The Block • Sep 27, 23
Bitcoin’s correlation with equities continuing to diverge
The correlation between bitcoin and equities will continue to diverge over the coming months due to the Fed's continued monetary tightening.
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Market
Market stats
Market cap
$1.2M
Volume (24h)
$63,516.10
Circulating supply
12.5M PCX
All time high
$19.73
Price change (1h)
+0.45%
Price change (24h)
-0.74%
Price change (7d)
+2.94%
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
ChainX is on the rise this week.
The price of ChainX has risen by 2.94% in the past 7 days. The price declined by 0.74% in the last 24 hours. In just the past hour, the price grew by 0.45%. The current price is $0.0994 per PCX. ChainX is 99.50% below the all time high of $19.73.
The current circulating supply is 12,505,374.7 PCX.
About
What Is ChainX (PCX)?
ChainX (PCX) is a community-run layer2 network of bitcoin. The network aims to build a trustworthy and scalable Bitcoin layer-2, which is a secondary framework or protocol built on top of an existing blockchain network. This off-chain layer intends to increase Bitcoin’s payment speed as well as its function extension. ChainX’s community-run network aims to be the gateway to Bitcoin’s ecosystem as a layer-2 framework.
According to its whitepaper, due to the limitations imposed by block size and block production, Bitcoin falls short of providing a significant purpose when it comes to large-scale payments. Also, the network suffers from scalability issues. As a solution, Bitcoin’s reliability in the layer-2 network is built up by ChainX.
ChainX aims to allow the deployment of smart contracts using virtual machines such as EVM in order to achieve Bitcoin scalability and to provide a suitable development platform for Dapp developers. Virtual machines are sets of virtual space where code can run independently of the rest of the system. As a result, virtual machines help test new software or execute potentially harmful applications. Likewise, the Ethereum Virtual Machine (EVM) powers the Ethereum network’s nodes to execute smart contracts.
The platform aims to offer certain features like:
Low cost migration;
Familiar tools and plug-ins;
Web3 compatible; and,
Solidity smart contracts.
PCX is ChainX’s governance token. Accordingly, the token has three main utilities: governance, payment, and staking. PCX aims to represent the voting rights on the ChainX network, granting holders the ability to vote on protocols, products, new features, objectives, upgrades, and maintenance. Additionally, the network seeks to enable holders to stake their tokens in order to safeguard the network while also receiving incentives. Further, as a facilitator for the transaction process, ChainX charges transaction fees for the computational power through the PCX token.
History of ChainX (PCX)
Lipeng Yue co-founded the ChainX network in 2016 in China.
The PCX token has a total supply of 21 billion and halves every two years like Bitcoin. Halving is meant to reduce the supply of tokens in half to lower the availability even as the demand rises.
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ChainX Calculator
How much is 1 PCX?
Conversion Table
PCX/CAD (Canadian Dollar)
CA$0.13
PCX/GBP (British Pound)
£0.0814
PCX/JPY (Japanese Yen)
¥14.84
PCX/BRL (Real)
R$0.50
PCX/EUR (Euro)
€0.0940
PCX/NGN (Nigerian Naira)
NGN 76.53
PCX/KRW (South Korean Won)
₩134.43
Reading List
News
Decrypt • Sep 27, 23
You Can Now Trade Bitcoin Mining Hashpower on Arbitrum
The Lumerin Hashpower Marketplace creates a novel method for decentralizing Bitcoin's global hashrate and makes mining accessible to retail investors.
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Unchained • Sep 27, 23
SEC Chair Gensler Says Bitcoin Isn’t a Security
Appearing before the U.S. House Financial Services Committee on Wednesday, Securities and Exchange Commission (SEC) Chair Gary Gensler said that bitcoin (BTC) isn’t a security but stopped short of calling the digital asset a commodity. The sentiment echoed Gensler’s previously more lenient stance on
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CoinDesk • Sep 27, 23
The Protocol: Google Pushes Deeper into Blockchain
Google's cloud-computing division is increasingly involved in blockchain, with plans to add 11 networks including Polygon, Optimism, and Polkadot to its 'BigQuery' program for public datasets.
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CoinDesk • Sep 27, 23
With All Eyes on a Spot Bitcoin ETF Approval, Don’t Sleep on ETH (or ETHE)
There’s a better trade than buying Grayscale’s GBTC if you’re optimistic the SEC will approve crypto ETFs.
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The Block • Sep 27, 23
FalconX participates in $3 million seed round for DeFi portfolio manager Bril Finance
Bril Finance raised $3 million in seed funding from FalconX, Kosmos Ventures and the Algorand Foundation. It also officially launched on Sei.
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FAQ
What is the current price of ChainX?
We update our ChainX to USD currency in real-time. Get the live price of ChainX on Coinbase.
What is the market cap of ChainX?
The current market cap of ChainX is $1.24M. A high market cap implies that the asset is highly valued by the market.
What is the all time high of ChainX?
The all-time high of ChainX is $19.73. This all-time high is highest price paid for ChainX since it was launched.
What is the 24 hour trading volume of ChainX?
Over the last 24 hours, the trading volume of ChainX is $63.52K.
What other assets are similar to ChainX?
Assets that have a similar market cap to ChainX include Cheems Inu (new), Graphlinq Chain, PUBLISH, and many others. To see a full list, see our comparable market cap assets.
How many ChainX are there?
The current circulating supply of ChainX is 13 million.
Can I buy ChainX on Coinbase?
No, ChainX is not currently available on Coinbase, but you can sign up to get the latest news on ChainX and be notified when it gets added to our exchange.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.