Conflux (CFX) Jumps 42% as a New Yuan-Backed Stablecoin Is Announced
Main Idea
Conflux (CFX) surged 42% due to the announcement of a new yuan-backed stablecoin and the upcoming Conflux 3.0 upgrade, with trading volume increasing by 320% and technical indicators confirming bullish momentum.
Key Points
1. Conflux (CFX) surged nearly 42% in 24 hours, driven by the announcement of a yuan-backed stablecoin and the Conflux 3.0 upgrade.
2. Trading volume spiked 320% to $619.1 million, indicating strong investor interest and breakout strength.
3. Technical indicators like RSI (82.04) and MACD (0.00834) confirm bullish momentum but suggest potential short-term overheating.
4. Conflux's market cap increased by 41.72%, reaching $1.36 billion.
5. Resistance is noted near $0.28, with potential for further gains if this level is breached.
Description
Conflux surges 42% amid yuan-backed stablecoin and Conflux 3.0 upgrade buzz Trading volume jumps 320%, signaling strong investor interest and breakout strength RSI and MACD confirm bullish momentum but warn of potential short-term correction Conflux (CFX) has captured the market’s attention with a powerful surge of nearly 42% in the last 24 hours. This dramatic move is driven by two major catalysts: the announcement of a new yuan-backed stablecoin and growing excitement around the upcoming Confl...
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