Coinbase is adding four new crypto assets to its arsenal of altcoins, triggering a number of epic price rallies.
The first addition to Coinbase Pro is the Ethereum-based (ETH) governance token Function X (FX), which is designed to power a cross-chain platform for decentralized applications and financial services.
Users can stake FX to earn rewards and use their token allocations to vote on the future of the network. The coin is also designed to be used as a payment method for the creation of smart contracts and data storage.
The announcement from Coinbase triggered a huge rise in the price of FX.
The coin has soared from a 24-hour low of $0.67 to as high as $1.86, according to CoinGecko – a 177% increase.