BlockchainFX expressed disappointment on October 5 over its BFX token’s price collapse, promising continued development, marketing, additional exchange listings, and a burn of unsold presale tokens.
The statement follows a loss exceeding 99% against its advertised $0.05 launch price, but leaves unanswered why a project reporting over $15 million raised opened its BFX/ETH pool with just $18,800 in ETH.
The team said the price had not changed its long-term plans and reaffirmed its commitment to the roadmap and whitepaper. Its priorities include developing the platform and token utility, attracting new users and holders through marketing, and expanding liquidity through additional decentralized and centralized exchange listings when market conditions and timing are appropriate. No exchanges, listing dates, or liquidity funding amounts were named.
BlockchainFX also reiterated its earlier plan to burn the unsold presale allocation, permanently removing those tokens and reducing supply. It did not disclose the amount, saying a burn date would be announced soon.
The team expressed disappointment at BFX’s price collapse despite its work on the platform and preparations before presale token claims opened. It said “a token price at one moment in time does not define the entire project” and that the platform, ecosystem, roadmap, partnerships, listings, staking infrastructure, and future development remain its focus.
BlockchainFX stressed that buyers and sellers determine prices and that it cannot control individual holders’ decisions, but did not explain the limited launch liquidity or how the presale proceeds were spent.
BFX’s Early Rally Came With Thin Liquidity and Presale Tokens Locked
BlockchainFX scheduled its token launch for August 31, but instead opened two Uniswap auctions and delayed presale claims until the liquidity process was completed. The first auction ended on September 1, with the BFX/USDC pool opening with just 1,591.50 USDC and 5,413.27 BFX.
BFX subsequently traded above $4 while presale investors remained unable to sell. BlockchainFX promoted those prices alongside auction entry prices near $0.05, presenting a large price gap in a market that had yet to absorb presale selling.
That changed on September 30, when the second auction ended and investors gained access to their tokens. BFX fell to $0.00003816, a 99.92% loss against the advertised launch price. The five-minute trading volume during the collapse was just $7,767.
The liquidity transaction transferred 14.0544 ETH from the auction, but only half entered the pool. The other 7.0272 ETH went to the wallet that received the liquidity position. By October 1, the BFX/ETH pool held just $519 in combined liquidity, leaving little money available for investors trying to sell.
