CFX Token Drops 7.6% After v3.0.0 Upgrade Amid High Volume and Market Consolidation

Conflux (CFXUSDT) experienced a notable price decline of 7.60% over the last 24 hours, with the current price at $0.2042 according to Binance. This downward movement follows a period of heightened volatility and consolidation after the recent v3.0.0 protocol upgrade, which introduced enhanced EVM compatibility and new Proof-of-Stake consensus rules. The initial bullish momentum, driven by anticipation and subsequent launch of Conflux 3.0 and increased ecosystem activity, led to significant gains in late July and early August. However, recent profit-taking, consolidation below key resistance levels, and mixed technical signals have contributed to the current pullback. Trading volume remains high, reflecting ongoing market interest, with the circulating supply around 5.1 billion tokens and market capitalization exceeding $1 billion.