The Conflux 3.0 upgrade, scheduled for release on August 31st, promises to unlock parallel processing capabilities and increase transaction throughput to 15,000 per second.
Along with AI-driven capabilities, cross-border trade tools and real-world asset tokenization, the upgrade sparked optimism. It also includes a partnership with Anchorx, launching a pegged Stablecoin on Offshore Yuan. Major exchanges, including Binance, favor hard forks and are positioned to significantly grow Conflux (CFX).
summary
- Conflux Price forms a cup and handle pattern on your daily chart.
- It also forms a calm wedge and refers to strong gatherings.
- The network will launch Conflux 3.0 on August 31st.
Conflux ‘Tree-graph’ Upgrade is imminent
The Conflux Token jumped over 200% from its July lowest point. This rebound coincided with the performance of most altcoins as Bitcoin (BTC) jumped to record highs.
It also rotated after the developer announced the coming Conflux 3.0 upgrade. This will introduce more features to your network.
Known as the “tree graph” upgrade, parallel processing capabilities are introduced, increasing throughput to 15,000 transactions per second, surpassing other top chains such as Ethereum and Tron.
Conflux 3.0 also introduces new artificial intelligence capabilities to take advantage of the ongoing hype. The AI industry has seen significant growth recently, with AI tokens tracked by Coingecko and boasting a market capitalization of over $28 billion.
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The upgrade also introduces tools that allow cross-border trade and real-world asset tokenization. One of the top elements is our partnership with Anchorx. Anchorx introduces Axcnh with Stablecoin pinned 1:1 to offshore euan.
The Conflux 3.0 upgrade and hard fork will take place on August 31st and will be supported by top replacements such as Binance.
Conflux pricing technical analysis refers to rebound
CFX Price Chart | Source: crypto.news
The daily time frame chart shows that CFX prices have been pulled back and entered the bear market. In terms of positive terms, it always exceeds the 50- and 100-day moving averages, providing substantial support.
The coin also formed a descending wedge pattern. It consists of two converging trend lines that are descending. In particular, this wedge formed after the coin discovered substantial resistance at $0.2730, forming the top surface of the cup and handle pattern.
So the drop is probably part of the handle section. The cup is about 72% deep. If you measure the same distance from the top of the cup, you will eventually see a final surge of $0.488. This is 157% above the current level.
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