JAKARTA - The Conflux Network (CFX), a blockchain protocol aimed at providing high scalability and strong security in the development of blockchain applications, experienced significant price increases over a relatively short period of time.
According to data from CryptoSlate, CFX recorded an increase of 73.65 percent in the last 24 hours. At the time of writing, the CFX token is trading around IDR 5,113 per token. This marks a 483.49 percent increase in the last seven days and a 926.41 percent spike over the previous 30 days. However, CFX is still 69 percent lower than the all-time high (ATH) at 0.97 US dollars per token, which was recorded on May 12, 2021.
The increase in CFX prices came after the Conflux team signed two important partnerships since the beginning of the year. At the end of January, the Conflux protocol was successfully integrated with a Chinese application called Little Red Book. This integration allows Little Red Book users to print NFT (Non-Fungible Tokens). In response to this, the CFX token responded by surging 60 percent in one day.
On February 15, the Conflux team signed a second-largest partnership with China's second-largest wireless carrier, China Telecom. Both announced that they were joining forces to develop Blockchain (BSIM)-capable SIM cards. This news immediately caught market attention and made CFX prices increase significantly, noting a 134 percent jump in 24 hours.
Even so, price fluctuations in the crypto market can be very volatile and difficult to predict. Investment in crypto assets involves high risks, so it is necessary to conduct careful research and consult with financial experts before making investment decisions.
Overall, the increase in CFX prices and the partnership signed by the Conflux team show that CFX is increasingly known and adopted by the market. Not only presents solutions for scalability and security in the blockchain industry, but also shows the potential to be used in various applications and industrial sectors.
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