July 21, 2025 — The price of Conflux’s native token, CFX, has surged by over 100% in the past week, fueled by a wave of investor optimism following two major announcements that signal a bold new direction for the China-based blockchain network often referred to as the “Chinese Ethereum.”
The rally comes on the heels of Conflux Network’s Shanghai event, where the team revealed plans for a new yuan-pegged stablecoin and a highly anticipated Conflux 3.0 mainnet upgrade.
Stablecoin to Bridge China and Global Markets
One of the biggest revelations was the launch of AxCNH, a stablecoin pegged 1:1 to the offshore Chinese yuan (CNH). Developed in partnership with AnchorX and Eastcompeace Technology, the AxCNH stablecoin aims to facilitate cross-border payments, particularly in regions aligned with China’s Belt and Road Initiative such as Southeast Asia, Central Asia, and parts of the Middle East.
The move is seen as a strategic step in positioning Conflux as a leading blockchain solution for international financial infrastructure with Chinese backing.
Mainnet 3.0: Speed, AI, and Real-World Assets
The second major catalyst was the announcement of Conflux 3.0, a significant upgrade to its blockchain architecture. Slated for release in August, the new version promises:
- Parallel block processing
- Up to 15,000 transactions per second (TPS)
- AI agent compatibility
- Enhanced support for tokenized real-world assets
- Optimized cross-chain and cross-border financial settlements
These updates aim to make Conflux more competitive with top-tier Layer 1 platforms and better equipped for enterprise and government adoption.
Market Reaction: Volume and Volatility Spike
Following the announcements, CFX’s price rocketed from around $0.11 to over $0.24, more than doubling within days. Trading volume also exploded, with daily volumes surpassing $1.7 billion USD, while futures open interest jumped by over 100%.
This explosive movement triggered a significant short squeeze, liquidating millions in bearish positions and accelerating the upward momentum.
What Comes Next for CFX?
Despite signs that the token is now technically overbought, analysts suggest the rally could continue if the upcoming mainnet upgrade delivers on its promises. Key resistance levels lie near $0.28 and $0.33, while strong support is expected around $0.19 and $0.15 in the event of a correction.
With China’s growing influence in the blockchain space and Conflux’s alignment with regulatory and technological trends, CFX could remain a project to watch in the second half of 2025.
