CFX (Conflux) rose 1.59% in the last 24 hours.

Gate News Bot news, August 19, according to CoinMarketCap, as of the time of writing, CFX (Conflux) is currently priced at $0.17, rising by 1.59% in the last 24 hours, with a high of $0.21 and a low of $0.17. The current market capitalization is approximately $88.3 million, an increase of $1.38 million compared to yesterday.

Conflux is a high-throughput public blockchain that implements parallel processing of blocks and transactions through an innovative Tree-Graph consensus algorithm, reducing confirmation times and increasing TPS. The network uses a PoW consensus mechanism to provide higher security and has a built-in staking mechanism to offer an innovative foundation for DeFi applications. Conflux also achieves seamless asset transfers between multiple protocols through the ShuttleFlow cross-chain asset bridge, while featuring excellent scalability and low transaction fees. Its native token CFX is used to pay transaction fees, staking rewards, storage rent, and participate in network governance.

Important news about CFX recently:

1️⃣ Price rebound indicates market sentiment improvement The CFX price experienced a significant drop on August 15, but has recently shown a slight rebound, with a 24-hour rise of 1.59%. This rebound indicates that the market's outlook on CFX may be shifting towards a positive direction, and investor confidence has somewhat recovered.

2️⃣ Market capitalization rise reflects fund inflow CFX market capitalization has decreased from $911 million on August 15 to the current $88.3 million. Although it is still at a low level, there has been a slight rise compared to the previous day. The rebound in market capitalization indicates that new funds are flowing into the CFX market, which may suggest that buying power is strengthening.

3️⃣ Price fluctuation range narrows The CFX price has fluctuated between $0.17 and $0.21 in the past 24 hours, which is a narrowing compared to the previous volatility. This reduction in fluctuation may indicate that the market is seeking a new equilibrium, and the risk of significant volatility in the short term may be reduced.

From a technical perspective, the CFX price is currently seeking support near $0.17, a level that is close to previous lows. If it can hold this level, it may lay the foundation for a future rebound. Investors should pay attention to the resistance level around $0.21; a breakthrough at this position may trigger further pump.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.