confluence, a first-level consensus blockchain, touts itself as the only “regulatory, public, and permissionless blockchain in China.” The project’s CFX token was the top-performing token for the week ended February 20th.
What happened: CFX’s gains of 286% outshone the appreciation in Bitcoin BTC/USD And ether ETH/USD.
| cryptocurrency | Profits (+/-) | Price (12 p.m. EST) |
|---|---|---|
| confluence (CFX) | +286.4% | $0.21 |
| stack (STX) | +138.2% | $0.73 |
| Filecoin (FIL) | +75.7% | $8.65 |
| Klaytn(CLAY) | +45.2% | $0.30 |
| Neo (NEO) | +38.3% | $11.71 |
Last week, the official Conflux Twitter account made the announcement Chinese Telecom – the second largest mobile operator on the mainland – has partners of the project to develop blockchain-enabled SIM cards, which it calls BSIM.
See also: How to Trade Cryptocurrency: A Beginner’s Guide
Why it matters: Separately, Conflux said the R&D phase for the BSIM card is complete and it is connected to the project’s main network for testing.
The project also caused a stir around token burning, Conflux said they have already burned nearly 500 million CFX and their latest DAO token burning proposal will take place in the coming week.
Continue reading: Joe Kernen criticizes Charlie Munger’s crypto knowledge: “I don’t think he read the first page of the Bitcoin standard”
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