Conflux has experienced a remarkable price surge, catapulting from $0.02 at the beginning of January to a yearly high of $0.48 in March 2023, solidifying its position as one of the standout performers among altcoins this year.
Despite a current price adjustment to $0.17, analysts anticipate a potential increase to $2 or even higher by 2024. Concurrently, Conflux’s Total Value Locked (TVL) has exhibited substantial growth, climbing from $4.45 million to $23.40 million over the past eleven months.
In the past 24h, the spot trading volume of CFX in South Korean exchange Bithumb reached $29 million, surpassing Binance and accounting for 34% of the total. At 22:00 UTC+8 on 15th, Bithumb CFX once rose to 700KRW ($0.54), more than 150% from other CEXs, and then fell.…
— Wu Blockchain (@WuBlockchain) December 16, 2023
The spot trading volume of CFX on the South Korean exchange Bithumb has notably surpassed $29 million in the last 24 hours, representing a significant 34% of the total volume and surpassing even Binance in this aspect.
An intriguing point of note is that CFX on Bithumb experienced a surge to 700KRW ($0.54) at 22:00 UTC+8, marking an impressive lead of over 150% compared to other Centralized Exchanges (CEXs), although this surge was short-lived.
Notable Hashrate Increase To Watch
Additionally, the Conflux network’s hashrate has witnessed a noteworthy increase, rising from a low below 5TH/s to its current standing at 8TH/s, steadily approaching the 10TH/s milestone.
👀 @Conflux_Network hashrate just had a dramatic increase. Is this a clue to an upcoming announcement or pump? Something similar happened around Feb 14th when the China Telcom sim card deal was unveiled. Does anyone know something? $CFX pic.twitter.com/oCHU5AavMD
— MineSum10 (@MineSum10) December 16, 2023
The overall dynamics of Conflux, from its substantial price surge and TVL growth to the remarkable spot trading volume on Bithumb and the network’s hashrate increase, collectively indicate a robust performance. Also, a growing prominence within the cryptocurrency space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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