Conflux (CFX), one of China's major public blockchains, has emerged as the top daily gainer in the cryptocurrency market. The coin surged over 100%, reaching its highest level in seven months.
This rally was driven by several key developments, including the launch of Conflux 3.0 and a new stablecoin initiative, with the project preparing for new growth and attention.
Conflux (CFX), Surging Over 100%
Notably, Conflux is a Layer-1 blockchain using a hybrid consensus mechanism combining Proof of Work (PoW) and Proof of Stake (PoS). This blockchain provides fast, secure, and decentralized transaction processing.
Its unique tree-graph ledger structure and GHAST algorithm enable up to 3000 TPS confirmed within one minute. The network's native token CFX has been drawing attention with its recent triple-digit surge.
Over the past 24 hours, the altcoin's value has surged 105.4%. At the time of writing, CFX is trading at $0.23, its highest price since December 2024.
The token's market capitalization has exceeded $1.1 billion, significantly increasing from about $500 million the day before. Additionally, daily trading volume has surpassed $1.8 billion, increasing by 2,955.20%.
With a weekly surge of 122%, CFX's performance outpaces the broader cryptocurrency market. It is also the top daily and weekly gainer among cryptocurrencies. A top gainer.
Why Did CFX Token Price Surge?
What's behind this explosive rally? Several factors may have contributed to CFX's price increase. A key catalyst for this surge is the recent announcement of Conflux 3.0, set to launch in August.
Conflux's CTO, Dr. Guang Yang, highlighted the Conflux 3.0 architecture at the Conflux Technology & Ecosystem Development Conference held in Shanghai from July 18 to 20.
Conflux Technology & Ecosystem Conference 2025 | Day 1 Recap ๐
โ Conflux Network Official (@Conflux_Network) July 19, 2025
The opening ceremony set the tone for an exciting few days in Shanghai!
๐ค Key highlights from our amazing speakers:
* Dr. Guang Yang (Conflux CTO): "Conflux 3.0 Architecture" @GuangYang_9
* Prof. Andreasโฆ pic.twitter.com/B9D6qRSwTD
The upgrade promises to improve transaction processing to 15,000 per second and introduce artificial intelligence (AI) agent support.
Additionally, the network has collaborated with multiple partners to announce strategic plans. This initiative aims to facilitate cross-border payments according to China's Belt and Road strategy, promoting offshore RMB stablecoins.
"CFX surged 1.3 times yesterday! The Conflux Public Chain 3.0, known as 'China's Ethereum', will soon be launched to promote RMB stablecoin issuance under the 'Belt and Road' initiative," an analyst posted.
Moreover, last month, a major enterprise, Innovative Pharmaceutical Biotech, signed a non-binding memorandum of understanding (MOU) after first acquiring blockchain-related assets from Conflux, with the possibility of acquiring a new target company. This indicates increasing institutional interest in blockchain.
"According to the MOU, the company intends to acquire the entire issued shares of the target company, which will be completed after the target company acquires Conflux assets," the announcement states.
Therefore, these developments have fueled the recent price movement, highlighting the market's enthusiastic response. The next few weeks will be crucial in determining whether this surge leads to long-term gains or a correction following the current high interest.
