Conflux Token (CFX) has recorded a significant drop of over 14% in the past 24 hours, with its price currently standing at $0.2352. The trading volume for the same period reached $41 million, while its market capitalization sits at $811 million, placing it at the 95th position among all cryptocurrencies.
Over the past day, CFX reached a high of $0.2799 and a low of $0.2312. The circulating supply of the token is 2,878,681,356 CFX.
What Is Conflux Token (CFX)?
CFX is the native token of the Conflux Network, a public blockchain that aims to deliver a high-performance platform for decentralized applications (dApps). The project distinguishes itself by claiming to be the first and only public chain that achieves high transactions per second (TPS) without compromising on decentralization or security.
The Conflux Network has allocated over 2.4 billion CFX tokens to incentivize ecosystem development. This includes funding for developer tools, infrastructure projects, and dApp creation.
CFX Price Performance Overview
Here’s a breakdown of CFX’s recent price movements:
- Last 7 days: +38.26%
- Last 30 days: -16.91%
- Last 90 days: -21.89%
- Last 6 months: +1,012.07%
- Year-to-date: +1,067.42%
Despite the sharp one-day decline, the token has posted substantial gains over a longer six-month horizon.
Understanding Market Volatility in Crypto
Cryptocurrency markets are known for their high volatility. Rapid price swings can occur due to various factors, including:
- Broad market sentiment
- Changes in regulatory news
- Shifts in trading volume
- Updates or developments within the project itself
For tokens like CFX, which have seen significant growth in a relatively short time, pullbacks are not uncommon as traders take profits or reassess market conditions.
How To Analyze Crypto Market Trends
Staying informed requires more than just tracking prices. Understanding project fundamentals, network activity, and broader market trends is essential for a complete picture.
Traders and investors often use a combination of technical and fundamental analysis. They also rely on reliable data sources and trading tools to monitor real-time movements and make informed decisions.
👉 Explore real-time market analysis tools
Frequently Asked Questions
What is Conflux Network?
Conflux Network is a public, open-source blockchain protocol designed to offer high throughput and scalability. It uses a unique Tree-Graph consensus mechanism to achieve fast transaction speeds without sacrificing security.
Why did CFX drop more than 14% in one day?
Short-term price movements can be influenced by many factors, including overall market conditions, profit-taking after a strong rally, or changes in investor sentiment. Always consider the broader context beyond a single day’s performance.
What is the long-term outlook for CFX?
While short-term volatility is common, long-term value often depends on the project's ability to grow its ecosystem, increase adoption, and continue technological development. Research the project’s roadmap and community activity for deeper insights.
How can I track CFX’s price in real-time?
Many cryptocurrency exchanges and market data websites offer real-time price tracking, charts, and technical indicators. Using a reputable platform can help you stay updated on the latest movements.
Is CFX a good investment?
All investments carry risk, especially in volatile markets like cryptocurrency. It is important to do your own research, assess your risk tolerance, and consider seeking advice from a financial professional before making any investment decisions.
Where can I learn more about trading strategies?
Educational resources, community forums, and official project documentation are great starting points. Many platforms also offer advanced charting tools and historical data to help you develop and test strategies.