CFX (Conflux) has fallen 1.82% in the last 24 hours.

Gate News Bot news, on September 24, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at $0.15, falling by 1.82% within 24 hours, with a highest point of $0.19 and a lowest point of $0.14. The current market capitalization is approximately $745 million, a decrease of about $13.833 million compared to yesterday.

Conflux is a high-throughput public chain that achieves parallel processing of blocks and transactions through its groundbreaking Tree-Graph consensus algorithm, thereby reducing confirmation times and increasing TPS. Conflux employs a thoroughly tested PoW consensus mechanism, providing higher security and protection against re-entrancy attacks at the protocol level. Its built-in staking mechanism provides a foundation for innovative DeFi applications, with the annualized yield of staked tokens currently at 4%. The tokenomics of Conflux is built around the $CFX token, which holders can use to pay transaction fees, earn rewards through staking, rent storage space, and participate in network governance.

Important news about CFX recently:

1️⃣ Market sentiment continues to be sluggish The CFX price has continued to fall over the past 48 hours, dropping from $0.18 to $0.15, with a cumulative decline of nearly 12%. This ongoing downward trend reflects that market sentiment remains sluggish, and investor confidence has yet to recover.

2️⃣ Price support level is being tested The CFX price has currently fallen below the previous support level of $0.17, facing severe technical challenges. If it cannot regain this key level in the short term, it may trigger further selling pressure.

3️⃣ Market capitalization volatility is significant The market capitalization of CFX has experienced significant fluctuations in a short period. The latest data shows that the market capitalization is approximately $745 million, which has recovered compared to the previous day, but is still lower than the level a week ago. This instability in market capitalization may affect investors' judgment on the long-term development prospects of the project.

From a fundamental perspective, despite the innovative technical features and built-in staking functions of the Conflux network, these advantages seem to have failed to effectively support the token price in the current market environment. The project team may need to strengthen market communication and ecological development to regain investor confidence.

This message is not an investment advice, and investors should be aware of market volatility risks.