Gate News Bot news, September 3rd, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently reported at $0.18, down 1.03% in the last 24 hours, with a high of $0.21 and a low of $0.17. The current market capitalization is approximately $902 million, a decrease of $9.4 million from yesterday.
Conflux is a high-performance public chain that uses an innovative Tree-Graph consensus algorithm to achieve high throughput and low confirmation times. CFX is the native token of the Conflux network, used for paying transaction fees, staking rewards, storage leasing, and network governance. Conflux is committed to providing blockchain infrastructure for creators, communities, and markets to connect across borders and protocols.
Important recent news about CFX:
1️⃣ Impact of Network Upgrades and Hard Forks on Short-term Price Performance
Conflux Network conducted a network upgrade and hard fork at block height 129,680,000 on September 1. This significant technical event led investors to adopt a wait-and-see attitude in the short term, affecting the trading activity and price performance of CFX. The market reaction after the upgrade will be a key focus for investors to closely monitor.
2️⃣ Price volatility intensifies, market sentiment turns cautious
The CFX price has experienced significant fluctuations over the past week. On August 29, CFX saw a notable increase of 12.86%, pushing the price up to $0.19. However, this upward trend was not sustained, and a correction followed. Currently, the CFX price has fallen back to $0.18, indicating short-term price volatility and a cautious market sentiment.
3️⃣ Trading volume remains high, reflecting ongoing market attention
Despite the price correction, the trading volume of CFX remains at a high level. On August 29, the daily trading volume reached $136 million, showing an increase compared to previous periods. This indicates that market interest in CFX remains high, with investors actively participating in trading, providing some support for the price.
From a technical perspective, the CFX price is currently finding support around $0.18, but is facing downward pressure. If it can hold at the current level, it may lay the groundwork for a subsequent rebound. However, to regain an upward momentum, CFX still needs to break through the short-term high of $0.21. Investors should closely monitor the market reaction after the network upgrade, as well as the performance of key price levels.
This message is not intended as investment advice; investors should be aware of market volatility risks.
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CFX (Conflux) fell 1.03% in the last 24 hours.
Gate News Bot news, September 3rd, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently reported at $0.18, down 1.03% in the last 24 hours, with a high of $0.21 and a low of $0.17. The current market capitalization is approximately $902 million, a decrease of $9.4 million from yesterday.
Conflux is a high-performance public chain that uses an innovative Tree-Graph consensus algorithm to achieve high throughput and low confirmation times. CFX is the native token of the Conflux network, used for paying transaction fees, staking rewards, storage leasing, and network governance. Conflux is committed to providing blockchain infrastructure for creators, communities, and markets to connect across borders and protocols.
Important recent news about CFX:
1️⃣ Impact of Network Upgrades and Hard Forks on Short-term Price Performance Conflux Network conducted a network upgrade and hard fork at block height 129,680,000 on September 1. This significant technical event led investors to adopt a wait-and-see attitude in the short term, affecting the trading activity and price performance of CFX. The market reaction after the upgrade will be a key focus for investors to closely monitor.
2️⃣ Price volatility intensifies, market sentiment turns cautious The CFX price has experienced significant fluctuations over the past week. On August 29, CFX saw a notable increase of 12.86%, pushing the price up to $0.19. However, this upward trend was not sustained, and a correction followed. Currently, the CFX price has fallen back to $0.18, indicating short-term price volatility and a cautious market sentiment.
3️⃣ Trading volume remains high, reflecting ongoing market attention Despite the price correction, the trading volume of CFX remains at a high level. On August 29, the daily trading volume reached $136 million, showing an increase compared to previous periods. This indicates that market interest in CFX remains high, with investors actively participating in trading, providing some support for the price.
From a technical perspective, the CFX price is currently finding support around $0.18, but is facing downward pressure. If it can hold at the current level, it may lay the groundwork for a subsequent rebound. However, to regain an upward momentum, CFX still needs to break through the short-term high of $0.21. Investors should closely monitor the market reaction after the network upgrade, as well as the performance of key price levels.
This message is not intended as investment advice; investors should be aware of market volatility risks.