The crypto project Conflux Network (CFX) is cooking again, and this time it does not look like some random pump. CFX is riding on recent burns, staking, and fresh collab news in Asia.#CryptoTrends2024 $CFX
Meanwhile, President Trump and President Xi had a phone call on the 5th of June. It was 90 minutes on, and it looks like a lot of alpha has been dropped. The market reacted bullish to what Trump said afterwards.
CFX: China’s Crypto Blockchain is Back in the Game
Conflux (CFX) is a Layer 1 blockchain known for its hybrid design. Both PoW and PoS and Tree-Graph consensus enable fast and scalable transactions.
It is the leading regulated and approved chain in China, making it the most desirable through Chinese initiatives. It is EVM-compatible and cross-chain, growing through many Asian partnerships.
CFX blends real-world use case with geopolitical narrative, giving it some serious potential.
New CFX Highs
Like the price action, the wave count suggests that Conflux has ended its correction and that the coin will reach new highs.
The count shows a rapid but short five-wave increase since the start of 2023.
Then, it started a nearly two-year A-B-C correction (red), ending with the June low of $0.059.$BTC