The Conflux (CFX) token has experienced a rapid price surge fueled by optimism surrounding a forthcoming upgrade and the development of a yuan-based stablecoin.
Conflux Token Prices
The Conflux token (CFX) surged to a peak of $0.2730, the highest price since April last year, representing a 370% increase from its lowest point this year. The project now boasts a market capitalization exceeding $1.3 billion.
Upcoming Conflux 3.0 Upgrade
The surge in CFX is linked to the announcement of a quarterly community call scheduled for Wednesday. During this session, developers will provide insights into the upcoming Conflux 3.0 upgrade, set for August, which promises to increase transaction throughput from the current 3,000-6,000 transactions per second to 15,000. The upgrade will notably include support for artificial intelligence agents and a pilot project for a yuan-backed stablecoin.
Conflux Price Technical Analysis
The daily price chart shows that CFX has rebounded from a low of $0.0636 in April to $0.2726. A 'golden cross' pattern is present, along with a 'cup-and-handle' formation, indicating potential for a breakout toward a target price of $0.790.
The upcoming hard fork and improvements expected with the Conflux 3.0 upgrade create a favorable environment for further growth of the CFX token. Investors are eagerly awaiting information to be detailed at the community call.
