CFX (Conflux) fell 11.01% in the last 24 hours.

Gate News Bot news, August 15, according to CoinMarketCap data, as of the time of writing, CFX (Conflux) is currently priced at 0.18 USD, having fallen 11.01% in the last 24 hours, with a high of 0.23 USD and a low of 0.18 USD. The current market capitalization is approximately 911 million USD, a decrease of 113 million USD from yesterday.

Conflux is a high-throughput public chain that uses an innovative Tree-Graph consensus algorithm to reduce confirmation time and increase TPS by processing blocks and transactions in parallel. Conflux utilizes a well-tested PoW consensus mechanism to provide higher security and protection against reentrancy attacks at the protocol level. Its native token CFX is used for paying transaction fees, earning rewards through staking, renting storage space, and participating in network governance.

Important recent news about CFX:

1️⃣ Continuous price fall raises market concerns The CFX price has continued to fall over the past few days, dropping from $0.20 on August 12 to the current $0.18, a cumulative decline of over 10%. This ongoing downward trend has raised concerns in the market regarding CFX's short-term prospects, which may lead some investors to choose to wait and see or reduce their holdings.

2️⃣ Market capitalization shrinkage reflects a decline in investor confidence The market capitalization of CFX has dropped from 1.012 billion USD on August 12 to the current 911 million USD, evaporating approximately 100 million USD in three days. The significant shrinkage in market capitalization reflects a decline in investor confidence in the CFX project, which may further exacerbate selling pressure.

3️⃣ Price fluctuations indicate increased market uncertainty The price of CFX has experienced significant fluctuations over the past week, with daily price changes often exceeding 10%. This high volatility indicates a considerable divergence in market pricing for CFX, increasing trading risks in the short term.

From a technical perspective, the CFX price has fallen below the previous support level of $0.20 and is currently testing a new support level at $0.18. If this support level cannot be maintained, it may trigger further declines. Investors need to closely monitor the performance of the $0.18 support level and the reaction at the $0.20 resistance level to assess the market direction.

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