Binary (BNX) has been on a wild ride, jumping 63.58% in the past 24 hours, making it the top gainer in the crypto market today. Trading volume has also exploded, up 229%, showing serious interest from traders. At writing, BNX’s price sits at $1.96. The token has been pumping since yesterday, and now we finally have some answers as to why.
Turns out, BNX is transitioning to a new token called FORM, and exchanges are gearing up for the big shift. This wasn’t something we could confirm in yesterday’s piece, but now it’s all out in the open.
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What you'll learn 👉
What’s Going on With the BNX to FORM Swap?
BinaryX has officially announced that BNX holders won’t have to do anything—the swap will happen automatically on supported exchanges. Here’s the timeline:
- On March 17, Gate.io is setting BNX perpetual contracts to reduce-only mode.
- On March 18, Binance, Gate.io, MEXC, Coins, and Bitget will delist BNX spot trading to prepare for the transition.
With this major shift, traders seem to be piling into BNX, either to catch the hype or position themselves before the swap.
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BNX Price Action: Breakout and Bullish Momentum
Looking at the BNX price chart, the token broke out of a falling wedge pattern in early February – a classic bullish setup. Since then, the price has been moving up in a channel. It meets resistance around $1.80-$2.00 and finds support at $1.20-$1.30.
The RSI is at 68.55, which shows it’s approaching overbought levels. If BNX breaks above $1.80, it could push toward $2.50, but if it struggles at resistance, a dip back to $1.20 is possible.
What’s Next for BinaryX Price?
With the FORM transition right around the corner, expect volatility in the short term. If you’re holding BNX on exchanges that support the swap, you don’t need to do anything—it’ll convert automatically. For traders, all eyes are on whether BNX’s price can break through resistance or take a breather after this huge run.
Either way, BNX is stealing the spotlight, and the next few days should be interesting.
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