Conflux Price Prediction: Is CFX a good investment?

The Overview of Conflux

Over the past couple of months, the global ranking of the Conflux token changed from #174 to #186. This can be attributed mainly due to the drop in price observed since the downtrend it observed back in April 2021. While it is no surprise that the cryptocurrency market always comes up with new projects to fill in the gaps of the market, which projects will be successful in the future is the question most investors speculate over. Today, we look at the Conflux token or CFX and understand its price history, what it aims to achieve, and what the token’s price prediction looks like. Let’s get started!

Conflux Overview

Cryptocurrency Conflux
Ticker Symbol CFX
Price $0.08269
Price Change 24h +3.94%
Price Change 7d +1.08%
Market cap $92,268,047
Circulating Supply 2,090,735,404 CFX
Trading Volume $4,519,308
All time high $1.70
All time low $0.07105
Conflux ROI No Data

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What is Conflux Network?

The Conflux Network is a decentralized blockchain network that is highly scalable, and it aims to have a high throughput and fast transaction confirmation speeds. This PoW network is Turing complete and runs with a smart contract language that is similar to Ethereum. Since the network processes parallel blocks in a Directed Acyclic Graph (DAG) structure, it can offer performance improvements, lowering the confirmation times and increasing the transaction throughput substantially.

Conflux Network allows nodes to generate consistent total order of blocks based on the ledger. The total order is obtained from a pivot by selecting the densest subtree to avoid the double-spend attack. And just like Ethereum, Conflux Network operates with an account-based model. It also supports a modified version of Solidity and Ethereum Virtual Machine for its smart contract. This means that the smart contracts from Ethereum can be easily mitigated to the Conflux Network. Internal research has shown that Conflux can process up to 4000 transactions per second for simple payment transactions, which are higher than both Bitcoin and Ethereum. At higher levels, Conflux Network achieves these results by implementing the novel GHAST or Greedy Heaviest Adaptive SubTree algorithm. It assigns a weight to each block. With this weight assignment, there is a deterministically heaviest or densest chain with the graph that corresponds to the relatively stable chain from genesis to the top of the parent tree.

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Why Use Conflux Network?

The Conflux Network offers several features that make it very convenient for usage. Some of these are listed below:

Higher Throughput

The tree graph consensus algorithm uses parallel processing of blocks, and this helps it gain significant improvements by increasing TPS and lowering confirmation time.

Security

By deploying a highly tested PoW consensus protocol, the Conflux Network provides increased security and protection against reentrance attacks at the base protocol level.

Interoperability

ShuttleFlow is a light and fast cross-chain asset bridge that operates on top of Conflux Network, enabling it to achieve seamless asset transfer among multiple protocols.

Lower fees

Conflux Network has a Fee Sponsorship program that allows users with zero balance in their wallet to still participate in the blockchain. Sponsors pay a portion or all of other users’ transaction fees to help them get on board.

Scalability

Conflux eliminates the consensus bottleneck of other blockchains without sacrificing security or decentralization. This helps the Conflux Network to achieve unmatched scalability efficiently.

Staking

The interest rates by built-in staking provide the project team room to grow and innovate the DeFi apps. Staked tokens receive an annualized rate of 4 percent currently, which is generated by the issuance of new additional tokens.

Conflux Network Roadmap

Conflux last updated its status in November 2021. It is clear that the project is thriving well, and the team is doing its best to ensure that the platform continues to improve as they focus on the marketing. In November, the Conflux Network continued PoS community testing and processed related community feedback. They have also optimized the node execution performance and the transaction pool implementation to fix mainnet issues. The company has also released new SDKs and added some documentation for the developers. On the partnerships side, Witnet has launched on Conflux mainnet and provided a price feed service for TriangleDAO. The company is also actively engaging its market by sponsoring NFT.NYC in New York City. Attended by over five thousand people, the Conflux logo was showcased on billboards in Times Square. It also co-hosted an in-person event during the NFT.NYC to engage more developers to join its platform.

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Overview of Conflux (CFX) Token

The token economy of the Conflux Network is built around the CFX token, a unit of value on the platform. This token plays a huge role as it allows token holders to pay transaction fees, earn rewards via staking, rent storage, and participate in network governance activities. Conflux CFX token also incentivizes and rewards miners, as they are integral to how secure the network remains in the long term.

The Conflux Network prides itself as it is open source, and this means that anyone can share modify it, ensuring that the software is free from bugs and can operate smoothly. It also includes developers in its bug-finding stages, where developers can share their opinions or any bugs that they find in the code with the project owners. The Conflux Network CFX project is also permissionless and facilitates the secure transfer of value assets quickly and efficiently with a minimal fee. The permissionless blockchain also enables it to dominate in decentralized economies by being transparent and using its staking features to benefit the token holders.

The use cases for the CFX token are network consensus, ecosystem incentivization, governance, and staking. The total supply of CFX tokens was 5 billion in March 2021.

Conflux Network Technical Analysis

The Conflux Network price today is $0.1775. The Conflux CFX price trended upwards nicely in the first quarter of last year, but it lost all of that price rise in the second quarter without any significant sideways period of price struggling to stay on top.

Conflux Price Prediction

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As can be seen in the above CFX price chart, the token value started to rise from the beginning of 2021 till April 2021 in an uptrending fashion. To add to it, the Accumulation/Distribution indicator also began to show some spikes signaling that the traders were interested in CFX at that time. But ever since the second quarter of 2021, the Accumulation/Distribution indicator started to form a downtrend. To add to it, there was a huge spike in volume that lasted for a single day but didn’t sustain an increase in the price of Conflux CFX. Due to this, the distribution was significantly higher, which caused a downward spike in the Accumulation/Distribution indicator. To this day, there is no sign of accumulation in the Conflux Network cryptocurrency. The price of Conflux has lost too much of its value, making it a bad investment. CFX Price Prediction

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The Bollinger bands show that the Conflux CFX price caused an increase in volatility during its uptrend. During this time, the volatility continued to increase as the RSI created an overbought signal in January and February 2021. Near its consolidation base, the volatility finally dropped a little in March 2021 as the RSI continued to stay near the overbought level. One of the reasons why RSI is very useful in sideways trading is that it works very well with price volatility and correctly predicts the reversal of price levels. Though, the same is not applicable in trending markets because the price continues to go in one specific direction, due to which the reversal is delayed. And when the reversal does eventually happen, it is not clear whether the market is ripe for the RSI to be implemented.

Here, let’s take the first two quarters of 2021. The RSI couldn’t create good signals because, at these times, the Conflux CFX price market was in an uptrend, and later, in a downtrend. From the third quarter of 2021, the price of Conflux Network cryptocurrency is continuing in a sideways trend with no clear sense of direction. Usually, RSI should work in these scenarios. The fact that it isn’t working makes us believe that the interest in the market is so low that the CFX price forecast system is not driving the current price to where the speculators expect the minimum price to be. Due to these reasons, we view CFX crypto as not being trader-friendly for the short-term profit/good return for traders. This is further confirmed by the distribution being observed in the Conflux price chart prior to this. From our perspective, the CFX token should be thought of as an early investment opportunity for investors. But the entry point should be done at a higher price level, probably near the $0.2 level. This way, this investment opportunity will also show a clear sign of whether or not the Conflux price market is participating or is just a price fluctuation. Currently, the RSI is 72.43. There is no massive growth observed in the year 2022 as well. Though, a slight recovery is observed currently which may show positive trend in the short term.

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Conflux Network Price Prediction: 2022-2026

We have used technical analysis and historic price averages to Conflux price forecast for the next few years. Do note that the following values are derived using a prediction algorithm that relies on past data. These values or any model cannot predict the future value of any asset with 100 percent accuracy, so it should not be taken as investment advice or financial advice. Investors and traders should do their own research and understand the markets before entering any long or short positions or investing. If you are planning to invest in CFX crypto based on the predictions, it is a good idea to look at technical analysis and other forecasts as well. So you should be careful with your money and visit here to check all website data and price predictions before dumping your current investment and investing into CFX. With that said, the Conflux Network price predictions for the next five years are listed below.

Conflux Price Prediction 2022

According to the current momentum of the Conflux price, the coin will reflect a significant change by the end of 2022. The price recovery is predicted by the Conflux CFX price prediction experts who are investing or trading in this coin. The minimum price of the CFX token is expected to be $0.22, and the maximum price is expected to be at new heights of $0.25. The average price of the CFX coin will be near $0.23 for 2022 as per the Conflux price forecast.

Conflux Network Price Prediction 2023

The future of Conflux Network price is optimistic with upcoming collaborations and technological developments. For the year 2023, the average Conflux price forecast of CFX token is expected to be at $0.26. The minimum price is projected around $0.23, and the maximum price level of CFX crypto is expected to be at $0.29. Short-term investors or traders should save their money to invest in this crypto to earn significant profit over the next few years.

Conflux CFX Price Prediction 2024

Based on our technical analysis and Conflux CFX price prediction, the coin has a bright future ahead of it in 2024 with continual developments in the ecosystem. The technical analysis suggests that if the bullish trend continues, the average price of the CFX coin to be near the $0.29 price level. The minimum price forecast is $0.22, with the maximum price at $0.34.

Conflux CFX Price Prediction 2025

With considerable volatility of the cryptocurrency market, after a significant CFX price rise, the coin might correct down. However, based on the data prediction models for the Conflux price forecast show the minimum and maximum price levels of $0.31 and $0.39, respectively. The average trading price is predicted to be $0.35 during the same period.

Conflux CFX Price Prediction 2026

By 2026, the Conflux Network price may go down as compared to the year 2025. The minimum price of CFX will be $0.29 with a maximum price of $0.35 and an average CFX price of $0.32 for the year 2026, based on our CFX price prediction.

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Frequently Asked Questions (FAQs)

Is Conflux a good investment?

We do believe that CFX can turn out to be a profitable investment in the future. Provided that this is not another scam, the potential for high returns is both great and not too crazy. That said, an investor should do their due diligence and find whether or not the CFX is a good fit for their portfolio. One should weigh the risk to reward ratio not to get sucked in by another scam crypto project. For these reasons, we recommend being patient and using trend-following approaches to enter this market and cash out when the trend fades. Not every crypto project becomes Bitcoin or Ethereum, so ensure that you are trading and not gambling your life savings.

How many CFX tokens are in circulation?

There are 1,563,436,598 CFX tokens in circulation. The market cap stands at $277,532,601.94, with a fully diluted at $277,532,601.94. The last 24-hour trading volume stood at $45,381,091.44.

Is Conflux safe?

Due to the nature of how Conflux integrates security into its consensus mechanism using the anti-cone penalty ratio, the Conflux network is secure. Not to mention, the project has heavily tested its PoW consensus mechanism to provide unparallel security and anti-reentrance attack protection at the protocol levels. The tree graph consensus algorithm utilizes parallel processing of blocks, which increases transaction confirmation speed and helps increase the transactions done per second.

Where can you buy CFX digital coins?

Conflux CFX coins are available for purchase on Binance, Gate.io, MEXC, WazirX, CoinDCX, Mandala, OKEx, etc.

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