China's only public blockchain Conflux sees CFX price skyrocket 1300% in 2023
Social media metrics show strong retail investor sentiment behind the ongoing CFX price rally. Conflux Network (CFX) is up nearly 500% in the past week with CFX emerging as one of the best-performing crypto assets in 2023 as China appears to be warming to cryptocurrency trading. What is Conflux Network? Interestingly, Conflux Network, also known as Shanghai Tree-Graph Blockchain Research Institute, is the only regulatory-compliant, public and permissionless blockchain in China. Conflux is a layer-1 blockchain operating on a hybrid proof-of-work and proof-of-stake mechanism. CFX's price has rallied nearly 1,335% year-to-date (YTD) to reach $0.3254 as of Feb. 24, its highest level in fourteen months. In comparison, the combined market capitalization of crypto assets has surged approximately 45% YTD. CFX/USD daily price chart. Source: TradingView Why is Conflux Network price rallying? Strong fundamentals have primarily driven the CFX price higher in 2023. For instance, the CFX ...