Conflux price increases by over 3% in the last 24 hours, while the number of short liquidations increases

Conflux price increases by over 3% in the last 24 hours, while the number of short liquidations increases

The price of Conflux (CFX) has increased by over 3 % in the last 24 hours, since the demand for old coin has increased. The native token CFX is currently being traded at just under $ 0.20, a few points above the weekly low of $ 0.17.

Compared to the highest level this year, the Conflux course has fallen by about 60 %. The market capitalization of this cryptocurrency is just over $ 600 million.

The number of short liquidations has reached a new high, as data from Coinglass show. Short positions worth over $ 774,000 were liquidated on crypto bonds such as Binance, Okx, Bybit and Huobi. In contrast, long positions worth over $ 287,000 were liquidated.

liquidations are an important part of the crypto industry. Trade platforms close levered positions that cause losses. More liquidations also mean a higher trading volume of the coin.

One of the reasons for the price increase could be the partnership between Conflux and BR Group, one of the largest service agencies for Web3. Although no further details have been announced, it is likely that the company will use the services of the other company for marketing purposes.

Conflux is a rapidly growing proof-of-work (POW) cryptocurrency, which is designed as an alternative to popular networks such as Bitcoin and Ethereum. Her fame is based on a recent partnership with China Telecom, which uses Conflux technology for a blockchain-capable SIM card. However, it remains to be seen how successful the SIM card will be.

The price chart shows that the CFX Coin has recorded a strong bear trend in recent months. The coin has fallen below the lines of the sliding average of the last 25 and 50 days. He also formed a descending sewer pattern that encloses the current price. The trade volume has broken massively in recent months.

However, there are also positive aspects. The Conflux Prize has formed a pattern at $ 0.1738 that resembles a double floor formation. Therefore, a recovery of the coin is not excluded. However, a decline under the support of $ 0.17 would refute the Bullishe perspective.

This guide explains how to buy Conflux and other old coins. The information in this article should serve to give an interested reader an overview of the current conflux and to provide insights into possible course developments.