{"id":522913,"date":"2023-03-14T07:14:34","date_gmt":"2023-03-14T07:14:34","guid":{"rendered":"https:\/\/wncen.com\/?p=522913"},"modified":"2023-03-14T07:14:34","modified_gmt":"2023-03-14T07:14:34","slug":"conflux-blasts-off-nearly-70","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/conflux-blasts-off-nearly-70\/","title":{"rendered":"Conflux Blasts Off Nearly 40% In Single Day – Will CFX Soar Higher Amid Banking Crisis?"},"content":{"rendered":"

The price of Conflux (CFX) increased for the second consecutive day as cryptocurrencies rebounded amid the ongoing crisis hounding the banking sector.<\/p>\n

Binance reports that CFX is the top-performing cryptocurrency on Monday. CFX achieved a peak of $0.2093, which was approximately 50% higher than the token’s all-time low less than a week earlier.<\/p>\n

In recent weeks, the price of CFX tokens increased by nearly 700%, reaching a high of $0.3595. CFX was trading at $0.2599 at the time of writing, up 38%<\/a> in the previous 24 hours and 31% in the past seven days.<\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
Conflux Rises On Legalization Of Crypto Trading In HK<\/strong><\/h2>\n
Conflux’s trading volume grew in response to the enormous demand for China-related blockchains and tokens. It is the first blockchain in China that complies with regulatory requirements and uses the Tree-Graph consensus technique to boost bandwidth and scalability.<\/p>\n
According to analysts, the legalization of crypto trading in Hong Kong is the key factor behind Conflux’s increase. The expectation is that China will soon follow.<\/p>\n
The price of CFX<\/a> has risen dramatically as word of this has circulated. Yet, it is unclear whether this report of China opening its market to cryptocurrencies is merely a speculation or whether it is grounded in truth. This has not hindered Conflux users from achieving profits in excess of 1,000%.<\/p>\n
Continual wagers that the U.S. Federal Reserve<\/a> would not be as hawkish as anticipated also contribute to the growing price of CFX.<\/p>\n
\"\"<\/p>\n
\n
Image: Financial Services Compensation Scheme<\/pre>\n<\/div>\n
The majority of analysts anticipate that the central bank will be more cautious in dealing with inflation in the upcoming sessions due to the changing market conditions.<\/p>\n
In February, the U.S. economy added over 300,000 jobs, according to data released on Friday. The unemployment rate is stagnant around 3.6%, although wage inflation is declining.\u00a0Experts predict that the United States’ inflation rate remained high last month.<\/p>\n
The blockchain’s recent agreement with China Telecom to deliver Web3-enabled mobile devices with blockchain-powered SIM cards has yielded substantial benefits.<\/p>\n
It is predicted that Conflux would connect conventional industry to Web3 technologies. Conflux has also recently\u00a0formed a strategic agreement with NFT-social media site Little Red Book.<\/p>\n
Banking Crises: A Boon For Crypto?<\/strong><\/h2>\n
Banking crises can provide a favorable atmosphere for the widespread adoption of cryptocurrencies as an alternative investment and store of wealth.<\/p>\n
Reduced confidence in conventional banking institutions, inflation fears resulting from the printing of more currency, and a rise in demand for safe-haven assets can all contribute to this.<\/p>\n
Related Reading: Cardano Sheds 23% In Value As ADA Woes Pile Up \u2013 Here\u2019s Why<\/a><\/div>\n
<\/p>\n
CFX total market cap at $674 million on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: USDC Feeling Intense Pressure Despite Fed Action To Halt SVB Contagion<\/a><\/div>\n
Some investors view cryptocurrencies as a safer choice because of their limited supply and decentralized nature.<\/p>\n
Meanwhile, the global crypto market capitalization recovered and reclaimed the $1.02 trillion milestone over the weekend, following several days of decline.<\/p>\n
At the time of writing, the global\u00a0crypto market valuation\u00a0was $1.03 trillion, representing an 8.33%\u00a0increase over the previous 24 hours.<\/p>\n
-Featured image from NASA<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The price of Conflux (CFX) increased for the second consecutive day as cryptocurrencies rebounded amid the ongoing crisis hounding the banking sector. Binance reports that CFX is the top-performing cryptocurrency on Monday. CFX achieved a peak of $0.2093, which was approximately 50% higher than the token’s all-time low less than a week earlier. In recent weeks, the price of CFX tokens increased by nearly 700%, reaching a high of $0.3595. CFX was trading at $0.2599 at the time of writing, up 38% in the previous 24 hours and 31% in the past seven days. Source: Coingecko Conflux Rises On Legalization Of Crypto Trading In HK Conflux’s trading volume grew in response to the enormous demand for China-related blockchains and tokens. It is the first blockchain in China that complies with regulatory requirements and uses the Tree-Graph consensus technique to boost bandwidth and scalability. According to analysts, the legalization of crypto trading in Hong Kong is the key factor behind Conflux’s increase. The expectation is that China will soon follow. The price of CFX has risen dramatically as word of this has circulated. Yet, it is unclear whether this report of China opening its market to cryptocurrencies is merely a speculation or whether it is grounded in truth. This has not hindered Conflux users from achieving profits in excess of 1,000%. Continual wagers that the U.S. Federal Reserve would not be as hawkish as anticipated also contribute to the growing price of CFX. Image: Financial Services Compensation Scheme The majority of analysts anticipate that the central bank will be more cautious in dealing with inflation in the upcoming sessions due to the changing market conditions. In February, the U.S. economy added over 300,000 jobs, according to data released on Friday. The unemployment rate is stagnant around 3.6%, although wage inflation is declining.\u00a0Experts predict that the United States’ inflation rate remained high last month. The blockchain’s recent agreement with China Telecom to deliver Web3-enabled mobile devices with blockchain-powered SIM cards has yielded substantial benefits. It is predicted that Conflux would connect conventional industry to Web3 technologies. Conflux has also recently\u00a0formed a strategic agreement with NFT-social media site Little Red Book. Banking Crises: A Boon For Crypto? Banking crises can provide a favorable atmosphere for the widespread adoption of cryptocurrencies as an alternative investment and store of wealth. Reduced confidence in conventional banking institutions, inflation fears resulting from the printing of more currency, and a rise in demand for safe-haven assets can all contribute to this. Related Reading: Cardano Sheds 23% In Value As ADA Woes Pile Up \u2013 Here\u2019s Why CFX total market cap at $674 million on the daily chart | Chart: TradingView.com Related Reading: USDC Feeling Intense Pressure Despite Fed Action To Halt SVB Contagion Some investors view cryptocurrencies as a safer choice because of their limited supply and decentralized nature. Meanwhile, the global crypto market capitalization recovered and reclaimed the $1.02 trillion milestone over the weekend, following several days of decline. At the time of writing, the global\u00a0crypto market valuation\u00a0was $1.03 trillion, representing an 8.33%\u00a0increase over the previous 24 hours. -Featured image from NASA<\/p>\n","protected":false},"author":557,"featured_media":522922,"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":[87981,87851,87852,6664],"class_list":["post-522913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bank-crisis","tag-cfx","tag-conflux","tag-crypto"],"acf":[],"yoast_head":"\nConflux Blasts Off 40% - Will CFX Soar Amid Banking Crisis?<\/title>\n<meta name=\"description\" content=\"The price of Conflux (CFX) increased for the second consecutive day as cryptocurrencies rebounded amid the ongoing crisis hounding the banking sector.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/conflux-blasts-off-nearly-70\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conflux Blasts Off 40% - 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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 Blasts Off Nearly 40% In Single Day – Will CFX Soar Higher Amid Banking Crisis?","url":"http:\/\/wncen.com\/news\/conflux-blasts-off-nearly-70\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/conflux-blasts-off-nearly-70\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-27.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-27.png?fit=666%2C407"},"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":["bank crisis","cfx","conflux","crypto"],"dateCreated":"2023-03-14T07:14:34Z","datePublished":"2023-03-14T07:14:34Z","dateModified":"2023-03-14T07:14:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Conflux Blasts Off Nearly 40% In Single Day – Will CFX Soar Higher Amid Banking Crisis?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/conflux-blasts-off-nearly-70\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/conflux-blasts-off-nearly-70\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-27.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-27.png?fit=666%2C407\"},\"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\":[\"bank crisis\",\"cfx\",\"conflux\",\"crypto\"],\"dateCreated\":\"2023-03-14T07:14:34Z\",\"datePublished\":\"2023-03-14T07:14:34Z\",\"dateModified\":\"2023-03-14T07:14:34Z\"}<\/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\/03\/a-27.png?fit=666%2C407","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522913"}],"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=522913"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/522922"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=522913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=522913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=522913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}