China's 'MATIC' Zooms 126% In A Week, Leaving Bitcoin, Ethereum In The Dust

The native token of Conflux Network, CFX CFX/USD is up 126%, outperforming the weekly gains of the top 100 cryptocurrencies by market capitalization including Bitcoin BTC/USD and Ethereum ETH/USD.

Cryptocurrency Gains (+/-) Price (Monday, 12 a.m. EST)
Bitcoin +23.67% $27,829
Ethereum +10.27% $1,781

What Happened:  After opening the week at $0.183 per token, CFX is already trading at $0.43.

Top Weekly Gainers
Cryptocurrency Gains (+/-) Price (Monday, 12 a.m. EST)
Conflux +126% $0.42
Mask Network +78% $5.60
Immutable +48% $1.40
Stacks +47% $1.10
MAGIC +34% $1.74

Conflux Network surpassed the $1 billion mark for the first time. CFX has thus become something of a unicorn, as start-ups achieving such valuations are called, and now takes 48th place in the ranking of the largest cryptocurrencies.

CFX first gained recognition earlier this year when it was integrated with China's popular social media platform, Xiaohongshu. At the same time, Conflux Network emerged as the only regulatory-compliant blockchain in China, inking partnerships with major companies such as McDonald's. The news was further driven home by China Telecom's announcement of the launch of SIM cards with Conflux Network's blockchain support. CFX is also popularly known as China’s ‘MATIC’.

The second on the list is Mask Network’s native token MASK MASK/USD which gained 78% in seven days. According to on-chain data analytics tracking firm Lookonchain, whales have been driving up the price of the MASK token, helping it achieve its parabolic rally in the past week.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

ImmutableX IMX/USD surged 48% in the last seven days on the much-anticipated upgrade that will change IMX’s ecosystem soon.

Stacks STX/USD was fourth on the list,  up 47% while Magic token MAGIC/USD saw 34% gains in the last seven days

Read More: Bitcoin, Ethereum, Dogecoin Mixed After Credit Suisse Deal: Balaji Srinivasan Sees Banking Crisis Boosting Apex Crypto To $1M

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