Conflux CFX Surges 29% on 3.0 Upgrade, Scales to 10,000 TPS

Conflux’s native token CFX surged 29% in 24 hours following the announcement of a major protocol upgrade, marking one of the largest price movements in the cryptocurrency market this week. The rally, which pushed the token’s price above $0.24, was driven by the project’s upcoming 3.0 upgrade, which promises enhanced scalability and energy efficiency through a hybrid consensus model combining proof-of-work (PoW) and proof-of-stake (PoS) mechanisms [1]. The upgrade aims to address scalability limitations while reducing energy consumption, aligning with broader industry trends toward sustainable blockchain infrastructure.

The technical overhaul includes optimizations to smart contract execution and transaction throughput, with the network now capable of processing up to 10,000 transactions per second [1]. These improvements position Conflux as a contender in the Layer 1 blockchain space, where competition remains fierce. Analysts highlight that the upgrade’s dual focus on performance and energy efficiency could attract institutional interest, particularly as regulatory scrutiny intensifies for energy-intensive networks. The project’s development team also emphasized plans for enhanced privacy features and cross-chain interoperability, with a roadmap extending to 2025 [1].

Market dynamics further amplified the price surge. Over $11 million in short positions were liquidated during the rally, reflecting heightened speculative activity. Derivatives open interest also rose, indicating growing participation from traders betting on continued volatility. While the price action mirrors historical patterns for CFX—previous surges often coincided with technical upgrades or regulatory news—the current momentum appears more robust, surpassing prior performance metrics [1].

The upgrade’s success hinges on real-world adoption, according to market observers. “Technical advancements are promising, but the true test will be whether enterprises and developers migrate to the upgraded network,” noted a commentator, underscoring the importance of ecosystem growth [1]. Conflux’s ecosystem partnerships, though not detailed in the announcement, are believed to play a role in the token’s recent performance. Additionally, unverified speculation about potential acquisitions by a Hong Kong-listed biotech company has fueled further market speculation, though no official confirmation has been provided [1].

Historically, CFX has demonstrated a strong correlation between technical upgrades and price appreciation. The 29% rally places Conflux among the week’s top-performing cryptocurrencies, with broader market sentiment—marked by stabilizing global equity indices—contributing to risk-on trades in digital assets. However, volatility remains a key concern, as any delays or technical challenges during the upgrade’s deployment could pressure gains.

The project’s leadership, including founder Dr. Fan Long and CTO Ming Wu, has not publicly commented on the recent surge. Despite this, the upgrade’s technical merits and strategic alignment with market demands have bolstered investor confidence. With the 3.0 upgrade entering public testing and enterprise-focused features on the horizon, Conflux’s trajectory will likely depend on sustained development and adoption rates in the coming months [1].

[1] Source: Cryptocurrency Rankings (https://cryptoslate.com/coins/)