BNX IS In Very Good Mode Catch It**Fundamental:** BinaryX (BNX) is a decentralized finance (DeFi) platform that offers a variety of products and services, including decentralized derivatives trading, yield farming, and staking. BinaryX is powered by the Ethereum blockchain and uses a unique dual-token system, with BNX serving as the governance token and BNUSD serving as the stablecoin.
BinaryX has attracted significant attention from investors and users since its launch in 2021. The platform has over 1 million registered users and over $1 billion in total value locked (TVL). BinaryX is also backed by a number of high-profile investors, including Binance Labs, Sequoia Capital, and Alameda Research.
**Recent News:**
* On September 29, 2023, BinaryX announced the launch of its new decentralized derivatives exchange, BinaryX DEX. BinaryX DEX is the first decentralized derivatives exchange to offer margin trading on perpetual contracts.
* On October 5, 2023, BinaryX announced that it had raised $100 million in a Series B funding round. The round was led by Sequoia Capital and included participation from other top investors such as Binance Labs, Alameda Research, and Huobi Ventures.
**Disclaimer:**
Cryptocurrencies are a highly volatile asset class and investing in them carries a high degree of risk. Please do your own research before investing in any cryptocurrency.
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