Recently, the CFX token has been driven by multiple favourable factors, experiencing a significant price increase in July, rising from $0.06 to $0.27, an increase of about 3 times. This wave of growth was mainly stimulated by news such as the Conflux 3.0 upgrade and the offshore Renminbi stablecoin plan.

However, as these favourable information is fully digested by the market, the price momentum of CFX seems to have weakened. Market analysis shows that near the peak in July, there may have been a large-scale profit-taking. This can be seen from the candlestick charts on July 21 and 28, where there were volume-increasing bearish candles and long upper shadows, suggesting that while retail investors were chasing highs, there might have been large funds gradually exiting.

Currently, the CFX price has entered a relatively sideways phase, which typically means the market is waiting for new capital inflows or significant news stimuli. It is noteworthy that an upcoming important event may impact the CFX price: approximately 500 million CFX will be unlocked on August 11. This event may trigger market concerns about potential selling pressure, leading some investors to choose to adopt a wait-and-see attitude before the unlocking, which could potentially reduce market trading activity.

Regarding the future trend of CFX, there are divergent views in the market. Some analysts believe that the rise of CFX mainly relies on the drive of retail investors, lacking support from long-term institutional funds, which may expose its price to significant volatility risks. However, there are also opinions stating that as a Chinese public chain project, CFX still has development potential, but it requires more substantial progress to support its long-term value.

Overall, the CFX market is currently in a critical period. Investors need to comprehensively consider various factors when making decisions, including the upcoming token unlocks, changes in market sentiment, and the development progress of the project itself. In such a complex market environment, it is particularly important to maintain caution and rationality.