CFX (Conflux) fell 4.55% in the last 24 hours.

Gate News Bot message, on October 21, according to CoinMarketCap, as of the time of writing, CFX (Conflux) is currently priced at $0.11, down 4.55% in the last 24 hours, with a high of $0.12 and a low of $0.10. The current market capitalization is approximately $562 million.

Conflux is a high-throughput public blockchain system that employs an innovative Tree-Graph consensus algorithm to reduce confirmation times and increase TPS by processing blocks and transactions in parallel. Conflux utilizes a highly tested PoW consensus, providing higher security and protection against reentrancy attacks at the protocol level. Its built-in staking feature lays the foundation for innovative DeFi applications, with the current annualized yield for staked tokens being 4%. The token economics 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 Conflux launches stablecoin plan and upgrade scheme On July 21, the Conflux network announced its stablecoin plan and upgrade scheme, which drove the CFX price to double in the short term. The plan aims to enhance the liquidity and stability of the Conflux ecosystem, with the potential to attract more users and developers to the network.

2️⃣ Staking Yield Remains Stable The annualized yield of the staking token on the Conflux network is currently maintained at 4%, providing a continuous incentive for long-term investors. Stable staking returns help to maintain network security and user participation.

3️⃣ Technical innovation continues to advance Conflux continues to emphasize its Tree-Graph consensus algorithm and high throughput characteristics, which provide it with a unique position in the competition of public chains. The network's parallel processing capabilities and low confirmation times create favorable conditions for the development of DeFi and other complex applications.

From a technical perspective, the CFX price has shown a volatile trend recently, with the current trading price oscillating between $0.10 and $0.12. In the short term, investors should closely monitor the implementation of the technical upgrades of the Conflux network and their actual impact on the ecosystem.

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