CFX has recently been like riding a high-speed train, racing up to recent highs. According to Coin World, on August 3rd, the price of Conflux surged approximately 11.6% within 24 hours, climbing to around $0.215, with trading volume also skyrocketing, indicating a rather enthusiastic market sentiment. CoinDesk pointed out that over the weekend, there was an overall increase of about 14%, leading the CoinDesk20 index by 4%, however, on-chain activity did not increase simultaneously, with three accounts dominating 80% of gas usage, raising concerns among analysts about network centralization.
From a technical perspective, an article from CCN noted that CFX has accumulated a rise of 255% over the past 30 days, breaking through the flag consolidation area and forming a MACD golden cross, with strong short-term momentum. If the trend continues, it may challenge the $0.41 level; conversely, if selling pressure returns, it may pull back to the support level around $0.14. Overall, CFX is leading a rebound after the decline, but the fundamentals have not yet caught up, so it will be important to observe whether trading volume can continue and whether on-chain activity is truly increasing.
