- FX token surged 35% post-rebrand to Pundi AI, then stabilized as MEXC halted trading and began token swap operations.
- Trading volume soared 173.86% to $11.22M, signaling strong investor interest amid FX’s AI-focused rebranding.
- RSI at 77.55 shows overbought territory; MACD crossover suggests trend shift but market awaits consolidation.
MEXC Exchange provided its support for the FX token rebranding project into Pundi AI (PUNDIAI). The platform terminated spot trading for FX on 18 April at 10:00 UTC while deleting all remaining orders from the system. With a swap ratio of 100 FX to 1 PUNDIAI the FX token holders obtain PUNDIAI tokens.
The exchange MEXC stopped all trading options involving FX tokens. All FX tokens received by the platform following the deposit cutoff will remain ineligible for trading updates. MEXC will issue an individual statement about the completion of their token swap operation. The company’s rebranding initiative shows its dedication to AI-based blockchain infrastructure together with its new strategic direction.
FX Token Surges 35% Amid Market Speculation
Function X tokens saw a substantial price increase of 35% after the branding reorganization but then returned to their initial levels. The token initiated trading near $0.1195 before reaching its highest point at more than $0.18. The intense market volatility caused continuous price changes across the complete trading period.
Source: Coinmarketcap
FX maintained a position around $0.12 after it briefly dropped under $0.11 during the day. The trading day showed strong price growth of 12.01% with investors taking advantage of the rebranding news causing market momentum. The price jump occurred simultaneously with a growing market interest in blockchain systems using artificial intelligence.
Trading Volume and Technical Indicators Show Momentum Shift
The trading volume for FX experienced a substantial increase of 173.86 %, reaching $11.22 million. The substantial increase in market volume demonstrates growing participation from short-term and long-term investors who reacted to the rebranding initiatives. The market capitalization stayed constant at around $97.76 million while the reported circulating supply held at 784.3 million FX alongside a total supply of 139.61 million FX.
The marketplace experienced an intense surge in trading volume which created a large green candle that indicated fresh buying interest. Although the price reduced by 7.79% through a red candle it kept its position around $0.1255 during later trading hours. The price drop resulted from temporary sellers cashing out their earnings gained from the recent price increase.
RSI and MACD Indicate Potential Short-Term Pullback
Current technical data suggests prices are approaching overbought levels. The Relative Strength Index (RSI) registers 77.55 which indicates overbought conditions tend to develop at this value. Market participants will likely establish a new period of assessment through consolidation or short-term correction.
Source: TradingView
The MACD indicator has performed a positive crossover above its signal line while showing signs of moving upward. When this crossover occurs it reveals the possibility of a new upward market trend. Market participants display caution in this upward trend because the RSI indicator shows overbought levels as well as recent market volatility.
Future Outlook
The rebranding of FX tokens to Pundi AI led to a 35% price increase that MEXC supported during the transition period. The combination of rising market interest and technical indicator movement along with increased trading volume signals an upcoming trend modification. The market often creates short-run fluctuations because overbought conditions are detected. Market participants await next developments for the Pundi AI project including the cryptocurrency swap along with essential updates about its future development.
