Bubblemaps reported that after BitMEX announced its closure, the BMEX price dropped by 95%. In BitMEX’s token economic model, 75% of the tokens were originally intended for employee incentives, ecosystem development, and long-term reserves, but these tokens were never distributed on-chain. In 2021, approximately 92% of the BMEX supply was locked in vesting contracts, while the remaining 8% was distributed at token launch—5% for airdrops and 3% for product and liquidity support. Each allocation category corresponds to independent addresses designated to receive future unlocked tokens.
BitMEX Announces Closure; BMEX Price Drops 95% as Bubblemaps Reveals 75% of Tokens Not Allocated On-Chain
AiCoinShare
Summary
BitMEX’s closure sparks on-chain news as BMEX price plunges 95%. Bubblemaps data reveals that 75% of tokens allocated for employees, ecosystem, and reserves remain undistributed. In 2021, 92% of BMEX was locked in vesting contracts, with only 8% initially released. Each allocation category is linked to a separate address for future unlocks. The price drop underscores crypto market movements amid major project developments.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.