Conflux (CFX) recorded a sharp advance on October 11, 2026, with its price rising more than 35% over 24 hours and briefly crossing the $0.072 level. The move followed reports of a Chinese government call for a national blockchain network, drawing attention to the project's domestic positioning.

Price Action and Trading Activity

CFX traded near $0.06936 after touching above $0.072 earlier in the session. Earlier in the day the token had climbed 10.31% within a single hour to reach $0.06635, extending its 24-hour gain at that point to 29.36%. The daily trading range stretched from approximately $0.05836 to the session high near $0.072.

Trading volume expanded substantially. One report showed 24-hour volume rising more than 1,000% to around $157 million, while another noted volume near $32 million during the morning advance. Derivatives activity also intensified, with volume increasing over 2,000% to $449 million and open interest rising 44% to $44 million.

Spot market data indicated strong accumulation earlier, with buy volume reaching 256 million on October 10 before declining the following day. The buy delta remained positive near 24 million.

Policy Backdrop and Project Positioning

The rally coincided with statements from the Chinese Communist Party and State Council outlining plans for a national blockchain network as part of broader economic development measures. The proposal also referenced an integrated computing power network intended to support digital infrastructure goals.

Conflux presents itself as China's only regulatory-compliant public and permissionless blockchain. Market participants linked the renewed interest in CFX to this positioning, though available information did not confirm any direct role for the project in the proposed national network.

Technical Levels and Market Context

Prior to the advance, CFX had recovered from near $0.047 and broken out of a multi-month descending channel. It held above $0.05 before reaching a five-month high near $0.064. The relative strength index rose to 68, consistent with increased buying pressure.

Traders identified $0.07 as a near-term resistance area and $0.06 as nearby support. Further upside targets near $0.077 were noted in technical commentary, while a potential retreat toward $0.055 remained possible if policy-related interest diminished.

The broader cryptocurrency market traded mixed during the period, with CFX ranking among the stronger performers among altcoins.