On July 20, the Conflux blockchain token $CFX was launched

On the rise, increasing from about $0.11 to a peak of $0.25, with a daily increase exceeding 100%. In July of this year, it recorded a 202% increase, and compared to the low of $0.02 in December 2022, it has achieved more than 10 times. Currently, the market cap of the token is about $870 million.

As a unique local blockchain, Conflux's market cap performance is not particularly remarkable, but there is a recent newsworthy development.

Recently, the Daily Liberation published an article stating that a technology and ecosystem development conference for Conflux Tree Graph was held in Shanghai. During the conference, Conflux Tree Graph launched version 3.0 and announced plans to participate in the pioneering experiment for issuing an external renminbi stablecoin for the Belt and Road Initiative. The article was also republished on the Shanghai Municipal Government's website.

Issuance of an external renminbi stablecoin for the Belt and Road Initiative

A wave of stablecoins is sweeping the world, with their wide application scenarios attracting significant market interest. Conflux plans to participate in the pioneering experiment for issuing an external renminbi stablecoin for the Belt and Road Initiative. This experiment focuses on issuing a stablecoin linked to the external renminbi (C,NH), aiming to enhance cross-border trade settlement and real asset applications, covering countries along the Belt and Road, especially in Central and Southeast Asia.

Locally, attention is also being drawn to stablecoins. An article published on the official WeChat account of the National Laboratory for Finance and Development indicates that Deputy Director Yang Tao recently wrote about how stablecoins are transcending the traditional boundaries between domestic and foreign, suggesting consideration of a related development model for local and foreign external renminbi stablecoins. The article proposed exploring renminbi stablecoin innovation in the Shanghai and Hong Kong free trade zones simultaneously.

Additionally, according to the People's Financial Daily, the Shanghai State-owned Assets Supervision and Administration Commission recently held a central group meeting to study development trends and response strategies for cryptocurrencies and stablecoins.

Since its proposal in 2013, the Chinese Belt and Road Initiative (BRI) has become the largest framework for infrastructure and trade cooperation in the world, covering multiple continents including Asia, Europe, and Africa, and involving nearly 150 countries and regions. Its market potential is primarily reflected in trade volume, investment volume, and contribution to economic growth. According to the latest data, the total investments in BRI have exceeded one trillion dollars. By 2030, BRI is expected to generate annual revenues of $1.6 trillion, linking 229 cities in China and driving growth through the energy, mining, and technology sectors.

According to Shanghai Observer, Conflux also signed strategic cooperation agreements at this conference with institutions such as AnchorX and Dongxing Biss to explore the issuance of stablecoins, cross-border payments, and joint asset settlements. AnchorX is a financial technology company based in Hong Kong that created AxHKD, a stablecoin pegged to the Hong Kong dollar. Honey Capital provides resource support and business synergy for AnchorX.

Discussion of acquisition with a Hong Kong-listed company, launching Blockchain 3.0 in August

The upgrade of Conflux Blockchain 3.0 is a technical driving factor for this price surge. It is scheduled for official launch in August 2025, offering further parallel block processing and AI agent support, increasing the transaction rate per second from the current 3000-6000 to over 15,000, possibly higher in simple payment scenarios.

In addition to technical upgrades, another important announcement attracted market attention. Lingxing Medical Technology (00399), listed in Hong Kong, announced that on June 30, 2025, the company (as the buyer) entered into a memorandum of understanding with the seller (Northwestern Institution) and Conflux regarding a potential acquisition of all equity rights of the target company, provided that the target company completes the acquisition of Conflux's assets according to the agreement.

After the announcement, Lingxing Medical Technology (HK:00399) rose by 240% during the day, with the stock price reaching a peak of HKD 0.7.

Two of Conflux's founding members, Long Fan and Wu Ming, are also executive directors at Lingxing Medical. According to Roo,,data, Wu Ming and Long Fan are also key members of the AI Blockchain team O,G, where Wu Ming is the co-founder and technical director of the project.

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