$CFX Main Reasons for the 100% Increase 🚀💣
The price of Conflux (CFX) has experienced a significant increase, and research points to several key factors that could explain this growth.
Below are the main reasons, based on recent analysis:
1. Integration with "Little Red Book": In January, Conflux integrated with the Chinese version of Instagram, allowing 200 million users to showcase NFTs, which generated a 60.25% price increase, rising from $0.022 to $0.051, with trading volume skyrocketing 373% to $57 million (NewsBTC).
2. Strategic Partnerships: The partnership with China Telecom to develop blockchain-based SIM cards, with 390 million subscribers, contributed to a 20% price increase, enhancing the project's credibility (NewsBTC).
3. Collaborations with Brands and Government: Collaborations with Oreos China, McDonald’s China, and a $5 million grant from the Shanghai government in 2021 increased visibility, with a price spike of 60% following the grant (NewsBTC).
4. Regulatory Compliance: As a regulated blockchain in China post-2021, Conflux acts as a bridge between Web3 and traditional institutions, making it attractive in the market (NewsBTC).
Market Performance: Trading volume increased by 1,901.70% to $611 million in 24 hours, with a current price of $0.213523 USD, reflecting strong market interest (Crypto API Data).
