Conflux ($CFX) Surges 49.35% in 24 Hours, Can the Momentum Push Price to $0.30?

Key Points

1. Conflux ($CFX) price increased by 49.35% to $0.2253, with a market cap of $1.15 billion and 24-hour trading volume of $1.73 billion.

2. The surge is attributed to strategic developments, including AI integration, cross-chain utility, and backing from China, with 80% bullish sentiment among participants.

3. Conflux 3.0 upgrade, expected in August, aims to increase transaction speeds to 15,000 TPS and enhance Ethereum Virtual Machine compatibility for DeFi applications.

4. A partnership with AnchorX and Eastcompeace Technology to issue an offshore yuan stablecoin (AxCNH) supports Conflux's role in cross-border trade and the Belt and Road Initiative.

5. Technical analysis shows a parabolic breakout, with key support levels at $0.213, $0.191, and $0.173, and strong buying interest indicated by derivatives data.