The native altcoin for an under-the-radar public blockchain project rose more than 20% on Friday, outpacing the vast majority of the crypto market.
Conflux (CFX) is a hybrid proof-of-work and proof-of-stake chain that bills itself as the “only regulatory, public and permissionless blockchain in China.”
The web3 project, which claims to be suitable for both decentralized finance (DeFi) and gaming, aims to bridge the gap between Western and Asian markets in line with its mission to be a ‘catalyst for the borderless economy’ are.
CFX is trading at almost $0.227 at the time of writing, compared to $0.185 on Thursday. The 88th-ranked crypto asset by market cap is also up nearly 33% from a seven-day low of $0.17.
CFX’s gains on Friday were reflected in the form of Conflux announced a strategic partnership with Asia-based venture studio BlockBooster.
explains the project,
“With a focus on nurturing web3 infrastructure, social and gaming projects, this partnership aims to:
- jointly identify Web3 incubation opportunities within the Conflux ecosystem.
- jointly facilitate major events for Conflux builders.
Stay tuned for more updates!”
BlockBooster is based in Hong Kong and aims to help develop protocols and software infrastructure for web3.
Despite the recent price gains, CFX remains nearly 87% lower than the all-time high of $1.70 it reached in March 2021, according to Coin gecko.
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Generated image: Midjourney