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CFX Embrace the Future of Finance: Invest in Crypto Today 💰**Short Fundamental Analysis of Conflux (CFX)** **Overview** Conflux is a public blockchain protocol that aims to provide a scalable, secure, and decentralized platform for smart contracts and decentralized applications (DApps). The protocol utilizes a unique Tree-Graph consensus mechanism that combines elements of both Proof-of-Work (PoW) and Proof-of-Stake (PoS) to achieve high throughput and energy efficiency. Conflux is also compatible with the Ethereum Virtual Machine (EVM), allowing developers to easily deploy their DApps on the platform. **Fundamentals** * **Scalability:** Conflux's Tree-Graph consensus mechanism allows for significantly higher transaction throughput than other blockchains, potentially enabling millions of transactions per second. * **Security:** Conflux employs a combination of cryptographic techniques and consensus protocols to ensure the security of its network. * **Decentralization:** Conflux utilizes a decentralized network of nodes to maintain its blockchain, ensuring that no single entity has control over the network. * **Efficiency:** Conflux's innovative consensus mechanism consumes significantly less energy than other blockchains, making it more environmentally friendly. **Recent News** * **Conflux Integrates Chainlink Oracles:** Conflux has integrated Chainlink oracles to enable decentralized price feeds and data feeds on the platform. This integration will be crucial for the development of DeFi applications on Conflux. * **Conflux Launches CFX Staking Rewards:** Conflux has launched a staking program that rewards CFX token holders for participating in the network's consensus mechanism. This program will increase the demand for CFX tokens and potentially drive up their price. * **Conflux Partners with dYdX:** Conflux has partnered with dYdX, a popular decentralized exchange, to provide liquidity for dYdX's USDC-ETH perpetual swap. This partnership will bring more users to Conflux and increase the demand for CFX tokens. **Disclaimer** Please note that cryptocurrency markets are highly volatile and unpredictable. Past performance is not necessarily indicative of future results. Invest only what you can afford to lose. **Conclusion** Conflux is a promising blockchain protocol with the potential to address some of the scalability and efficiency issues that plague other blockchains. The integration of Chainlink oracles, the launch of CFX staking rewards, and the partnership with dYdX are all positive signs for the future of Conflux. However, it is still too early to say whether Conflux will be able to achieve its full potential. Investors should carefully consider the risks involved before investing in CFX.
Long
by MoonTradingForecast
CFX Ready For Serious Correction?Looking at the daily on CFX we can see a major sign of weakness that MAY be signaling we are ready for a much larger move to the down side. After an insane 2000% push to the up side we seen a 50% retrace of that entire move and have since pushed up exactly 50% of the way to the top of the mega rally. This is a 50% retrace that has put in a lower high, had a clear identifiable trend that was broken, and is now being retested. IF we are head down much farther the next bearish signal will likely kick the move off. IF we see a bearish rejection at .20 target will be a 75% retrace of the 2000% pump in the .5-.6c area. Current Trading Plan is to short the bearish rejection of .20 and cover at bullish signals at 1/8 increments to the target area. A brake of the high Look for higher prices. Trade Well....
Short
by Degen-Dynasty
8
CFX Jumps 14%, Can It Continue to Rise?BINANCE:CFXUSDT has been in a consolidation channel between $0.1655 and $0.2190 over the past few weeks. Following its 24-hour gain, the altcoin seems to be on track to retest the upper boundary of this range in the coming couple of days. Should CFX close a daily candle above $0.2190 within the next week, it may have the foundation needed to continue rising to $0.2790 in the short term. This bullish thesis could be invalidated if the Conflux price is rejected by the $0.2190. This could lead to a correction for the altcoin back down to the $0.1655 support level. If sellers decide to exert additional pressure on CFX when it reaches this point, it could be at risk of dropping down to $0.1400 in the following few days. Bullish Technical Flags About to Be Triggered Technical indicators suggested that the Conflux price may continue to rise in the coming 48 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators were flagging bullish. The MACD suggested that CFX’s positive trend may continue as the MACD line was rising towards the MACD Signal line. In addition to this, the slope of the MACD Histogram was positive. Should the MACD line cross above the MACD Signal line soon, it will trigger a noteworthy bullish technical flag. This potential intersection of the two technical indicators will most likely be seen as a confirmation of the positive trend continuing. In addition to this, buyers were in the process of growing stronger against sellers. This was evident by the RSI, which was looking to break above its Simple Moving Average (SMA) line. A cross between these two lines will mean that it will be easier for bulls to drive the Conflux price higher than it will be for sellers to drag it down in the next few days.
Long
by StevenWalgenbach