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March 20, 2023 5:47 AM | 2 min read

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

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

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Conflux Networksurpassed 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 Chinas MATIC.

The second on the list is Mask Networks native token MASK (CRYPTO: MASK) 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 (CRYPTO: IMX) surged 48% in the last seven days on the much-anticipated upgrade that will change IMXs ecosystem soon.

Stacks (CRYPTO: STX) was fourth on the list, up 47% while Magic token (CRYPTO: MAGIC) 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

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Conflux Network (CFX) Outshines Bitcoin, Ethereum With 126% Weekly Surge - Benzinga