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China's MATIC, Conflux (CFX), up 21%, Here Are Possible Reasons

Thu, 06/22/2023 - 13:49
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Godfrey Benjamin
Conflux has joined list of altcoins leading today's growth after soaring by 21%
China's MATIC, Conflux (CFX), up 21%, Here Are Possible Reasons
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China's MATIC, Conflux (CFX), is among the most promising altcoins in the digital currency ecosystem considering its price outlook. The digital currency is changing hands at a spot price of $0.251, up by 21% over the past 24 hours as it duly capitalized on the growth momentum of the broader crypto ecosystem.

While Conflux's growth appears to be in tandem with other promising altcoins, it showcases a difference in that it boasts of a very high-growth ecosystem to back its own price upshoot. Having traded at a monthly low of $0.1735 earlier this month, its ongoing momentum can be the result of the influence of the market as a whole.

The CFX upsurge is also a function of its ecosystem expansion. Recently, the blockchain network revealed it has inked a new partnership with dappOS, a member of the Binance Labs Inc program.

The dappOS protocol prides itself as the Web3.0 operating protocol unifier. While the partnership between both firms has many underlying mutual benefits for both, the most significant takeaway for Conflux holders is that the ecosystem is expanding, a trend that will largely bolster the utility of the protocol and CFX tokens in the long run.

Conflux (CFX) up 241% on News of Massive Ecosystem Expansion: Details

Conflux and hope for top 50

There are only a few altcoins with better price performance than Conflux this year. Despite its relatively young age, the digital currency is now ranked as the 53rd biggest cryptocurrency by market capitalization.

The growth strides of the token are notable, and it has accrued more than 1,030% growth in the year-to-date (YTD) period. There is now an expectation that Conflux will join the most elite of cryptocurrencies by ranking in the top 50.

Conflux has inked some of the most strategic partnerships in the crypto ecosystem thus far this year, an association that is projected to aid its growth on all fronts.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.