The cost of CFX, the native token of China’s Conflux blockchain, increased 10% today during trading on the cryptocurrency market. One of the findings of this year’s little bull surge was the token. CFX has even earned the moniker “Chinese MATIC” because to the abundance of significant collaborations in its own nation. The price of the Conflux token has increased by 1.300% to current levels from the start of 2023 and by almost 2.000% at its high in mid-March.
It is fair to ascribe today’s CFX outperformance to two distinct causes. The first and most significant one is Conflux and China Telecom’s declaration of the beginning of a collaborative project. The blockchain-based SIM (BSIM) card project, which was first announced in February, has now successfully launched. The BSIM card, which was unveiled at a Shanghai event, will now go through pilot testing in Hong Kong before being made available on the mainland and in foreign markets.
The second factor is less important in terms of current events, but it directly impacts the Conflux token. It concerns CFX’s listing on Bithumb, one of South Korea’s biggest exchanges. The Conflux token has already made Bithumb the fifth-largest market, while CFX, which was just launched a short while ago and has a value of $4.11 million, has moved up to fourth place in terms of trading volume on the exchange.
It is an opportunity for Korean investors to trade one of this season’s most intriguing tokens, in addition to being a fresh listing for CFX in an unexplored market.
