CFX (Conflux) rose 17.05% in 24 hours

Gate News Bot news, on August 21, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at 0.20 USD, with a rise of 17.05% in the last 24 hours, reaching a high of 0.21 USD and a low of 0.16 USD. The 24-hour volume has reached 246 million USD. The current market capitalization is approximately 1 billion USD, an increase of 146 million USD compared to yesterday.

Conflux is a high-throughput public chain that uses an innovative Tree-Graph consensus algorithm to reduce confirmation time and increase TPS by processing blocks and transactions in parallel. The network employs a thoroughly tested PoW consensus mechanism, providing higher security and protection against re-entrancy attacks at the protocol level. Conflux also offers a built-in staking feature that provides a foundation for innovative DeFi applications, with currently staked tokens earning an annualized yield of 4%. Additionally, Conflux's fee sponsorship mechanism allows zero-balance users 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 news about CFX recently:

1️⃣ The significant rebound in prices indicates a clear improvement in market sentiment The CFX price has risen by 17.05% in the past 24 hours, strongly rebounding from the previous downward trend. This significant rise indicates that the market's perception of CFX has turned positive, and investor confidence is rapidly recovering.

2️⃣ market capitalization rise reflects continuous capital inflow CFX market capitalization has risen by $146 million in the past 24 hours, reaching $1.001 billion. This significant rise indicates a large influx of new funds into the CFX market, with buying power clearly strengthened, potentially signaling that more investors are optimistic about CFX's long-term development prospects.

3️⃣ Volume surge indicates increased market activity CFX 24-hour volume reached $246 million, showing a significant rise compared to previous days. The substantial increase in volume indicates that market participation is rising, and more investors may be starting to pay attention to and engage in CFX trading.

From a technical perspective, the CFX price has broken through the previous resistance range of $0.17-$0.18 and is currently challenging the new resistance level of $0.21. If it can effectively break through and stay above $0.21, it may trigger further rising momentum. Investors need to closely monitor the performance at the $0.21 resistance level and whether it can maintain operations above $0.20, as this will be key to determining whether the short-term trend can continue.

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