Will the domestic blockchain light CFX currency drop sharply after it is unlocked in 2024?

CFX coin is the native functional token of the Conflux network, aiming to provide users with a safer and faster transaction experience, and emphasizes its privacy-focused and efficient transaction characteristics. Although CFX Coin is still relatively new in the cryptocurrency space, its technology and vision have already attracted some attention. In particular, the unlocking of CFX coins on January 1 has attracted the attention of investors. Investors are mainly concerned about the price issue. They want to know whether the CFX coins will drop sharply after they are unlocked in 2024? According to the data, its price has not dropped significantly. Next, the editor will talk about the unlocking issue in detail.

# Will CFX coins drop significantly after they are unlocked in 2024?

The possibility of CFX coin 2024 falling sharply after being unlocked is relatively small. Current data shows that the investment return of CFX coin is 250.83%, and the price is US$0.421 higher than the issue price of US$0.12. But whether there will be a sharp decline after unlocking depends on factors such as the market's supply and demand, the development of the project, the health of the ecosystem, and investor sentiment.

The development of ConfluxNetwork is crucial to the price of CFX coins. If the project can promote the development of the ecosystem, attract more developers and users to participate, and achieve major technological breakthroughs, this may increase investor confidence in CFX coins, thereby supporting price stability or growth.

The increase in the number of unlocked CFX coins may lead to an increase in supply, but this is only one aspect. The market demand for CFX coins will also be affected by a variety of factors, such as market sentiment, industry development, investor confidence, etc. If the market is optimistic about the development of the Conflux Network ecosystem and is willing to hold CFX coins, it may slow down the price decline.

Investor sentiment and attitude will also have an impact on the price of CFX coins. If investors are optimistic about the future of the project and believe that Conflux Network can be successful, then they may be willing to hold CFX coins, thereby supporting the price. But if investors become concerned or lose confidence in a project's prospects, selling pressure may arise, causing prices to fall.

What project’s token is cfx?

CFX is the token of Conflux tree diagram. Conflux Treemap was established in 2018. It is one of the few domestic public chains and has maintained active operations. Treemap also has relevant cooperation with governments and universities. In 2020, Treemap Research Institute was established in cooperation with the Shanghai Municipal Government and a blockchain laboratory in cooperation with the Hunan Provincial Government. The official website claims that Conflux Treemap is one of the only compliant, public, permission-free blockchains.

CFX tokens were issued on October 29, 2020, with a total amount of 5 billion. The current circulating supply is 686 million and the market capitalization is US$810 million. The issuance price was US$0.12 and the historical high reached US$1.71.

The distribution of tokens is as follows:

16% is used for private equity investors and foundation reserves, which has been unlocked;

36% is allocated to the founding team and seed investment people, will be unlocked in 2024;

8% will be collected in the community fund, and will also be unlocked in 2024;

40% will be part of the ecological fund, and will also be unlocked in 2024.

What about CFX coins?

Currently, CFX coin is okay. According to official data, the current price of CFX coin is US$0.421, which is lower than the historical high price of US$1.7018, but higher than the issue price of US$0.12. The current investment return is also relatively optimistic. 250.83%. Overall, CFX currency has certain development potential.

CFX coin is the native functional token of Conflux Network. ConfluxNetwork is a high-performance public chain platform. Its goal is to create a foundation that can support decentralized applications (dApps), e-commerce and Web 3.0 A blockchain network of facilities. The core technology of ConfluxNetwork is the Tree-Graph consensus mechanism, which combines the advantages of Proof of Work (PoW) and Proof of Stake (PoS) to achieve a balance of high throughput, high security and high decentralization. ConfluxNetwork also provides cross-chain protocols, smart contracts, storage leasing, network governance and other functions, building a complete blockchain ecosystem.

CFX currency plays an important role in ConfluxNetwork. It is used to pay transaction fees, serve as a store of value, participate in network governance and mortgage. CFX coins also incentivize and reward miners, who contribute computing power to ensure the safe operation of the network. CFX coins can also be transferred between different blockchain networks to realize the interoperability and flow of assets.

As a high-performance public chain platform, CFX currency has broad future development prospects. CFX currency can provide blockchain solutions for various industries and fields, such as finance, games, social networking, e-commerce, Internet of Things, etc. CFX currency can also cooperate and interact with other blockchain networks to build an open and diverse blockchain world. CFX currency can also continuously innovate and optimize to improve its technical level and competitiveness.

Team

According to the official website, Conflux is a project launched by Shanghai Shutu Blockchain Research Institute, covering public chain and alliance chain businesses.

Among them, the public chain system is rated as the world's three largest public blockchain chain along with Bitcoin and Ethereum.

Shanghai Shutu Blockchain Research Institute was founded in 2020 with the support of the Shanghai Municipal Government. It is led by Long Fan, a professor at the University of Toronto who has won the International Informatics Olympiad gold medal twice and the Massachusetts Institute of Technology (MIT) ) PhD in computer science, is the world's top computer scientist) was founded and initiated, and Yao Qizhi (computer scientist, the only Chinese Turing Award winner) serves as the chief scientist.

The establishment of this blockchain research institute is based on the research and development of the public chain of the underlying system of Conflux blockchain.

Financing

In less than half a year since its establishment, Conflux has received support from a number of traditional investment institutions and Internet companies and successfully raised 35 million yuan. Dollar. These institutions include Sequoia Capital China, Fengrui Capital, Baidu Ventures, IMO Ventures and other well-known institutions. After financing, the project is valued at more than $400 million.

Conflux is supported by the Shanghai government, and its team members come from well-known universities such as Tsinghua University’s “Yao Class”, MIT, Carnegie Mellon University, Tsinghua University, University of Toronto, and Shanghai Jiao Tong University .

In addition, even Xiaohongshu, which has 200 million users, supports the project. With the blessing of Hong Kong's "opening up", it is normal for this leading concept project in Hong Kong to soar.

Binance announces integration with Conflux Network (CFX) mainnet

Binance issued an announcement on April 10 announcing that Binance will support integration with the Conflux Network (CFX) mainnet. Upon completion, Binance will support the deposit and withdrawal of CFX tokens through Conflux eSpace, Conflux Core Space and BNB Smart Chain (BEP20). The opening hours of the deposit and withdrawal of CFX tokens on the main network will be announced separately. Conflux official tweeted to share this news and said: Conflux community, this is big news! We are excited to announce that Binance will support integration of the Conflux Network mainnet.

After the news of this integration was released, the native token CFX rose by 20% within the day.

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