The cryptocurrency industry is recovery While major cryptocurrencies and regulatory developments vary widely, one unexpected player has taken the market by storm. Black Phoenix, a payment system protocol, and its native token, BPX, have seen an incredible rise in price and outperformed the overall market with historic performance.
Notably, Black Phoenix's BPX token reached an all-time high of $2.60 on May 22nd, driven by incredible growth of 4,400,000% in the past 24 hours and over 6,500,000% in the past 14 days.
This unexpected win caught the attention of investors and prompted them to take a closer look at the protocol's underlying principles and design.
Explore the Black Phoenix design
According to the protocol, “Black PaperLaunched in April 2021, “Black Phoenix” provides a fully on-chain liquidity protocol that allows for instant exchange of cryptocurrency tokens in a decentralized manner on any smart contract-enabled blockchain.
The protocol's design aggregates liquidity within each blockchain and claims to offer takers the “best rate.” Executing a tradeAdditionally, Black Phoenix envisions a connected liquidity network that will facilitate seamless cross-chain token swaps between networks on different chains, with tokens based on the Tron (TRX) blockchain.
To implement a decentralized infrastructure service economy, Black Phoenix introduced a native token, BPX, which aims to eliminate the “inefficiencies” of existing protocols, attract a broad user base, and ultimately market For distributed infrastructure services.
Black Phoenix’s long-term and short-term goals revolve around achieving a listing on a reputable exchange, increasing the value of its token, and expanding its user base.
Currently, the BPX token can be traded on centralized crypto exchanges. The most popular exchanges to buy and trade Black Phoenix are Fame EXthe most active trading pair BPX/USDT has a trading volume of $2,809,201 over the past 24 hours, which is the driving force behind 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 soared 2,800,000%
One of the key indicators of Black Phoenix’s recent success is the increase in trading volume. data BPX trading volume on Wednesday increased significantly, reaching 2,800,000%.
At the same time, Black Phoenix's market cap rose to $3.8 billion, up significantly from $29 million per hour.
of Fully diluted valuation (FDV) is a statistical representation of the maximum market capitalization that an asset can achieve, assuming all available tokens are in circulation.
Black Phoenix's FDV is currently a staggering $10.4 billion. This valuation represents his BPX's potential growth and market capitalization if all 4 billion tokens were in circulation.
With all major BPX indicators rising significantly, the project team made a bold decision. predictionstates that BPX will soon become one of the top five cryptocurrencies in the world.
Finally, the potential listing of Black Phoenix's token on a top exchange promises to further propel its upward trend, but as with all cryptocurrencies, the extent of its surge and the occurrence of a subsequent market correction remain uncertain.
Featured image from Shutterstock, chart from TradingView.com
