Conflux Price Surges Today: Here’s the Bullish Catalyst You Missed
Conflux (CFX) is ripping higher today—defying the sideways chop plaguing most altcoins. Traders are piling in, but what’s fueling the move?
China’s Blockchain Darling Flexes Muscle
Rumors swirl about a partnership with a state-backed enterprise (because of course it’s China—where crypto’s ‘banned’ unless it’s convenient). Conflux’s regulatory-friendly design keeps it in the game while others get sidelined.
Tech Upgrades & Token Burns
The team just deployed a mainnet upgrade slashing transaction fees. Combine that with their aggressive token-burn mechanics, and suddenly CFX looks like a scarcity play. Traders love nothing more than a deflationary narrative—even if the math is fuzzy.
Short Squeeze Fueling the Fire?
Funding rates flipped positive as leveraged shorts got steamrolled. Nothing like a cascade of liquidations to add rocket fuel to a rally. Classic crypto.
Is this sustainable? Who knows. But for now, Conflux is giving traders exactly what they crave: volatility with a side of hopium. Just don’t remind anyone what happened to the last ‘China’s Ethereum’ project.
Conflux 3.0 hype continues ahead of community call
The CFX token surged in a high-volume environment, with daily volume rising by over 425% to $772 million. Its futures open interest also jumped to over $164 million, up from Monday’s $98 million.
The rally followed confirmation that the quarterly community call will take place on Wednesday. This call will highlight second-quarter activity and provide a sneak peek at the upcoming Conflux 3.0 upgrade.
The upgrade and hard fork, scheduled for August, will improve performance by increasing transaction throughput from the current 3,000–6,000 transactions per second to 15,000.
Most notably, Conflux 3.0 will introduce support for artificial intelligence agents. This improvement will enable developers to create AI-enabled products and services.
📣 Reminder, Conflux fam!
Our Quarterly Community Call is happening tomorrow at 10 AM EST / 2 PM UTC
Join @FanLong16, @forgivenever, and our new CTO @GuangYang_9 as they walk us through:
• Q2 highlights
• What’s coming in Q3
• A sneak peek at the upcoming hardfork
🔗…
Another key feature is a pilot for an offshore yuan-backed stablecoin. Developed in collaboration with AnchorX, the CNH stablecoin aims to enhance cross-border payments and the settlement of real-world assets, also known as RWA.
Conflux 3.0 will also implement both proof-of-work and proof-of-stake mechanisms to boost scalability and decentralization. As a result, CFX price is soaring as investors anticipate developers will announce the official release date during the community call.
Conflux price technical analysis
The daily chart shows that CFX has rebounded over the past few months, climbing from a low of $0.0636 in April to $0.2726 today. Conflux has formed a golden cross pattern as the 50-day and 200-day moving averages crossed.
CFX has also formed a cup-and-handle pattern, featuring a horizontal support base and a rounded bottom. The pattern has a depth of approximately 76%, suggesting that a breakout could push price toward $0.790. This target sits just above the 78.6% Fibonacci retracement level.
