Conflux public chain Token price soars, plans to participate in offshore RMB stablecoin pilot

On July 20, the Conflux public chain token CFX experienced a significant price increase, rising from around $0.11 to a peak of $0.25, with a daily increase of over 100%. Since the beginning of this month, CFX has accumulated a rise of 202%. Calculating from the low point of $0.02 in December 2022, CFX has achieved an increase of over 10 times. Currently, the market capitalization of this token is approximately $870 million.

Although Conflux's market value performance among domestic public chains is not outstanding, a recent piece of news has attracted attention within the industry.

According to reports, the Conflux Tree Graph Technology and Ecological Development Conference was recently held in Shanghai. At the conference, Conflux released the 3.0 version of its public chain and announced plans to participate in the pilot issuance of offshore Renminbi stablecoin under the "Belt and Road" initiative.

The pilot program focuses on the issuance of stablecoins pegged to offshore Renminbi (CNH), aiming to facilitate cross-border trade settlements and the application of physical assets ( RWA ), covering countries along the "Belt and Road" initiative, particularly in Central Asia and Southeast Asia.

The domestic attention on stablecoins is also increasing. Experts point out that stablecoins have surpassed the traditional offshore and onshore categories, suggesting to consider a linked development model of domestic offshore and foreign offshore Renminbi stablecoins. There are also viewpoints suggesting that it may be worth considering promoting the innovative exploration of relevant Renminbi stablecoins simultaneously in the Shanghai Free Trade Zone and Hong Kong.

The "Belt and Road" initiative, proposed in 2013, has become the largest global infrastructure and trade cooperation framework, covering multiple continents including Asia, Europe, and Africa, involving nearly 150 countries and regions. According to statistics, the total investment in this initiative has exceeded 1 trillion USD. It is expected that by 2030, the "Belt and Road" will generate an annual revenue of 1.6 trillion USD, connecting China with 229 cities and driving growth through the energy, mining, and technology sectors.

Technically, the Conflux public chain 3.0 upgrade is an important driving factor behind the recent price surge. This upgrade is scheduled to go live in August 2025, and version 3.0 will further introduce parallel block processing and AI agent support, increasing the transaction processing capacity from the current 3000-6000 TPS to over 15,000, and even higher levels in simple payment scenarios.

In addition, a recent acquisition news involving Conflux has also attracted market attention. A Hong Kong listed company announced that it has signed a memorandum of understanding with relevant parties, which involves a potential acquisition of all shares of the target company, provided that the target company completes the acquisition of Conflux's assets according to the agreement. After this news was released, the stock price of this listed company surged by 240% at one point.

It is worth noting that the two founding members of Conflux also serve as executive directors of the listed company. According to data, these two founding members are also core team members of another AI public chain project.