CFX Token Drops 5.12% After Conflux 3.0 Upgrade and 500 Million Unlock Announcement

Conflux (CFXUSDT) experienced a 5.12% price decline over the past 24 hours, with the current price at $0.1983 on Binance. The recent price movement is primarily attributed to the completion of the Conflux 3.0 upgrade, which introduced EVM compatibility and Proof-of-Stake improvements, as well as anticipation of a scheduled unlock of 500 million CFX tokens. Increased wallet activity and higher network throughput have contributed to market volatility, while technical analysis indicates bearish pressure with the price trading below key moving averages. Conflux maintains a market capitalization above $1 billion and a 24-hour trading volume exceeding $118 million, with active trading on major exchanges.