BNXAI don't mean to rain on anyones parade but todays announcement doesnt say much .
If memory serves me correctly they have made somewhat similar announcements in the past .
There has been NO financial update of any type from BNXA since the end of the March .They are delaying release of the annual financial results until the last moment before they are sanctioned by the Canadian exchange on which they trade.
The underlying crypto markets remain in a severe bear market with little evidence that this will end anytime soon .
There was some discussion a little while back that they were in discussions about selling shares in a private transaction to raise working capital ,nothing seems to have come of that .
To suggest that BNXA is worth 250 million is total nonesense.
Until proper financial information is released such as current cash balances ,cash burn rate ,transactional volume and whether they are borrowing money to fund operations I wouldn't personally commit money to it .
Clearly BNXA is very oversold but this is because of doubts about its financial viability and the lack of proper financial data about the health of the company for more than 6 months.No one other than senior executives at BNXA has any idea whether bnxa is viable or not.,
Coin is obviously struggling ,they are lowering thier fees to try and increase volume in this bear market which already claimed Voyager which is being broken up and shareholders will be left with nothing.
The general sock market remains in a bear and Cryptos trade with the general stock market .
Just to illustrate BTC was at 65K plus now its struggling to get above 20K ,Ethe was at about 4.6K now its around 1.35 K .