CFX Jump 14% Because China Optimism; On-Chain Activity Weak
Conflux own token CFX jump 14% during di weekend as pesin dem get new hope for China. Even though e perform pass di bigger CoinDesk 20 index, di on-chain metrics show say transaction volume no dey grow and network usage low. Daily transactions still below di 2022 average, and almost 80% of di gas fees comot from only three accounts, which dey show centralization risk. Analysts talk say Conflux dey sell im protocol as China-compliant alternative to Ethereum, dem dey partner with local web platforms and dem dey explore offshore-yuan stablecoin. But insiders warn say Beijing interest for digital assets dey face regulatory uncertainty. Traders suppose balance di short-term price rally with di weak fundamental data, because if user adoption no increase, di on-chain performance fit limit further gains.
Neutral
Even though CFX konot 14% weekend rally dey reflect strong market feeling on China news, on-chain metrics still dey weak and centralization wahala no clear yet. Similar past rallies—like speculative surges for small-cap tokens wey no get user growth—usually go fade once hype reduce. For short term, price momentum fit attract traders, but no steady transaction growth plus network decentralization issues fit limit the upside. Overall, the balance between bullish price action and weak fundamentals show say the effect go remain neutral as traders dey wait for clearer on-chain improvements.