Recently, the Conflux (CFX) digital asset market has shown significant fluctuations. In the past 24 hours, the trading price of CFX against USDT has fallen by 4.03% on the Binance platform, and the current quote is 0.1907 USD.

This price correction is mainly due to two factors. First, the upcoming hard fork upgrade to Conflux v3.0.1, which will be implemented on September 1, has caused market uncertainty. Several major trading platforms have announced a temporary suspension of CFX deposit and withdrawal services to address potential technical changes. Second, regulatory trends related to the offshore renminbi stablecoin pilot have also brought a certain degree of concern to the market.

Despite facing these short-term challenges, CFX's trading activity remains at a certain level. It is worth noting that the 24-hour trading volumes across different exchanges show significant differences, reflecting the characteristics of a decentralized market. Currently, the circulating supply of CFX is approximately 5.1 billion units, with a price range fluctuating between 0.1712 USD and 0.2155 USD, demonstrating high market volatility.

From a market capitalization perspective, CFX is currently fluctuating between $898 million and $1.11 billion. This data reflects that market participants are currently inclined to adopt a wait-and-see attitude, awaiting further market signals.

Overall, although CFX faces some uncertainties in the short term, the technological upgrades and market adjustments behind it may lay the foundation for long-term development. Investors and market participants need to closely monitor the upcoming hard fork upgrade progress, as well as the evolution of relevant regulatory policies, to better assess the future trend of CFX.