CFX Token Drops 14% After Tree Graph 3.0 Rally: High Volatility Follows Major Upgrade Announcement

Conflux (CFXUSDT) experienced significant volatility in the past 24 hours, with the price declining by 14.28% to $0.1837 on Binance after opening at $0.2143. This price correction follows a sharp rally driven by anticipation of the Tree Graph 3.0 mainnet upgrade, which promises increased network throughput, AI agent support, and the launch of an offshore yuan-pegged stablecoin in partnership with AnchorX and Eastcompeace Technology. The recent surge, highlighted during the Conflux Technology and Ecosystem Conference, attracted notable investor interest, particularly from the Asian market, and led to a substantial increase in trading volume and market capitalization. The current decline is likely due to profit-taking and market consolidation after the rapid ascent, with trading volume ranging from $450 million to $1.19 billion and a circulating supply of approximately 5.11 billion tokens.