CFX (Conflux) 24-hour pump 0.73%

Gate News Bot news, on November 20, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at $0.09, having risen 0.73% in the last 24 hours, with a high of $0.09 and a low of $0.08. The current market capitalization is approximately $468 million, an increase of $3.39 million compared to yesterday. CFX ranks 104th in the Crypto Assets market.

Important news about CFX recently:

1️⃣ Conflux Network launches a new stablecoin Conflux Network successfully launched two stablecoins, USDT0 and CNHT0, marking significant progress in its ecosystem in the stablecoin sector. This initiative provides users with more options for trading and value storage, potentially enhancing the platform's liquidity and use cases.

2️⃣ CNH₮0 achieves cross-chain value flow CNH₮0, as the full-chain deployment version of Tether's offshore Renminbi (CNH₮), adopts the LayerZero OFT standard. This innovation allows the value backed by the offshore Renminbi to achieve native flow across different blockchains without the need for wrapped tokens or fragmented liquidity, greatly enhancing the efficiency of cross-chain interactions.

3️⃣ CFX price fluctuations are significant in the short term Due to the launch of the new stablecoin, the price of CFX experienced significant fluctuations. At one point, CFX briefly broke through 0.14 USDT, with a 24-hour pump reaching 42.65%. This price volatility reflects the market's positive response to Conflux's new features, while also indicating a high level of speculation.

From a technical perspective, the price of CFX fluctuates between $0.09 and $0.14, demonstrating significant price elasticity. Fundamentally, Conflux has enhanced the functionality and appeal of its ecosystem by introducing new stablecoin products, which may have a positive impact on long-term development. However, investors should be aware that in the short term, prices may continue to fluctuate due to the influence of new features.

This message is not intended as investment advice; investors should be aware of the risks of market volatility.