CFX (Conflux) rose 18.95% in 24 hours

Gate News Bot news, July 29, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at 0.22 USD, with an 18.95% rise in the last 24 hours, reaching a high of 0.22 USD and a low of 0.16 USD. The current market capitalization is approximately 114 million USD, an increase of 18.1 million USD compared to yesterday.

Conflux is a high-throughput public chain that achieves parallel processing of blocks and transactions through its groundbreaking Tree-Graph consensus algorithm, thereby reducing confirmation times and increasing TPS. Conflux adopts a well-tested PoW consensus, providing higher security and protection against re-entrancy attacks at the protocol level. Its built-in staking interest provides a foundation for innovative DeFi applications. Conflux’s token economy is built around the $CFX token, which users can use to pay transaction fees, earn rewards through staking, rent storage space, and participate in network governance.

Recent important news about CFX:

1️⃣ Ecosystem expansion drives price pump Conflux has recently made significant progress in expanding its ecosystem, attracting the attention of investors. This expansion may include the addition of new partnerships, applications, or services, further enhancing the utility and appeal of the Conflux network.

2️⃣ Technical upgrades enhance network performance Conflux’s continuous innovation and upgrades in technology, which may include improvements to the Tree-Graph consensus algorithm or increased network throughput, help to enhance investor confidence and drive the rise in CFX prices.

3️⃣ Market sentiment turns positive In the context of a slight rise in the overall cryptocurrency market, CFX, as one of the best-performing tokens, reflects investors’ optimism towards the Conflux project. This positive market sentiment may further drive the rise in CFX prices.

From a technical perspective, the CFX price has experienced significant fluctuations over the past week, strongly rebounding from a low of $0.16 on July 23 to the current $0.22, marking a notable rise. This price trend indicates that market interest in Conflux is rapidly recovering, but investors should remain cautious of potential short-term pullback risks.

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