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A new blockchain in town is making waves – Conflux (CFX). This layer-one blockchain has been climbing the ranks and has quickly become one of the year's biggest gainers.

Conflux (CFX), the native cryptocurrency of the Conflux network, has recorded a tremendous increase in the last seven days, surging

It appears the China hype has pushed some local altcoins to unseen heights, including Conflux.

While China shows signs of becoming more accepting of cryptocurrency trade, Conflux (CFX) is also quickly becoming one of the crypto assets that is expected to be one of the best performers in 2023. By June 1, 2023, Hong Kong is expected to make the buying, selling, and trading of cryptocurrencies legal for all of its citizens, according to reports.

Following the announcement by the network the previous week that it will be collaborating with China Telecom to launch Blockchain SIM (BSIM) cards, the price of Conflux (CFX) has skyrocketed to new heights.

The Conflux coin price has been rising for six consecutive days and registered a 500% growth. This perpendicular rally has breached multiple resistance and has pushed the altcoin price to its current level of $0.311.

Social media metrics show strong retail investor sentiment behind the ongoing CFX price rally.

Conflux Network (CFX) recorded a 73.65% increase in the last 24 hours, according to CryptoSlate data.

China's supposed MATIC competitor, Conflux (CFX), is among the top-performing altcoins today as it is up 68.77% to $0.2877. Known for its extreme volatility, Conflux is now up 455.95% over the trailing seven-day period, marking its bid as the best-performing altcoin within that time frame.

Despite a price increase of more than 300% in the previous seven days, the rally of this altcoin does not seem to be over yet.

Conflux, a first-layer consensus blockchain, touts itself as the only “regulatory compliant, public, and permissionless blockchain in China.” The project's CFX token was the best-performing token for the week ending Feb. 20.

The price of Conflux (CFX) is flying high after the network announced last week that it is joining forces with China Telecom to roll out Blockchain SIM (BSIM) cards. At the time of writing, CFX has ballooned to a commanding 310% in the last seven days, data from Coingecko shows.

According to Coinmarketcap, Conflux (CFX) surged its price up 102.88% in a week and is currently showing a unique bullish sign.  Related Reading: How Binance Moved $400 Million To CZ Owned Trading Firm CFX is the native cryptocurrency of the Conflux network that was created by renowned Chinese computer scientist Dr. Andrew Chi-Chih Yao in 2018.

Conflux network token CFX has seen its price rise by more than 150% in less than two days, following news of a partnership with China Telecom to issue blockchain-based SIM cards. Thus, the Conflux network has once again lived up to the name "China's Polygon (MATIC)," which is renowned for its partnerships with major corporations.

Conflux Network (CFX) surged 134% in the last 24 hours to $0.14460 at the time of writing, according to CryptoSlate's data.

A little-known altcoin is skyrocketing after inking a massive partnership deal with a Chinese telecommunications giant. In a new video update, the development team behind Conflux Network (CFX), thought to be the only regulatory-compliant blockchain in China, is announcing a new partnership with China Telecom, one of the largest wireless carriers in the country.

Conflux's native $CFX has posted an over 44% gain following the positive news with China Telecom.

According to Conflux, the BSIM will have a secure place to store digital private keys and will support transfer and exchange of NFTs.

China's second-largest telecom provider will pilot blockchain-enabled SIM cards later this year in Hong Kong, developed with Conflux Network.

Toronto, Canada, 15th February, 2023, Chainwire Today China Telecom and Conflux Network announce a partnership to bring Blockchain SIM cards (BSIM) to market. The entry-level Web3 product will be the largest blockchain hardware product ever seen globally, involving the most users and applications. China Telecom will launch the first BSIM pilot program in Hong Kong later this year.

The price of Conflux (CFX/USD) is soaring after Conflux Network today announced a partnership with China Telecom (NYSE: CHA) to introduce Blockchain SIM (BSIM) cards. The product intends to loop in most web3 users and applications.

Learn more about Consensus 2023, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Toronto, Canada, 15th February, 2023, Chainwire Today China Telecom and Conflux Network announce a partnership to bring Blockchain SIM cards (BSIM) to market.

The proposal to burn CFX was put forward by the chief technology officer of Conflux Network (CFX). In pursuit of improving the tokenomics of the Chinese blockchain, Ming Wu proposed burning a portion of CFX, which is storage collateral.