- Demand for blockchains and tokens with ties to China has led to a surge in volume.
- This year, CFX prices have risen by over 1500% on the back of rising demand in China.
Binance, the biggest cryptocurrency exchange in the world, said on Thursday that it has integrated the Conflux Network (CFX) mainnet. Conflux Network (CFX) listing in March 2021 was announced, however, trading was limited to BEP20 CFX tokens.
Binance has finished integrating the Conflux Network (CFX) mainnet, the exchange said formally on May 11. Without having to first convert them to BEP20 CFX tokens, CFX tokens may now be traded on the market. CFX tokens may be deposited and withdrawn from Binance via BNB Smart Chain (BEP20), Conflux eSpace, or the Conflux Core Space.
Massive Demand and Gains
Demand for blockchains and tokens with ties to China has led to a surge in volume for Conflux. Conflux uses the Tree-Graph consensus technique to improve throughput and scalability, making it the only blockchain in China that complies with local regulations. This year, CFX prices have risen by over 1500% on the back of rising demand in China and the AI hype.
Conflux Network has formed partnerships with China Telecom for blockchain products, connected with Little Red Book (the Chinese equivalent of Instagram), and deployed Uniswap V3, which has created liquidity pools for the CFX/USDT and CFX/BTC pairs.
The price of CFX has dropped by 40% during the last month as investors took gains, but it is still trading at a premium to where it began its ascent. In the next few days, prices might rise due to Binance’s backing.
According to CMC, the price of CFX is $0.2483 and it is down 5.59% in the last 24 hours. In addition, the volume of trades has picked up marginally during the last day, up by 19.37%.
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