Conflux CFX surges 70% on 3.0 upgrade announcement

Conflux's native token, CFX, surged approximately 70% on July 21, climbing from around $0.1450 to a local high of $0.2416. This significant jump was fueled by the announcement of the Conflux 3.0 upgrade, which has been eagerly awaited by the community. The upgrade is set to introduce several enhancements to the Conflux network, including improved scalability, security, and overall performance. These improvements are expected to attract more developers and users to the platform, further boosting the value of CFX.

The Conflux 3.0 upgrade marks a major milestone for the Conflux network, aiming to address key challenges in blockchain technology. By enhancing scalability, the upgrade will enable the network to handle over 15,000 transactions per second, making it more efficient and cost-effective for users. Additionally, the improved security measures will help protect the network from potential threats and vulnerabilities, ensuring the safety of user funds and data. The upgrade will also introduce the Tree-Graph consensus mechanism, enabling parallel processing of transactions and blocks, and allow developers to invoke AI agents on-chain, making Conflux one of the first major networks to incorporate AI directly into its smart contract layer.

The positive market reaction to the Conflux 3.0 upgrade announcement reflects growing interest and confidence in the Conflux network. Investors and traders are optimistic about the potential of the upgrade to drive further adoption and growth of the platform. As more users and developers join the Conflux ecosystem, the demand for CFX is likely to increase, potentially leading to further price appreciation. The upgrade is part of the network's ongoing efforts to innovate and improve its technology, paving the way for future developments and enhancements. With its focus on scalability, security, and performance, Conflux is well-positioned to compete with other blockchain networks and attract a wider user base.

Conflux is also building the necessary infrastructure to support tokenized real-world assets and blockchain-based cross-border trade, including a proposed offshore Chinese yuan stablecoin. If successful, it could help China reach its long-term goal of internationalizing its currency through digital rails. The rally, which gained steam after the network’s Shanghai ecosystem conference concluded on July 20, has pushed Conflux (CFX) to a one-month gain of over 200% and a seven-day rise of approximately 104%. Along with the recent breakout, the token’s market capitalization now stands at $1.12 billion, having reclaimed the $1 billion mark. Even after this rebound, CFX is still almost 87% below its peak of $1.70, which was reached in March 2021.