Conflux (CFX) Shows Volatile Price Action Amid Mixed Crypto Market Trends
Main Idea
This week's crypto market saw significant volatility with Conflux, Pudgy Penguins, and Ethena leading gains, while Pump.fun, Tezos, and Sonic experienced declines, amid mixed trends and institutional interest in Ethereum.
Key Points
1. Conflux (CFX) surged 30% early in the week, reaching an all-time high of $0.246, but later retraced 80% to $0.15, indicating volatile price action.
2. Pudgy Penguins (PENGU) gained 28% with a more stable rally, showing potential to test higher resistance levels.
3. Ethena (ENA) rose 24.15%, pushing into a key supply zone at $0.60, despite a brief 11% pullback.
4. Pump.fun (PUMP) fell 34.62% due to heavy sell pressure, despite $19.6 million in buybacks.
5. Tezos (XTZ) dropped 17.23% after a previous 66.57% gain, with buyers defending the $0.80 support level.
6. Sonic (S) declined 15% after failing to break the $0.40 resistance, stabilizing around $0.32.
7. BlackRock’s Ethereum ETF surpassed $10 billion in assets under management, reinforcing institutional confidence in Ethereum.
8. Low- and mid-cap tokens dominated weekly movers, reflecting higher volatility and speculative trading.
Description
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