Here’s Why Bibox Token (BIX) Is Up Over 200% This Month

Bibox Token (BIX), the exchange token associated with the Bibox exchange, has taken off in March as improving market conditions and continued Bibox development have investors feeling bullish.

Over the period, BIX has risen from $0.159 to over $0.48 — an increase of roughly 201%. This rise has brought BIX to a market cap of $53.3 million, making it the 9th largest constituent in the AltDex Exchange Token Index (ALTEXC).

BIX/USD 1-month chart (DataLight)

While most exchange tokens outperformed the market in March, Bibox also benefited from a number of key developments during the month.

One of the most significant of these announcements came in mid-March when Bibox revealed that users could begin contract and margin trading directly through the Bibox mobile app. The initial trading pairs include Bitcoin, Ethereum and EOS against Tether (USDT).

More recently, Bibox shared details on its upcoming Orbit product, which will function similar to the Binance Launchpad in supporting the token sales of high-quality blockchain projects.

“[Bibox Orbit] is aimed to provide the best growing environment for high potential blockchain projects and assist them with ecological construction and long-term development. Bibox Orbit will be the strongest foundation for them to open the gate of the global market,” reads the announcement.

Bibox has also recently upgraded its BIX Incentive Reward Program. Now, 30% of the daily transaction fee incurred will be shared according to the one-week average locked amount percentage, with rewards distributed every Friday.

This program is somewhat similar to KuCoin’s (KCS) daily profit share system that pays out KCS based on each users’ KCS holdings. Kucoin Shares have seen similar gains in March and are currently up over 265%.

March exchange token comparison sans BNB (DataLight)

On the whole, exchange tokens have been the best performing digital asset category in March, as the ALTEXC is up more than 59% this month.

More: Announcement: BIX Incentive Reward Upgrade
Monitor: AltDex Exchange Token Index

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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