Conflux (CFX) Shows Mettle, Shoots Up Over 87% Despite Crypto Market Pressures

Christian Encila

Last Updated: March 17, 2023 6:40 am

3 mins read

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Although Bitcoin is far and away the most popular cryptocurrency, there are other digital currencies like Conflux (CFX) that are doing rather well. In order to achieve even greater levels of success than its rivals, Conflux is constantly innovating and expanding its business.

Conflux is building a system with real-world companies to make its currency more important in the cryptoverse. While some other digital currencies are not performing up to par anymore, Conflux is on the rise and could be a major player in the future.

Proof of this is how the Conflux network’s governance token, CFX, has been putting up a solid performance of late. At the time of writing, CFX is trading at $0.3134, up an impressive 87.2% in the last seven days as the rest of the major cryptocurrencies shed a great deal of their value.

Source: Coingecko

Based on data by crypto market tracker Coingecko, CFX has registered a solid 456% increase in the last month. In the final week of February, the token reached a high of $0.3690 before retracing to a low of $0.3145. Its price is around 130% higher than its lowest level this month. I ts value has increased this year by more than 1,300%, making it one of the top gaining coins.

Source: Coingecko

Conflux network (CFX), also known as China’s MATIC, is undeniably a high-growth token whose price movement has captivated the majority of industry analysts since the beginning of the year.

The sudden failure of three major banks – Silvergate Capital, Silicon Valley Bank, and Signature Bank – has raised concerns about the future of the digital asset industry and whether it will continue to have access to traditional finance in the U.S.

Despite the recent banking collapse in the United States that has become a source of worry for those in the crypto industry, some cryptocurrency projects emerge unscathed, and CFX is one of them.

Meanwhile, a cursory examination of the platform’s on-chain stats reveals that the number of new accounts has reached its highest level for 2023. The overall number of new accounts on the network reached an all-time high of 18,000. This indicates that investors are increasing interest in the network.

BTCUSD reclaims the $25k handle and trades at $25,856 on the daily chart at TradingView.com.

Also, Conflux has maintained a solid ecosystem pattern of development, which has also contributed to its price spike. The CFX token is also deemed and labeled as one of the Binance Smart Chain ecosystem’s top projects with the most social connection.

Conflux’s trading volume grew in response to the increasing demand for China-related blockchains and tokens. The Conflux is the only blockchain in China that complies with legal requirements and utilizes the Tree-Graph consensus mechanism for increased throughput and scalability.

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Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.