Conflux's native token, CFX, surged 11% in the past 24 hours, becoming one of the top gainers of the day. Its daily trading volume exceeded $75 million, and its market capitalization approached $400 million. After breaking out of its consolidation range, the price briefly rose to around $0.08, but has since retreated.
Breaking through months of consolidation
Looking at the price action, CFX broke through a downtrend line that had been forming since July 2025 in early March of this year. Afterward, the price entered a period of sideways consolidation for more than two months.
The short-term range is roughly between $0.04709 and $0.06823. During this upward move, the price first broke through the upper limit of the range, then retraced to around $0.07 and found support, before rising again to around $0.08.
Stablecoins have seen significant growth in size.
In addition to the price breakout, Conflux's on-chain data has also improved recently. Over the past 18 days, the network's stablecoin market capitalization has risen from $2,008 to $5.24 million, a weekly increase of 18.61%, indicating increased on-chain liquidity.
App revenue also rose rapidly. On May 12, the figure was $23, and at the time of writing, it had risen to $138, nearly six times that of two days prior. Although the absolute size is still not high, the growth rate is fast.
Transactions and users are recovering in tandem.
Conflux's daily transaction volume has risen to its highest level since April. During this surge, the total number of transactions increased from 11,634 to 28,198, an increase of approximately 2.5 times. According to Confluxscan data, the number of new or returning users this month also increased from 29 to 118.
Overall, this surge wasn't solely driven by a short-term breakout; on-chain liquidity, trading activity, and user data also provided support. However, CFX has retreated after its rapid rise, and whether it can hold steady around $0.07 remains a key price level for the market to watch.
