BitMEX Announcement of Shutdown Triggers 95% Crash in BMEX, Bubblemaps Says 75% of Token Allocation Never Circulated On-Chain

Source: PANews7 hour ago

YouToCoin July 24 news, blockchain data analysis platform Bubblemaps posted that after BitMEX announced its closure, its platform token BMEX price plummeted, currently down about 95% from previous levels. According to BitMEX's publicly disclosed tokenomics, about 75% of the total BMEX supply was originally planned for employee incentives, ecosystem development, and long-term reserves, but these tokens were never distributed on-chain. Data shows that in 2021, about 92% of the BMEX supply was locked in vesting contracts, with the remaining 8% allocated at token launch, including: 5% for airdrops; 3% for product and liquidity support. Each allocation category previously corresponded to a separate address intended to receive future unlocked tokens.

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