Conflux (CFX) Rallies 7% on Institutional Partnerships and Upgrades

Conflux Network’s native token, CFX, surged 7% following a significant price rebound amid new upgrades and expanding institutional partnerships. The rally came after a sharp 27% drop the previous day, as bulls attempted to reestablish control near the key $0.20 support level. The move reflects growing momentum for Conflux, which has positioned itself as China’s only government-approved Layer-1 blockchain and continues to attract interest in the regulated crypto space in Asia[1].

The blockchain platform, known for its Tree-Graph consensus mechanism and hybrid proof-of-work and proof-of-stake model, has been gaining traction for its speed, scalability, and compliance features. These advantages have fueled adoption across various use cases, from decentralized applications to Web3 development. Institutional trust has also grown with the help of strategic partnerships with entities such as the Shanghai Municipal Government, China Telecom, and Little Red Book, which integrated Conflux for NFT minting[1].

Recent developments include a partnership with AnchorX and Eastcompeace to launch a CNH-pegged stablecoin aimed at facilitating Belt and Road cross-border trade. Additionally, Conflux joined the AGNT Hub ecosystem to connect decentralized economies worldwide and enable cross-border collaboration among creators, communities, and markets[1].

Despite these positive developments, technical indicators suggest the recent price rebound may be short-lived. On-chain metrics show weakening momentum near the $0.2338 resistance level, where the price stalled. The 30-minute price chart indicates that the current rally appears corrective rather than a new bullish trend. The RSI and MACD indicators have cooled off, with no signs of bullish divergence, signaling caution for short-term traders[1].

Volume footprint data further supports this narrative. Positive delta during the move toward $0.2338 gave way to negative delta just below $0.218, indicating that passive sellers absorbed market buys. Unless the price reclaims the $0.218–$0.220 range, further downside pressure is likely. A break below $0.209 could expose key support levels at $0.201 and possibly retest the $0.191 base[1].

Conflux’s total value locked (TVL) stands at approximately $16.72 million, according to DeFiLlama. The platform supports 25+ million users and 170+ million transactions, with its ecosystem expanding through DeFi, NFT platforms, and interoperability tools like ShuttleFlow. Analysts point to the upcoming Conflux 3.0 mainnet upgrade and expanding real-world use cases as potential catalysts for continued growth in 2025[1].

Source: [1] Conflux (CFX) Surges 7% Amid Breakout Rally and Major Upgrades (https://cryptonews.com/news/conflux-cfx-surges-7-amid-breakout-rally-and-major-upgrades/)