CFX (Conflux) fell 6.46% in the last 24 hours.

Gate News Bot news, August 6, according to CoinMarketCap data, as of the time of this report, CFX (Conflux) is currently priced at $0.20, down 6.46% in the last 24 hours, with a high of $0.23 and a low of $0.19. The 24-hour volume reached $175 million. The current market capitalization is approximately $1.031 billion, a decrease of about $71.25 million from yesterday.

Conflux is a high-throughput public chain that uses an innovative Tree-Graph consensus algorithm to reduce confirmation times and increase TPS through parallel processing of blocks and transactions. Conflux employs a thoroughly tested PoW consensus, providing higher security and protection against re-entrancy attacks at the protocol level. Its built-in staking feature provides a foundation for innovative DeFi applications, with staked tokens currently yielding an annualized return of 4%. The token economy of Conflux is built on the $CFX token, serving as the value unit of the platform, allowing token holders to pay transaction fees, earn rewards through staking, rent storage space, and participate in network governance.

Important news about CFX recently:

1️⃣ The launch of the new exchange brings market volatility MGBX will launch CFX spot trading on August 4, 2025, at 19:30 (SGT). The addition of the new exchange brings additional liquidity and trading demand to CFX, while also triggering short-term price fluctuations. This event reflects the market's ongoing interest in CFX but also increases uncertainty in the short term.

2️⃣ Price volatility highlights unstable market sentiment CFX has experienced significant price volatility over the past week. On August 4, there was a single-day increase of 14.44%, followed by a single-day decrease of 14.05% on August 2. This sharp price fluctuation reflects the market's high interest in CFX, while also suggesting a higher level of speculation that could lead to continued price fluctuations in the short term.

3️⃣ Volume remains high, indicating market activity Despite the price correction, the 24-hour volume of CFX remains at a high level of 175 million USD. The sustained high volume indicates that market participation remains active, which may provide some support for future price trends. However, investors should be wary of the potential risks hidden behind high trading volumes.

From a technical perspective, the CFX price encountered resistance near $0.23 and subsequently fell back to around $0.20. The current price is in the middle of the recent fluctuation range, and investors need to closely monitor the performance of the $0.23 resistance level and the $0.19 support level to assess the market direction. In the short term, CFX may continue to oscillate within this range until stronger market drivers emerge.

This message is not intended as investment advice; investors should be aware of market volatility risks.