A blockchain platform that aims to provide high scalability and low fees. Conflux Network (CFX), Binance has seen a significant increase in open interest on futures contracts.
CFX Open Positions on Binance Futures Rise Within Minutes
According to data from OIB – Crypto Open Interest Variations Bot, a Twitter account that tracks changes in open interest of various crypto futures contracts, the CFX/USDT pair on Binance futures has seen its open interest increase by 4.05% within 15 minutes at the time of this writing.
The data also shows that more than $3.9 million of CFX futures contracts were added to the open interest in the same timeframe, indicating that traders are bullish on the CFX price and expect it to go further.
a China-linked cryptocurrency As of the writing of this article, Conflux Network, with the effect of the latest developments, is watching with an increase of approximately 16% in the last 24 hours. The rally occurred in a general bullish environment where the Bitcoin price surged above $29,000.
Conflux Network is recognized as a blockchain platform that claims to achieve high throughput and low latency using a new consensus algorithm called Tree-Graph. It also supports cross-chain interoperability and smart contracts. The platform recently launched its mainnet and has partnered with various projects and institutions such as Huobi Global, OKExChain, Chainlink, and the Shanghai government.
*Not investment advice.
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