Conflux CFX ($CFX ) shares rise on China news, but analysts say fundamentals are still lagging

Despite optimistic headlines and ties to China, Conflux’s performance on the network remains weak, even according to insiders who suggest that Beijing may be starting to look favorably on some forms of digital assets.

What you should know:

Conflux soared 14% over the weekend, outperforming 20’s 4% gain.

Despite its market success, Conflux's on-chain activity remains stagnant, with transaction levels down from 2022 averages.

Conflux #CFX faces centralization issues as 80% of gas usage is accounted for by just three accounts, which contrasts with the more distributed Ethereum network.