{"id":520383,"date":"2023-02-21T09:10:00","date_gmt":"2023-02-21T09:10:00","guid":{"rendered":"https:\/\/wncen.com\/?p=520383"},"modified":"2023-02-21T09:14:57","modified_gmt":"2023-02-21T09:14:57","slug":"conflux-up-547-today","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/conflux-up-547-today\/","title":{"rendered":"Conflux (CFX): This Chinese Crypto Rises In Power, Blasts Off With 547% Rally Today"},"content":{"rendered":"

While China shows signs of becoming more accepting of cryptocurrency trade, Conflux (CFX) is also quickly becoming one the crypto assets projected to explode in price in 2023.<\/p>\n

By June 1, 2023, Hong Kong<\/a> is expected to make the buying, selling, and trading of cryptocurrencies legal for all of its citizens, according to reports. The revelation has sparked a rally in Chinese currency, and the so-called “China narrative”\u00a0has gained momentum over the past few days.<\/p>\n

This year, Conflux Network (CFX)<\/a> has outperformed the market’s other leading cryptocurrencies. Tuesday’s data from coin market tracker Coingecko demonstrates that the coin’s price increased by an astonishing 547% over the previous week.<\/p>\n

Conflux: The China-Backed Blockchain Project<\/strong><\/h2>\n

Conflux Network is a public, permissionless, Layer-1 blockchain protocol that aims to provide high throughput, low transaction fees, and secure and dependable transactions. It seeks to solve the scalability restrictions of conventional blockchain networks by employing a novel Tree-Graph methodology that enables parallel transaction processing.<\/p>\n

Conflux is the only public and regulatory-compliant blockchain<\/a> in China. It\u00a0utilizes a technique that combines proof-of-work and proof-of-stake.<\/p>\n

Researchers from Tsinghua University, Peking University, and Shanghai Jiao Tong University, among others, developed the Conflux Network. Dr. Andrew Yao, recipient of the Turing Award, serves as the chief scientist of Conflux.<\/p>\n

\"\"<\/p>\n

CFX expanded its year-to-date profits after news of a deal with China Telecom sent the stock flying. From February 15, the token has increased by a substantial 500%, reaching a daily high at $0.325 on February 20.<\/p>\n

CFX is trading at $0.3373<\/a> at the time of writing, up 56.4% in the last 24 hours. The coin’s market capitalization is $707.5 million. At the time of writing, the project was ranked number 77 out of the top 100 cryptocurrencies.<\/p>\n

\"\"<\/p>\n

CFX Strong Fundamentals<\/strong><\/h2>\n

The partnership between Conflux and China Telecom will focus on producing SIM cards with blockchain technology. The company asserted that the blockchain SIMs, or BSIM, will be the \u201clargest blockchain hardware product ever seen globally.\u201d<\/p>\n

This year’s advance in the CFX price has been largely fueled by solid fundamentals. CFX’s price skyrocketed by more than 90% on January 26, two days after the company\u00a0joined with the China-based social media platform Little Red Book to offer NFT services.<\/p>\n

Related Reading: Litecoin Sparkles With New All-Time High In Hashrate \u2013 Will It Boost LTC Price?<\/a><\/div>\n

<\/p>\n

DOT total market cap at $8.6 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading:  Stacks (STX) Continues Solid Advance With 134% Gain In The Last 7 Days<\/a><\/div>\n
Google Searches Soaring<\/strong><\/h3>\n
The high-profile deals also increased searches for Conflux Network-related terms, indicating a rise in retail interest. For example, the global Google Trend score for the keyword “Conflux Network” achieved 93 and 100 from January 22 to February 28 and February 12 to February 18, respectively.<\/p>\n
Meanwhile, in addition to Hong Kong\u2019s crypto plans, analysts have noticed that significant liquidity infusions\u00a0by the\u00a0People’s Bank of China (PBoC) correlate with the spike in crypto market value.<\/p>\n
-Featured image from The Block<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
While China shows signs of becoming more accepting of cryptocurrency trade, Conflux (CFX) is also quickly becoming one the crypto assets projected to explode in price in 2023. By June 1, 2023, Hong Kong is expected to make the buying, selling, and trading of cryptocurrencies legal for all of its citizens, according to reports. The revelation has sparked a rally in Chinese currency, and the so-called “China narrative”\u00a0has gained momentum over the past few days. This year, Conflux Network (CFX) has outperformed the market’s other leading cryptocurrencies. Tuesday’s data from coin market tracker Coingecko demonstrates that the coin’s price increased by an astonishing 547% over the previous week. Conflux: The China-Backed Blockchain Project Conflux Network is a public, permissionless, Layer-1 blockchain protocol that aims to provide high throughput, low transaction fees, and secure and dependable transactions. It seeks to solve the scalability restrictions of conventional blockchain networks by employing a novel Tree-Graph methodology that enables parallel transaction processing. Conflux is the only public and regulatory-compliant blockchain in China. It\u00a0utilizes a technique that combines proof-of-work and proof-of-stake. Researchers from Tsinghua University, Peking University, and Shanghai Jiao Tong University, among others, developed the Conflux Network. Dr. Andrew Yao, recipient of the Turing Award, serves as the chief scientist of Conflux. CFX expanded its year-to-date profits after news of a deal with China Telecom sent the stock flying. From February 15, the token has increased by a substantial 500%, reaching a daily high at $0.325 on February 20. CFX is trading at $0.3373 at the time of writing, up 56.4% in the last 24 hours. The coin’s market capitalization is $707.5 million. At the time of writing, the project was ranked number 77 out of the top 100 cryptocurrencies. CFX Strong Fundamentals The partnership between Conflux and China Telecom will focus on producing SIM cards with blockchain technology. The company asserted that the blockchain SIMs, or BSIM, will be the \u201clargest blockchain hardware product ever seen globally.\u201d This year’s advance in the CFX price has been largely fueled by solid fundamentals. CFX’s price skyrocketed by more than 90% on January 26, two days after the company\u00a0joined with the China-based social media platform Little Red Book to offer NFT services. Related Reading: Litecoin Sparkles With New All-Time High In Hashrate \u2013 Will It Boost LTC Price? DOT total market cap at $8.6 billion on the daily chart | Chart: TradingView.com Related Reading: Stacks (STX) Continues Solid Advance With 134% Gain In The Last 7 Days Google Searches Soaring The high-profile deals also increased searches for Conflux Network-related terms, indicating a rise in retail interest. For example, the global Google Trend score for the keyword “Conflux Network” achieved 93 and 100 from January 22 to February 28 and February 12 to February 18, respectively. Meanwhile, in addition to Hong Kong\u2019s crypto plans, analysts have noticed that significant liquidity infusions\u00a0by the\u00a0People’s Bank of China (PBoC) correlate with the spike in crypto market value. -Featured image from The Block<\/p>\n","protected":false},"author":557,"featured_media":520388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87851,87881,87882,87880,87852],"class_list":["post-520383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cfx","tag-china-narrative","tag-chinese-blockchain","tag-chinese-crypto","tag-conflux"],"acf":[],"yoast_head":"\nConflux (CFX): This Chinese Crypto Rises In Power, Up 547%<\/title>\n<meta name=\"description\" content=\"Conflux has outperformed the market's other leading cryptocurrencies. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Conflux (CFX): This Chinese Crypto Rises In Power, Blasts Off With 547% Rally Today","url":"http:\/\/wncen.com\/news\/conflux-up-547-today\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/conflux-up-547-today\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-40.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-40.png?fit=542%2C304"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cfx","china narrative","chinese blockchain","chinese crypto","conflux"],"dateCreated":"2023-02-21T09:10:00Z","datePublished":"2023-02-21T09:10:00Z","dateModified":"2023-02-21T09:14:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Conflux (CFX): This Chinese Crypto Rises In Power, Blasts Off With 547% Rally Today\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/conflux-up-547-today\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/conflux-up-547-today\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-40.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-40.png?fit=542%2C304\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cfx\",\"china narrative\",\"chinese blockchain\",\"chinese crypto\",\"conflux\"],\"dateCreated\":\"2023-02-21T09:10:00Z\",\"datePublished\":\"2023-02-21T09:10:00Z\",\"dateModified\":\"2023-02-21T09:14:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-40.png?fit=542%2C304","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520383"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=520383"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/520388"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=520383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=520383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=520383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}