$CFX Conflux's CFX Rallies on China Buzz, but Analysts Believe Fundamentals Still Lag

Despite bullish headlines and China ties, Conflux’s on-chain metrics remain weak even as insiders say Beijing might be warming up to some forms of digital assets

Conflux's CFX emerged as the winner during weekend trading, gaining around 14%, according to CoinDesk market data, and surpassing the broader CoinDesk 20 index, which rose by 4%.

However, behind the scenes, there's something missing: an uptick in on-chain activity. Conflux has positioned itself as being China's Ethereum, with a regulatory-compliant digital ledger, that doesn't have a token, available within mainland China.