CFX Token Slides 5% Amid Technical Sell-Off and Anticipation of 500 Million Unlock in 2025

Conflux (CFXUSDT) experienced a 5.00% price decline over the past 24 hours, with the current price at 0.1974 USDT according to Binance data. The recent price drop is primarily attributed to technical factors, including profit-taking after a previous rally driven by the Conflux 3.0 mainnet upgrade announcement and subsequent market consolidation. Additional downward pressure was noted following technical analyses suggesting a "short setup" and the formation of bearish patterns, as well as community focus on the upcoming 500 million CFX token unlock scheduled for August 2025. The market remains active, with 24-hour trading volume exceeding $100 million and a circulating supply of approximately 5.1 billion CFX tokens, while volatility persists amid shifting support and resistance levels.