Conflux (CFX) Jumps 42% as a New Yuan-Backed Stablecoin Is Announced

• Conflux surges 42% amid yuan-backed stablecoin and Conflux 3.0 upgrade buzz
• Trading volume jumps 320%, signaling strong investor interest and breakout strength
• RSI and MACD confirm bullish momentum but warn of potential short-term correction

Conflux (CFX) has captured the market’s attention with a powerful surge of nearly 42% in the last 24 hours. This dramatic move is driven by two major catalysts: the announcement of a new yuan-backed stablecoin and growing excitement around the upcoming Conflux 3.0 network upgrade. 

This investor enthusiasm pushed the token to an intraday peak of $0.28 before it stabilized near $0.266. The bullish breakout is confirmed by technical indicators, which show rising momentum.

A 320% volume spike confirms CFX bullish breakout

The recent rally began at around $0.1873, which served as a firm intraday support level. From there, CFX entered a phase of mild consolidation before sharply breaking out. 

During the breakout, trading volume soared to $619.1 million, an increase of over 320% in just 24 hours. This spike suggests that the rally is not a fluke but rather driven by legitimate market interest and speculation surroundi…

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