New gaming Altcoin erupts after surprise listing on Crypto Exchange Binance

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A gaming altcoin jumped more than 130% after leading crypto exchange Binance announced its support for the token.

Binance says it is adding BinaryX (BNX) to the list of crypto offering platforms.

BNX is the native token used in CyberDragon, a fantasy role-playing game currently in development on Binance Smart Chain. The token is designed to be used for community voting, hero recruiting, upgrades, and other basic game functions.

Players can create characters, collect rare gear, and earn rewards for defeating enemies.

BNX will be available in Binances Innovation Zone, a dedicated trading area where users can buy and sell new tokens that may have higher volatility and present higher risk to traders.

The token already displays this type of volatility. Opening the day at $ 101, BNX rose vertically after Binance’s announcement, peaking at $ 241 before settling at $ 121, according to CoinGecko.

Gaming altcoins and metaverse tokens have dominated the crypto space in recent weeks, and even more fuel has been added to the market following Facebook’s rebranding to ‘Meta’ and plans to invest in the metaverse.

BNX isn’t the only metaverse token making waves on the Binance exchange. Another gaming altcoin called GALA rose more than 540% after Binances announced in mid-September.

Most recently, Binance sent the Tranchess Governance Token (CHESS) to steal 185% in October after gaining backing from the crypto exchange giant.

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Featured Image: Shutterstock / Antonov Serg / Vladimir Sazonov

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