CFX Surges Over 40% Following Conflux's Partnership with China Telecom
Conflux Network's CFX token has surged more than 40% after news broke of its partnership with China Telecom, currently trading around $0.076.
CFX Surges Over 40% Following Conflux's Partnership with China Telecom
Conflux Network has officially teamed up with China Telecom, the second-largest telecommunications provider in China, to develop blockchain-based SIM cards. The CFX token saw a significant spike following the announcement.
China Telecom, 2nd largest wireless carrier in China 🇨🇳 (390+ million mobile subscribers), has partnered with Conflux to develop Blockchain-enabled SIM cards - BSIM! pic.twitter.com/LQxz34L432
— Conflux Network Official (@Conflux_Network) February 15, 2023
According to the announcement, the telecom giant, which has over 391 million mobile subscribers, will launch its first pilot program in Hong Kong later this year.
Recently, this layer-1 blockchain platform has gained considerable momentum. Last month, Conflux integrated with the e-commerce social media platform Little Red Book, often dubbed as "Instagram of China." This collaboration aims to enable 200 million users to mint profile picture NFTs on Conflux.
As usual, Conflux’s CFX token saw an immediate price surge following the news. CFX is currently trading around $0.0761 with a 24-hour trading volume of $34.6 million.
15-Minute Chart of CFX/USDT on Binance at 09:00 PM on February 15, 2023
Conflux is a layer-1 blockchain platform designed to connect content creators, communities, and protocol markets. The platform received a $5 million research grant from the Shanghai government in 2021.
Ming Wu, CTO of Conflux, stated that Conflux is increasingly becoming a key bridge connecting major players in China's internet industry, particularly organizations embracing Web3.
