A layer-1 blockchain challenge exploded final week on the heels of a brand new integration with a Chinese language social media big.
Multi-chain ecosystem Conflux Community (CFX) is buying and selling round $0.0554 at time of writing, up over 150% from its 2023 open of $0.022.
CFX, which is the 250th-ranked crypto asset by market cap, is down over 15% previously 24 hours.
CFX’s eye-popping features this month occurred amid the challenge’s announcement that it had been built-in into Xiaohongshu (“Little Pink Ebook”), a Chinese language social media and e-commerce platform that reportedly has greater than 200 million month-to-month energetic customers.
Xiaohongshu’s customers can now show Conflux-minted non-fungible tokens (NFTs) on their profile web page within the digital assortment part known as “R-House,” in line with the announcement.
Says Ming Wu, the chief expertise officer at Conflux,
“Massive web business gamers in China have initiated efforts embracing the Web3 transition. Conflux is changing into the key bridge connecting the 2 worlds and taking a management position to develop Web3 expertise into conventional business situations.”
Regardless of the worth features this week, CFX stays practically 97% down from its all-time excessive of $1.70, which it hit in March 2021.
Conflux payments itself because the “solely regulatory compliant, public, and permissionless blockchain in China.”
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