Conflux jumps 17% on China blockchain buzz – Will CFX’s breakout hold?

Conflux [CFX] bounced back from $0.047 and broke out of a multi-month descending channel. The token held $0.05 before climbing to a five-month high of $0.064. At press time, Conflux traded around $0.0604, up 17% on the daily charts. Over the same period, Trading Volume surged 1,071% to $157 million, reflecting a sharp increase in market activity. The rally coincided with China’s reported call for a national blockchain network, putting Conflux’s domestic positioning back in the spotlight. Is China’s blockchain push lifting Conflux?

Source: AMBCrypto