Conflux (CFX) Rallies Over 100% on Stablecoin Launch and Major Network Upgrade Plans
Conflux’s native token CFX has more than doubled in value over the past 24 hours, climbing to $0.24 — its highest level since December — amid growing investor enthusiasm sparked by two major developments unveiled in Shanghai this past weekend.
The surge follows the announcement of a new offshore yuan-pegged stablecoin, being developed in partnership with AnchorX and Eastcompeace Technology, as well as plans for Conflux 3.0, a significant protocol upgrade aimed at boosting the network’s performance and real-world utility.
The stablecoin is specifically designed for cross-border transactions within China’s Belt and Road Initiative (BRI), positioning Conflux as a strategic blockchain infrastructure layer aligned with Beijing’s global trade ambitions. The news was also picked up by Chinese state media, lending additional legitimacy to the project and fueling a spike in trading activity.
CFX’s daily trading volume soared past $1.7 billion, a massive increase from less than $60 million just two days prior. The token’s market capitalization has now exceeded $1.09 billion, pushing it back into the top 120 cryptocurrencies by valuation.
Scheduled for launch in August, Conflux 3.0 promises throughput of up to 15,000 transactions per second (TPS) and features designed to support real-world asset (RWA) tokenization and large-scale cross-border settlements. These upgrades are expected to significantly improve the chain’s scalability and appeal to institutional users.
Dubbed by some as the “Chinese Ethereum,” Conflux has previously rallied on headlines related to its partnerships with China Telecom (on blockchain-enabled SIM cards), McDonald’s China, and the Shanghai government for Web3 and metaverse pilots.
With strong ties to China’s tech ecosystem and increasing alignment with government initiatives, Conflux is once again capturing market attention as a compliant, high-throughput blockchain tailored for real-world applications.
