CFX Token Faces 2.16% Drop as Whale Moves 50M CFX Amid Network Upgrade and Ecosystem Shift

Conflux (CFXUSDT) experienced a 2.16% price decline over the past 24 hours, with the current price at $0.1721 on Binance. The recent volatility is primarily attributed to a large whale wallet transferring over 50 million CFX tokens to exchanges, which triggered a sharp sell-off and heightened market uncertainty. Additional factors influencing price movement include the implementation of the v3.0.1 hard fork aimed at improving network performance, and ongoing ecosystem developments such as the proposal to authorize locked CFX for strategic collaborations and the network upgrade redirecting 20% of transaction fees to an ecosystem fund. Trading volume has decreased, ranging from $35.35 million to $44.94 million, and the market capitalization is approximately $884 million, with a circulating supply of 5.13 billion CFX.