Binance, the popular cryptocurrency exchange platform, was one of the first to launch the BDXN token, priced at $0.9219. However, the price of the Bondex token plummeted immediately afterward, losing more than 91% of its value. As a result, it currently trades at $0.056193.
Most sellers have sold beyond the Binance Bondex token airdrop. According to the official announcement of inclusion in BDXN, Binance users with 212 alpha points could claim an airdrop of 900 tokens.
Like most trending cryptocurrency airdrops, it boosted seller activity, resulting in price drops.
According to cryptocurrency analyst Gem Hunter, most cryptocurrency tokens listed on Binance fail spectacularly in the market. In a post on X, he stated that most projects fail or collapse almost 99% with the inclusion of this exchange, including tokens like ACT, DEXE, KAVA, and many others.
Now, the drop in price of the BDXN token is the latest addition to this hypothesis, as it plummeted 91% with its listing. While this may explain the drop, it is merely speculation based on common events.
Experts believe that most tokens recognized by major cryptocurrency exchange platforms have high demand among investors. As a result, their price skyrockets; however, to benefit from this increase, investors began to sell early, resulting in opposite outcomes.
Additionally, there is also great disappointment with the Bondex token airdrop. Investors began to label it a scam due to eligibility and allocation issues, resulting in a major sell-off and a collapse.
