In the past 24 hours, the cryptocurrency CFX (Conflux Token) has experienced a significant surge of over 9.36%. Its latest price stands at $0.2581, with a total trading volume reaching $89 million. The token's market capitalization is now $811 million, ranking it 95th among all cryptocurrencies.
The 24-hour high was $0.2699, while the low touched $0.2318. The circulating supply of CFX is currently 2,878,681,356 tokens.
What Is CFX (Conflux Token)?
CFX is the native utility token of the Conflux Network. Conflux is dedicated to building a next-generation, high-performance public blockchain platform. It stands out as the first and only public chain to achieve high transactions per second (TPS) without compromising on decentralization or security.
The Conflux Network has allocated over 2.4 billion CFX tokens to incentivize ecosystem growth. This includes funding for development tools, infrastructure, and decentralized applications (DApps).
Recent Performance Analysis
Here’s a breakdown of CFX’s historical performance across different timeframes:
- Past Week: +38.22%
- Past Month: -23.56%
- Past 3 Months: -34.28%
- Past 6 Months: +970.87%
- Year-to-Date: +1,014.48%
This performance highlights a remarkable long-term growth trend despite recent short-term volatility, making it a token of significant interest for many investors.
Understanding the Conflux Network's Value Proposition
The core innovation of Conflux lies in its unique consensus mechanism. It combines Proof-of-Work (PoW) with a novel Tree-Graph structure to enable high throughput and fast confirmation times. This technology aims to solve the blockchain trilemma of achieving scalability, security, and decentralization simultaneously.
For users and developers, this means the potential for lower transaction fees and a more robust platform for building scalable DApps, from DeFi protocols to NFT marketplaces and beyond.
How to Stay Updated on Market Movements
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Frequently Asked Questions
What is the Conflux Network used for?
Conflux Network is a public blockchain designed as a high-throughput platform for decentralized applications (DApps) and smart contracts. It aims to provide a scalable environment for developers to build projects without the high fees and congestion seen on other networks.
Why did CFX price increase recently?
Short-term price movements can be driven by a variety of factors, including overall market trends, positive project-specific news, increased trading volume, or broader investor interest in the crypto sector. Always refer to the latest market data for context.
Where can I learn more about trading strategies?
Numerous educational resources cover fundamental and technical analysis for cryptocurrencies. It's important to conduct your own research and understand market risks before investing. 👉 Explore advanced trading methods
Is CFX a good long-term investment?
Investment potential depends on individual risk tolerance and market research. While its technology is promising, the crypto market is highly volatile. Examining the project's fundamentals, development activity, and market position is key.
What is the total supply of CFX?
The total maximum supply of CFX tokens is fixed. The circulating supply, which is the number of coins currently available to the public, is a critical metric for evaluating its market capitalization.
How does Conflux achieve high scalability?
Conflux uses a unique Tree-Graph consensus algorithm that allows for the concurrent processing of blocks and transactions. This parallel processing capability is what enables its high throughput compared to traditional linear blockchains.