If I had a chance to review the project back in early 2023 with the China narrative ongoing, I would have said that I would be open to investing in this project, although not with a percentage of my portfolio allocated to Conflux. The project seemed like the perfect opportunity back then, with it being backed by the Chinese government, and also having backing with China companies such as with China Telecom for blockchain-based SIM cards and signing a partnership with Xiaohongshu, China's instagram. However, looking back that would have been the perfect 'pump and dump' as the token has dropped over 60% from its ATH back in March 2023.
With clearer circumstances, would I still be buying Conflux? I would, but probably not for a core portfolio, preferably something more for a short-term scalping portfolio, simply because of their unclear tokenomics preventing it from being a long-term back. The price of the token feels to be at the mercy of the founding team, as they can manipulate price due to their large holding and unlocks until 2024.
The project does have its pros and with it currently being China's 'number 1' crypto project, there is definitely room for it to grow along with bringing its massive number along for adoption. Show Less
