Why Is Conflux (CFX) Price Up Today?

Conflux price is having a big day, leading the crypto market with a 28% price jump to around $0.2439. Trading volume has also exploded, up over 128% in the past 24 hours, according to CoinMarketCap. The surge comes as momentum builds around stablecoin developments and Conflux’s expanding role in Asia’s blockchain scene.

Market watcher CFX3U helped highlight what’s fueling the hype on X. Conflux is pushing forward on three key fronts: tokenizing real-world assets, building payment tools through PayFi, and launching stablecoins like the offshore RMB and HKD

#CFX to the moon!!Conflux's three core strategies:1. RWA (green energy swap asset package has been sold out, reported by China Business News)2. Payfi3. Stablecoins (offshore RMB stablecoins, Hong Kong dollar stablecoins, signed with AxCNH, AxHKD issuers)

— CFX3U (@wngxshng145) July 29, 2025

These moves are catching more attention now that China has shifted its support from state-run CBDCs to regulated private stablecoins.

The biggest catalyst today is Conflux’s partnership with AnchorX and Eastcompeace Technology to launch AxCNH, an offshore yuan stablecoin. It fits perfectly with China’s updated policy direction and positions Conflux as a preferred network for blockchain-based cross-border payments.

According to The Defiant, Conflux could play a key role in settlement systems tied to the Belt and Road Initiative.

Pilot programs for AxCNH are kicking off on August 1 in Singapore and Malaysia, which adds even more fuel to the current bullish momentum around CFX.

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Conflux Derivatives Market Sees Spike in Activity

Derivatives data shows rising interest from traders. Open interest in CFX futures jumped 20.75% to reach $785.3 million, while liquidations totaled $11.5 million, favoring long positions

This suggests that the buyers are in control and market sentiment is skewed to additional upside.

Short squeezes and forced liquidations have likely spurred the breakout, pushing the CFX price over previous resistance at approximately $0.21–$0.22 with positive momentum.

Conflux Price Technical Setup Confirms Breakout Structure

On the 4H chart, CFX has broken out of a multi-day consolidation zone and is now in price discovery. The current structure shows a strong uptrend supported by higher lows and a steady ascending trendline. The most recent candle surged over 21% on high volume, clearing prior resistance.

Image Source: TradingView.com

Technical indicators show CFX price trading significantly above the 31-period EMA ($0.187), confirming bullish strength.

Nonetheless, RSI is 78.80, which points towards overbought levels. Traders are looking towards the $0.22–$0.20 levels as the pullback targets in the event of consolidation.

CFX price now faces psychological resistance near $0.26 and $0.30 if momentum continues.

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