Conflux Doubles in Value Following Stablecoin Announcement and Protocol Enhancements

Conflux’s CFX Token Soars Over 100% on Offshore Yuan Stablecoin and Network Upgrade News

Conflux’s native token CFX skyrocketed as much as 115% in the past 24 hours, briefly hitting $0.24 — a level last seen in December — after the blockchain project unveiled major updates aimed at boosting adoption across Asia.

The surge followed announcements made during a weekend event in Shanghai, where Conflux revealed two major developments:

A new offshore yuan-pegged stablecoin, developed in partnership with fintech firm AnchorX and Eastcompeace Technology, and
The upcoming launch of Conflux 3.0, a protocol upgrade focused on high-throughput performance and real-world use cases.

The stablecoin is being designed specifically for cross-border trade along China’s Belt and Road Initiative (BRI) corridors, aligning with China’s broader international infrastructure and finance goals. The collaboration with Shenzhen-listed Eastcompeace and the mention in Chinese state media added credibility and fueled a wave of speculative inflows, particularly from Asian markets.

Trading volume in CFX jumped to over $1.7 billion — up from less than $60 million two days ago — and market capitalization rose above $1.09 billion, pushing the token back into the top 120 cryptocurrencies by value.

Conflux 3.0, expected to go live in August, promises a throughput of up to 15,000 transactions per second (TPS) and support for tokenized real-world assets (RWAs) and cross-border settlements. The upgrade is part of the protocol’s broader push to integrate more deeply into financial infrastructure in the region.

Often dubbed the “Chinese Ethereum,” Conflux has benefited in the past from China-linked developments. Previous rallies were sparked by collaborations with China Telecom on blockchain-enabled SIM cards, and pilots with McDonald’s China and the Shanghai government in Web3 and metaverse initiatives.

With regulatory alignment, real-world partnerships, and increasing adoption narratives, Conflux is emerging once again as a blockchain to watch in the Asia-Pacific region.