TL;DR
- Conflux (CFX) jumps 38% to $0.27, topping the list of crypto gainers on July 29.
- Key drivers are the AI collaboration with OrcaMind, the DeFi integration with Fufuture, and the launch of the offshore yuan stablecoin.
- Technical outlook hints at a potential breakout towards $0.50 if bullish momentum holds.
Conflux Network‘s native token, CFX, exploded by 38% within 24 hours early on July 29, reaching $0.27 and topping major gainers’ charts. This surge propelled CFX to levels unseen since mid-April, accompanied by a significant spike in daily trading volume. The dramatic upswing reflects renewed market confidence driven by high-impact network developments.
Strategic Partnerships Fuel the Fire
The price surge coincides with multiple strategic integrations cementing Conflux’s position in DeFi and AI. A key collaboration with OrcaMind.AI will implement AI-based payment solutions directly on the Conflux Network. Simultaneously, collaborating with the decentralized perpetuals platform Fufuture aims to integrate advanced trading features, broadening CFX’s utility and adoption. These build on momentum from the recent unveiling of an offshore yuan-pegged stablecoin alongside AnchorX and Eastcompeace Technology.
Technical Breakout Eyes $0.50
Technically, CFX’s outlook has turned decidedly bullish. The token has increased by 34% in the last week and an incredible 250% over the past month. Analysts suggest the current momentum could trigger a retest of the critical $0.50 resistance level, last challenged months ago.
While still far below its 2021 all-time high of $1.70, the recent parabolic move signals strong buying pressure. Sustained volume and holding above new support near $0.26 are key watchpoints. At the time of writing, CFX continues its upward momentum, trading at around $0.26 and increasing nearly 40%.
Future Trajectory: AI & Real-World Assets
Conflux’s future hinges on executing its roadmap. The recent mainnet upgrade enhances scalability, vital for ambitions in real-world asset tokenization and cross-border payments, areas bolstered by its significant backing within China. Continued leverage of its AI integrations and cross-chain capabilities could solidify CFX’s upward trajectory. While volatility remains a factor, a decisive break above $0.50 opens the path towards $1. Conversely, failure could see retracements to $0.20 or $0.15 support.
