Conflux (CFX) is having a big day, climbing over 50% and taking the top spot among the 100 biggest cryptocurrencies. At writing, CFX price is trading around $0.2187, and trading volume has surged by more than 390%. A mix of news, on-chain activity, and strong chart setups seem to be fueling the rally.
One of the main reasons behind the move is a new RMB stablecoin pilot tied to Conflux. Analyst Stacy Muur pointed out that the pilot was announced at an event in Shanghai, where AnchorX and China Telecom revealed the initiative.
It ties into China’s broader Belt and Road ambitions for cross-border payments, and because Conflux is one of the few blockchain projects with government ties, the market is paying attention.
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There’s also growing excitement around the upcoming Conflux 3.0 upgrade, set to roll out on July 30. Developer activity on the network has jumped by 22% this month, showing that things are moving forward. Between the ecosystem upgrade and the stablecoin announcement, CFX is catching a lot of momentum, and traders are jumping in.
🟢 Daily Top Crypto Gainer – July 21@Conflux_Network $CFX | +42.7% (24h) | $0.2143
— Stacy Muur (@stacy_muur) July 21, 2025
Why It’s Pumping:
CFX exploded on China-backed RMB stablecoin news, upgrade hype, and a brutal short squeeze.
Key Drivers:
• RMB Pilot: Announced at Shanghai event with AnchorX and China… pic.twitter.com/Ne6o0pb0xE
What you'll learn 👉
Short Squeeze and Supply Reduction Accelerate Conflux Price Movement
Another major factor has been a rapid short squeeze in the derivatives market. Data shows $11 million in short positions were liquidated, while open interest climbed by 140%. This forced exit of short trades likely added momentum to the upward move.
Tokenomics data also shows a reduction in supply, with 76 million tokens burned and 500 million staked since May. This represents approximately 11% of the total token supply, contributing to a supply crunch and increased scarcity in active circulation.
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CFX Price Technical Levels and Analyst Commentary
Chart analysis from Crypto Tony suggests that $0.25 is a key level for CFX. He noted that a reclaim of $0.25 would serve as a safer entry point for traders seeking confirmation of the breakout.
This zone coincides with a historical resistance level from late 2023. A weekly close above it may establish new support and open the path toward the next key zone between $0.30 and $0.35.
Additional insights from WorldOfCharts1 support the current trend. A chart shared on X shows CFX price breaking out of a long-term descending channel that began in mid-2023.
The breakout came after surpassing resistance between $0.11 and $0.13, leading to a 121.60% rally within 24 hours. The analyst points to a potential continuation pattern forming, with a possible retest of support before another leg higher.
Conflux Market Structure and Short-Term Outlook
The weekly chart shows that CFX price has shifted out of a bearish trend that had persisted since early 2024. The strong bullish candle cut through many resistance levels and reversed the pattern from lower highs and lower lows to a higher-high configuration.
Near-term price movement at the $0.25 level will determine whether the rally continues or enters into a period of correction.
Though technical readings such as the RSI have now shown the asset to be overbought, market structure remains bullish if CFX remains above the $0.18–$0.20 level of support. Should the current resistance be broken, the subsequent area of upside is seen around $0.35–$0.38.
As of now, Conflux price is trading with strong momentum, driven by a combination of network developments, macro narrative shifts, and technical breakouts.
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