CFX (Conflux) rose 1.22% in the last 24 hours.

Gate News Bot news, on September 29, according to CoinMarketCap, as of the time of writing, CFX (Conflux) is currently priced at 0.14 USD, with a rise of 1.22% in the last 24 hours, reaching a high of 0.15 USD and a low of 0.14 USD. The current market capitalization is approximately 733 million USD, an increase of 8.84 million USD compared to yesterday.

Conflux is a high-throughput public blockchain that employs an innovative Tree-Graph consensus algorithm to reduce confirmation times and increase TPS by parallel processing blocks and transactions. Conflux uses a thoroughly tested PoW consensus, providing enhanced security and protection against re-entrancy attacks at the protocol level. Its built-in staking feature lays the foundation for innovative DeFi applications, with the current annualized yield for staked tokens being 4%. The token economy of Conflux is built around the $CFX token, which holders can use to pay transaction fees, earn rewards through staking, rent storage space, and participate in network governance.

Important news about CFX recently:

1️⃣ Signs of price stabilization are emerging The CFX price has rebounded slightly by 1.22% in the last 24 hours after experiencing a continuous decline, rising from a previous low of $0.14 to $0.15. This stabilization may indicate that the selling pressure has eased in the short term, but it is still necessary to observe whether the subsequent trend can be sustained.

2️⃣ market capitalization slightly rises With the price rebound, the market capitalization of CFX has also seen a slight rise, currently around 733 million USD, an increase of 8.84 million USD from the previous day. The recovery of market capitalization helps alleviate investors' concerns about the project's development prospects, but attention must still be paid to whether the subsequent trend can remain stable.

3️⃣ Key price levels are under test The CFX price is currently fluctuating in the range of 0.14-0.15 USD, which is an important support level in recent times. Whether it can stabilize and break through 0.15 USD will be the key to the CFX price trend in the short term. If it successfully breaks through, it may attract more buying interest, driving the price further up.

From a technical perspective, although the CFX price has seen a slight rebound, it is still in a downtrend channel. To reverse the current downward trend, sustained buying support and more favorable factors are needed. The technical advantages of the Conflux network and its built-in staking feature have not effectively supported the token price in the current market environment, and the project team may need to strengthen ecological construction and market promotion to regain investor confidence.

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