CFX (Conflux) rose 2.93% in the last 24 hours.

Gate News Bot news, on September 12, according to CoinMarketCap, as of the time of writing, CFX (Conflux) is currently priced at 0.18 USD, having risen 2.93% in the last 24 hours, reaching a high of 0.18 USD and a low of 0.17 USD. The current market capitalization is approximately 936 million USD, an increase of 26.6 million USD compared to yesterday.

Conflux is a high-throughput public chain that uses an innovative Tree-Graph consensus algorithm to shorten confirmation times and increase TPS by processing blocks and transactions in parallel. Conflux leverages a thoroughly tested PoW consensus to provide higher security and protection against re-entrancy attacks at the protocol level. Its built-in staking feature provides a foundation for innovative DeFi applications, with the current annualized yield for staked tokens at 4%. Conflux's fee sponsorship mechanism allows users with wallet balances to still interact with the blockchain, where sponsors can pay part or all of the transaction fees for other users to help them get started.

Important recent news about CFX:

1️⃣ Launch of stablecoin and network upgrade plan On July 21, the Conflux network announced a new stablecoin project and network upgrade plan, which drove the CFX price to double in a short period of time. The upgrade aims to enhance network performance and user experience, laying the foundation for the future development of the DeFi ecosystem.

2️⃣ Increased Attention to the Chinese Market On August 4th, the CFX price saw a significant rise, primarily driven by the increasing attention to the Conflux network in the Chinese market. However, analysis indicates that despite the price rise, the project's fundamental indicators still need further improvement to support long-term growth.

3️⃣ Network upgrade drives price rebound Recently, Conflux completed an important network upgrade, which has led to a noticeable rebound in the price of CFX. The upgraded network is expected to bring higher transaction processing capacity and lower fees, which is likely to attract more developers and users to participate in ecosystem development.

From a technical perspective, the CFX price is currently in a rising channel, but it still needs to break through key resistance levels to confirm a long-term upward trend. On the fundamental side, the Conflux team continues to promote technological innovation and ecological development, but the market competition is fierce, and future development still faces challenges.

This message is not intended as investment advice; investors should be aware of market volatility risks.