CFX Token Slides 7.94% After 100% Weekly Surge Amid Conflux 3.0 Upgrade and Record Trading Volume

Conflux (CFXUSDT) has experienced heightened volatility in the past 24 hours, with the price declining by 7.94% to $0.2144 on Binance. This pullback follows a period of rapid appreciation driven by the completion of the Conflux 3.0 upgrade, which enhanced network throughput and introduced support for AI and real-world asset applications, as well as the launch of an offshore RMB stablecoin pilot for cross-border settlements. The recent surge, which saw CFX gain over 100% in the past week, was further fueled by strategic partnerships, increased investor interest, and a significant short squeeze in the derivatives market. However, the current price movement reflects profit-taking and consolidation after the sharp rally, with technical indicators suggesting overbought conditions.

Currently, CFXUSDT is trading at $0.2144 with a 24-hour trading volume exceeding $733 million and a circulating supply of approximately 5.11 billion CFX, as the market digests recent gains amid ongoing volatility.