Conflux Price Rebounds Strongly as Market Eyes September Upgrade
Conflux (CFX) surged over 14% in the past 24 hours, recovering sharply from recent volatility sparked by its upcoming v3.0 upgrade.
The blockchain’s market cap now stands at $1.1 billion, with trading activity hitting $453.7 million in just one day — a 151% jump from the previous session.
The rally follows a steep 10% drop on August 3, which came right after the upgrade announcement and led to $1.7 million in long liquidations. Interestingly, shortly after the sell-off, around $14.23 million worth of CFX was transferred to private wallets, hinting at renewed accumulation.
The v3.0 upgrade, set for release on September 1, is designed to boost Ethereum compatibility and refine Conflux’s proof-of-stake rules. Traders are framing the price action as a classic “sell the rumor, buy the news” scenario — with the recent dip serving as a buying opportunity.
From a technical perspective, CFX has broken above its $0.189 pivot point and the 30-day SMA of $0.14, with the RSI climbing to 59.5 after rebounding from oversold territory. The next key resistance is at $0.228, a level that could open the path toward July’s high of $0.27 if sustained buying continues.
While the token has already posted a staggering 199% gain over the past 90 days, the question now is whether the v3.0 upgrade will deliver enough real-world adoption and ecosystem expansion to keep momentum alive in the months ahead.
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Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
