Conflux's CFX Rallies on China Buzz, but Analysts Believe Fundamentals Still Lag скачать в хорошем качестве

Conflux's CFX Rallies on China Buzz, but Analysts Believe Fundamentals Still Lag

Despite bullish headlines and China ties, Conflux’s on-chain metrics remain weak even as insiders say Beijing might be warming up to some forms of digital assets. Conflux's CFX emerged as the winner during weekend trading, gaining around 14%, according to CoinDesk market data, and surpassing the broader CoinDesk 20 index, which rose by 4%. However, behind the scenes, there's something missing: an uptick in on-chain activity. Conflux has positioned itself as being China's Ethereum, with a regulatory-compliant digital ledger, that doesn't have a token, available within mainland China. Analysts speaking to CoinDesk in the past have called it a "one country, two systems" protocol, with its ability to straddle both the global crypto markets with a token and act as a digital ledger within mainland China, partnering with domestic web giants like China's version of Instagram. Given that insiders say that Beijing is warming to the idea of stablecoins to counter U.S. dollar hegemony, and Conflux is prepping an offshore-yuan stablecoin, the market euphoria is certainly justified. In the last 30 days, CFX is up over 190%. All of this isn't really reflected on-chain. Aside from occasional spikes, transaction activity hasn't grown in the last year, per data from network block explorers. In fact, it's still down from 2022 daily averages. Other on-chain data shows that nearly 80% of the total gas spent in the protocol comes from three accounts, creating a concerning level of centralization. In contrast, with Ethereum, the largest gas spender accounts for less than 10% of total gas spent on the network. There certainly is a growing China narrative at the moment. Any sort of rumor that mainland China has banned crypto outright is demonstrably false. Hong Kong's embrace of crypto mirrors how equity markets in Shanghai learned from their counterparts in the city before opening mainland China's stock markets in the 1990s. However, the question remains: Is Conflux the best proxy for this narrative? On-chain data would suggest otherwise. Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC. https://www.coindesk.com/markets/2025... #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple