Author: 1912212.eth, Foresight News
On July 20, the price of Conflux public chain token CFX entered a skyrocketing mode, rising from around $0.11 to a peak of $0.25, with a single-day increase of over 100%. In July this year, the monthly increase reached 202%, and if calculated from the bottom of $0.02 in December 2022, it has recorded an increase of over 10 times. As of now, the market capitalization of the token is approximately $870 million.
As a relatively unique entity among domestic public chains, Conflux's market capitalization performance is not particularly eye-catching, but a recent piece of news is worth noting.
Recently, an article published in the Liberation Daily stated that the Conflux Tree Graph Technology and Ecological Development Conference was held in Shanghai, where the Conflux Tree Graph public chain released 3.0 and announced plans to participate in the 'Belt and Road' offshore RMB stablecoin issuance pilot. The article was also reprinted on the Shanghai Municipal Government website.
'Belt and Road' offshore RMB stablecoin issuance
The wave of stablecoins is sweeping the globe, and the vast application scenarios are of great interest to the market. Conflux plans to participate in the 'Belt and Road' offshore RMB stablecoin issuance pilot. This pilot focuses on issuing stablecoins pegged to offshore RMB (CNH), aiming to facilitate cross-border trade settlement and RWA applications, covering countries along the 'Belt and Road', especially in Central Asia and Southeast Asia.
The domestic market has also begun to pay attention to the heat of stablecoins. An article published by the National Financial and Development Laboratory's WeChat public account indicates that Deputy Director Yang Tao recently pointed out that stablecoins have surpassed the traditional offshore and onshore categories, and a linked development model of domestic offshore and foreign offshore RMB stablecoins should be considered. The article suggested that related innovations in RMB stablecoins could be promoted simultaneously in the Shanghai Free Trade Zone and Hong Kong.
In addition, according to reports from People's Finance Network, the Shanghai Municipal State-Owned Assets Supervision and Administration Commission recently held a study meeting to learn about the development trends and response strategies of cryptocurrencies and stablecoins.
Since its proposal in 2013, China's 'Belt and Road' Initiative (BRI) has become the world's largest infrastructure and trade cooperation framework, covering multiple continents including Asia, Europe, and Africa, involving nearly 150 countries and regions. Its market space is mainly reflected in trade volume, investment scale, and contribution to economic growth. According to the latest data, total investment in BRI has exceeded $1 trillion, and by 2030, BRI is expected to generate $1.6 trillion in annual revenue, connecting China to 229 cities and driving growth through energy, mining, and technology sectors.
According to a report from Shangguan News, at this meeting, Conflux also signed strategic cooperation agreements with institutions such as AnchorX and Dongxin Peace to jointly explore the issuance of stablecoins, cross-border payments, and asset settlement. AnchorX is a fintech company headquartered in Hong Kong that has created a stablecoin pegged to the Hong Kong Dollar, AxHKD. Hony Capital provides resource support and business collaboration for AnchorX.
Negotiations are underway with the Hong Kong-listed company regarding acquisition matters, and public chain 3.0 will be released in August.
The Conflux public chain 3.0 upgrade is the technical driving force behind this price surge. The upgrade is scheduled to officially launch in August 2025, and version 3.0 further introduces parallel block processing and AI agent support, increasing TPS from the current 3000-6000 to over 15,000, and even higher levels in simple payment scenarios.
In addition to the technical upgrade, another important announcement recently attracted market attention. The Hong Kong-listed company Navigating Pharmaceuticals Biotechnology (00399) announced that on June 30, 2025, the company (as the buyer) has entered into a memorandum of understanding with the seller (Northwestern Foundation) and Conflux regarding the potential acquisition of 100% of the target company's equity, contingent upon the target company completing the acquisition of Conflux assets according to the agreement with the company.
After the announcement, the Hong Kong-listed company Navigating Pharmaceuticals (HK:00399) saw its stock price rise by as much as 240% during the session, reaching a peak of 0.7 HKD.
The two founding members of Conflux, Long Fan and Wu Ming, are both executive directors of Navigating Pharmaceuticals. According to Roodata data, Wu Ming and Long Fan are also core team members of the AI public chain OG, with Wu Ming serving as the co-founder and CTO of the project.
