CFX (Conflux) 24-hour pump 107.47%

Gate News Bot news, July 21, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at $0.22, having risen 107.47% in the last 24 hours, with a high of $0.24 and a low of $0.10. The current market capitalization is approximately $112 million, an increase of $58.1 million compared to yesterday.

Conflux is a high-throughput public chain that utilizes an innovative Tree-Graph consensus algorithm to reduce confirmation time and increase TPS by processing blocks and transactions in parallel. Conflux employs a well-tested PoW consensus mechanism to provide higher 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 at 4%. Conflux's token economy is centered 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 Conflux launches new roadmap The Conflux network recently announced a new development roadmap, which has garnered positive reactions from the market. This initiative demonstrates the project's team's clear planning for future development, enhancing investors' confidence in the long-term value of CFX. The launch of the new roadmap directly propelled the price of CFX up by 10%, reflecting the market's optimism regarding Conflux's future development prospects.

2️⃣ Launch of EVM-compatible Bitcoin L2 solution Conflux recently announced a major technological breakthrough by launching an EVM-compatible Bitcoin Layer 2 network solution. This innovation combines the security of Bitcoin with the flexibility of the Ethereum Virtual Machine, providing developers and users with more possibilities. Following the announcement, the CFX price quickly rose by 8%, indicating that the market highly recognizes this technological advancement.

3️⃣ Establish a partnership with BeInCrypto Indonesia Conflux has established a strategic partnership with the Indonesian branch of the cryptocurrency news platform BeInCrypto, aiming to promote cryptocurrency news reporting. This collaboration helps to enhance Conflux's exposure and influence in the Southeast Asian market, potentially attracting more investors and users' attention to CFX.

From a technical perspective, the CFX price has broken through multiple key resistance levels, demonstrating strong upward momentum. However, given the significant price rise in the short term, investors should be cautious of potential correction risks.

This message does not constitute investment advice; investors should pay attention to market volatility risks.