- The overall cryptocurrency market looks bearish, and the Function X crypto gained investors' attention amid declining prices.
- The Function X project recently added Polygon and Tron blockchains, and probably due to this, its price is increasing.
- The Function X project is designed to expand the overall liquidity and value of the virtual assets created on the network.
Amid the falling prices of almost all the significant cryptocurrencies globally, the Function X crypto (FX) surged on Monday, December 6. In the last 24 hours, the FX coin expanded by 6 per cent, and it was trading at US$ 1 per token.
At the time of writing, Bitcoin was down by about three per cent and the second-largest cryptocurrency, Ether, declined by four per cent.
Nevertheless, the cryptocurrency market looks bearish, and the Function X crypto is gaining investors' attention at such a time.
The sudden interest in the cryptocurrency could be due to the recent announcement that Polygon and Tron blockchains were live on Function X.
What is Function X crypto?
The Function X crypto is the native utility and governance token for the Function X project, an ecosystem built on the blockchain by Pundi X Labs.
The Function X project has a cross-blockchain platform, allowing multiple blockchains like Ethereum and Polygon.
The Function X project has decentralized validators, and they can safely move assets between multiple blockchains. Notably, these validators allow the project to achieve a high transaction speed and cheap transaction cost.
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The platform is believed to work on the proof-of-stake (PoS) concept and practical byzantine fault tolerance (PBFT), which means a certain number of nodes are required to approve a transaction.
Notably, the Function X crypto is designed to expand the overall liquidity and value of the virtual assets created on the network. Meanwhile, the Function X crypto has multiple use cases like payment for services like creating smart contracts and data storage.
The FX coin can also be used for voting for network upgrades and staking on the network. In addition, if users want to generate synthetic assets, they can use the Function X crypto.
What is Function X crypto?
After a brief period of decline, the Function X crypto seems to be back on track as it attracts crypto investors.
In the last 30 days, the FX crypto had declined by about 17 per cent. However, it has now surged by seven per cent since the past week.
Overall, the cryptocurrency grew by 1,372 per cent in the last 12 months. The Function X crypto could soar higher in future as the project has added new blockchains to the cross-chain platform.