CFX Token Drops 22.99% After Major Rally: Market Reacts to Conflux 3.0 and Stablecoin News

Conflux (CFXUSDT) experienced a sharp 22.99% price decline over the past 24 hours, with the current price at $0.1682 on Binance, following a period of significant volatility and a strong rally earlier in the week. The recent price correction is primarily attributed to profit-taking and market consolidation after the asset surged over 70% in the previous week, driven by positive sentiment around the upcoming Conflux 3.0 network upgrade—aimed at increasing transaction capacity and integrating AI—and the announcement of a partnership with AnchorX to launch an offshore yuan-pegged stablecoin. Trading volume remains elevated, with 24-hour figures ranging from $430 million to over $1 billion, and the market capitalization is approximately $900 million, reflecting continued high market interest despite the recent pullback.