Black Phoenix (BPX) Emerges As The Crypto King With Mind-Blowing 4,000,000% Growth In 24 Hours
May 22 2024 - 6:00PM
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The crypto industry has been dominated by the recovery of major
cryptocurrencies and regulatory developments, but one unexpected
player has taken the market by storm. Black Phoenix, a payment
system protocol, and its native token, BPX, have witnessed an
astonishing surge in price, outperforming the entire market with
historical performance. Notably, Black Phoenix’s BPX token reached
an all-time high of $2.60 on May 22, propelled by a staggering
4,400,000% growth in the past 24 hours and over 6,500,000% in the
past fourteen days. This unexpected victory has caught the
attention of investors, prompting them to examine the protocol’s
underlying principles and design more closely. Exploring The Black
Phoenix Design According to the protocol’s “Black Paper” released
in April 2021, Black Phoenix presents a fully on-chain liquidity
protocol for instant cryptocurrency token swaps in a decentralized
manner on any smart contract-enabled blockchain. The
protocol’s design aggregates liquidity within each blockchain,
claiming to offer “the best rates” for takers executing trades.
Additionally, Black Phoenix envisions a connected liquidity network
facilitating seamless cross-chain token swaps across its networks
on different chains, with its token based on the Tron (TRX)
blockchain. Related Reading: Shiba Inu Price Can’t Reach $0.01,
Crypto Pundit Reveals Why To implement a distributed infrastructure
services economy, Black Phoenix introduced its native token BPX.
BPX aims to eliminate “inefficiencies” in the existing protocol and
attract a broad user base, ultimately creating a marketplace for
distributed infrastructure services. Black Phoenix’s long-term and
short-term goals revolve around achieving reputable exchange
listings, increasing the token’s value, and expanding the user
base. Currently, BPX tokens can be traded on centralized
crypto exchanges. The most popular exchange to buy and trade Black
Phoenix is FameEX, where the most active trading pair BPX/USDT has
a trading volume of $2,809,201 in the last 24 hours, which has been
the propeller of the current uptrend. Nevertheless, Black
Phoenix plans to list the BPX token on several exchanges, including
Hotbit, Hitbtc, Coinex, Binance, and Coinbase Pro. Trading
Volume Skyrockets 2,800,000% One key indicator of Black Phoenix’s
recent success is the increase in trading volume. CoinGecko data
shows a significant spike in trading volume for BPX on Wednesday,
reaching 2,800,000%. At the same time, Black Phoenix’s market
capitalization has risen to $3.8 billion, a significant increase
from $29 million in hours. The fully diluted valuation (FDV)
is a statistical representation of the maximum market
capitalization an asset can achieve, assuming that all available
tokens are in circulation. For Black Phoenix, the FDV
currently stands at an impressive $10.4 billion. This valuation
represents the potential growth and market cap of BPX if all 4
billion tokens were in circulation. Following the notable
surge in all key metrics for BPX, the project’s team has made a
bold prediction, stating that BPX will soon become one of the top 5
cryptocurrencies in the world. Related Reading: Built On An
$6 Million NFT Scam? AI Company Accused Of Fraud By Internet
Investigator Ultimately, the potential listing of Black Phoenix’s
token on top exchanges promises to propel its upward trend further.
However, as is typical for all cryptocurrencies, the extent of its
surge and the subsequent occurrence of a market correction remains
uncertain. Featured image from Shutterstock, chart from
TradingView.com
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