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Key Points: DWF Labs, a Web3 venture capital organization, has announced that it recently purchased the CFX token of Conflux, an $18 million public chain project, cementing a long-term partnership. DWF Labs, a global digital asset market maker, and multi-stage Web3 investment firm, has further strengthened its commitment to support Conflux's growth.
Conflux (CFX) has recently captured the attention of the cryptocurrency market with its impressive growth. In just one week, Conflux has experienced a remarkable surge, placing CFX among the top-performing altcoins of the moment and positions it as a legit investment opportunity for crypto enthusiasts and traders alike.
The cryptocurrency market is experiencing an interesting resurgence, with various assets showing modest gains in recent hours.
China's MATIC, Conflux (CFX), is among the most promising altcoins in the digital currency ecosystem considering its price outlook. The digital currency is changing hands at a spot price of $0.251, up by 21% over the past 24 hours as it duly capitalized on the growth momentum of the broader crypto ecosystem.
The crypto market is currently on a rebound, with several assets recording little gains in the last few hours. Conflux (CFX), one of the trendiest assets of 2023, has gained by 20.17% in the last 24 hours, emerging as the second biggest daily gainer, according to CoinMarketCap data.
Bitcoin price continued its recovery as sentiment in the crypto industry improved. The coin jumped to $29,000, much higher than last week's low of $24,700. Other cryptocurrencies have also surged, bringing the total market cap of all cryptocurrencies tracked by CoinMarketCap jump to over $1.13 trillion.
The market is currently experiencing a downturn fueled by an unsettling combination of FUD (fear, uncertainty, and doubt). Adding to this challenging situation is the recent lawsuit filed against Binance by the US Securities and Exchange Commission.
Cryptocurrency prices staged a strong recovery even as the Securities and Exchange Commission (SEC) continued its battle against digital coins. On Monday, the SEC launched a lawsuit against Binance and CZ, as we wrote here. And on Tuesday, it sued Coinbase, the biggest crypto company in the United States.
The Hong Kong SFC's announcement to allow trade in specific cryptocurrencies has triggered an uptick in crypto adoption among market participants. Amid this development traders also showed significant interest in Chinese-related crypto projects and are expected to witness a notable surge in the near future.
BeInCrypto looks at the five biggest altcoin losers in the entire crypto market this week, specifically from May 26 to June 3.
As June 1 draws closer and the Hong Kong and Chinese investors look forward to legally trading cryptocurrencies once more, the market has already turned bullish. So far, Chinese coins have led the pack when it comes to gains, so here are three of the most popular Chinese tokens likely to rally if the bullish trend continues.
As a precaution, Conflux has suspended Multichain's co-mint privilege in the face of the unavailability of some cross-chain routes to secure customer assets.
Tenet will collaborate with Conflux and Qtum, two blockchains with a strong presence in China, to strengthen the liquid staking industry's foothold in the country's marketplaces.
Mahe, Seychelles, May 24th, 2023, Chainwire Tenet, a layer-1 ecosystem for creating yield and utility for liquid staking derivatives (LSD), is expanding its presence on the Cmarket through two key partnerships with QTUM, a Proof of Stake network combining the benefits of Ethereum and Bitcoin, and Conflux, a layer-1 network operating on a hybrid Proof
The partnerships are aimed at increasing the liquid staking industry's presence in Chinese markets.
Hong Kong is set to introduce new regulations that will enable retail investors to participate in cryptocurrency trading, with licenses for virtual-asset platforms being issued starting from June 1. The move aims to restore Hong Kong's status as a leading financial center.
CFX tokens initially spiked in price after Hong Kong's decision on retail investors, which some say could lure capital from Chinese investors.
A partnership of Conflux Network with Biconomy explores a borderless economy. Biconomy is excited about its several Web3 projects collaboration.
Aside from CFX, KAVA and Render Token are the other double-digit gainers within the past 24 hours.
The market today sees Conflux (CFX), Kava (KAVA), Render Token (RNDR), NEO, Immutable X (IMX), and Synthetix (SNX) steering through the tumultuous tides as the top gainers, while Leo Token (LEO), Injective Protocol (INJ), Rocket Pool (RPL), Pax Gold (PAXG), USD Digital (USDD), and Frax Share (FXS) are charting through choppy waters as they face market declines.
Conflux (CFX), the token powering Conflux's high throughput, Tree-Graph powered layer-1 blockchain, experienced a rollercoaster ride in a whirlwind of price fluctuations. Last week, it tumbled to a low of $0.20 per token, leaving observers on edge.
The cryptocurrencies under review are the best performing cryptocurrencies.
In today's crypto market analysis, we spotlight the tokens making significant strides and those navigating through challenging waters. Today's victors include SingularityNET (AGIX), Kava (KAVA), Injective Protocol (INJ), XinFin Network (XDC), and Blockstack (STX).
In a landscape as vibrant and volatile as the crypto market, today's top performers comprise of Mask Network (MASK), Render Token (RNDR), Ripple (XRP), Injective Protocol (INJ), Conflux (CFX), and Nexo (NEXO). On the flip side, we see a few heavyweights and a couple of upstarts grappling with the market's downward pull, including Lido (LDO), Axie Infinity (AXS), Optimism (OP), Sui (SUI), Arbitrum (ARB), Immutable X (IMX), and Chainlink (LINK).
