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

Mon, 02/27/2023 - 09:57
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Godfrey Benjamin
Conflux is now key investor and partner of gaming protocol Galaxy Blitz
Conflux (CFX) up 241% on News of Massive Ecosystem Expansion: Details
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Conflux (CFX), regarded as China's MATIC, has continued its upward trend following the news of its consistent and major ecosystem growth. At the time of writing, the digital currency is trading at a price of $0.2339, up by 8.74% and 241% over the past month.

Conflux's price growth is a testament to how much the token is elastic to positive ecosystem updates. In one of the most recent news shared by the protocol, it has inked a partnership with Galaxy Blitz, a play-2-earn (P2E) strategy game. The Galaxy Blitz partnership is a showcase that the Conflux protocol is best adapted to different ecosystems.

Conflux was designed as a sustainable infrastructure for the global token economy. The protocol enables creators, communities and markets to connect across borders and protocols. It ranked as the first blockchain entity to ink a partnership with China's second-largest telecom service provider, China Telecom.

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This partnership has led to the creation of blockchain-based SIM cards that can be accessible to as many as 390 million of the company's customers. This series of events is a major contributory factor to the token's latest performance.

Is CFX upshoot sustainable?

For what it's worth, Conflux is not a meme coin whose growth is more or less comparable to a pump and dump scheme. However, CFX's growth over the past month has been very bullish in what many may term unsustainable growth.

For a digital currency that has been around since 2021 or earlier, the recent growth cannot be said to be spontaneous, as it is backed by quantifiable ecosystem milestones. From the growing partnerships to the recent burn mechanism proposal, Conflux has earned its mark as a protocol with future growth potential.

While prices are bound to correct, CFX is arguably a token to keep an eye on.

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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.