CFX (Conflux) rose 10.57% in the last 24 hours.

Gate News Bot news, July 31, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at 0.23 USD, having risen by 10.57% in the last 24 hours, reaching a high of 0.28 USD and a low of 0.16 USD, with a 24-hour volume of 443 million USD. The current market capitalization is approximately 1.159 billion USD, an increase of 111 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. Conflux utilizes a highly tested PoW consensus mechanism, providing higher security and re-entrancy attack protection at the protocol level. Its native token CFX can be used to pay transaction fees, stake for rewards, rent storage space, and participate in network governance. Conflux also offers built-in staking functionality and a low-fee mechanism, providing an innovative foundation for DeFi applications.

Important news about CFX recently:

1️⃣ Market performance is outstanding, with significant monthly rise CFX has performed strongly over the past month, with a monthly rise of up to 250%. The 30-day volume surged to $4.77 billion, representing a 647% rise compared to the previous period. This strong market performance reflects investors' high attention and positive sentiment towards the Conflux project.

2️⃣ Major protocol upgrade imminent Conflux plans to carry out an important protocol upgrade in August. This upgrade is expected to further enhance network performance and strengthen its competitiveness, thereby attracting more developers and users to participate in ecosystem development.

3️⃣ Development of Renminbi stablecoin continues to advance Conflux is actively developing a stablecoin based on the Renminbi. This initiative is expected to enhance Conflux's influence in the Chinese market and bring new application scenarios and user groups to its ecosystem.

From a technical perspective, the CFX price has experienced significant fluctuations over the past week. On July 23, it hit a low of $0.16, followed by a strong rebound to a high of $0.28, showing a notable rise. In the last 24 hours, the price has seen some degree of correction, possibly as a result of short-term profit taking. Investors need to closely monitor future price movements and be wary of potential volatility risks.

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