CFX Token Faces 6.87% Price Drop Amid 500 Million Unlock and Mainnet Upgrade Aftermath

Conflux (CFXUSDT) experienced a notable price decline of -6.87% over the past 24 hours, with the current price at $0.1980 and a 24-hour open of $0.2126, as reported by Binance. The recent downward movement is primarily attributed to increased market attention on the upcoming 500 million CFX token unlock, which is expected to expand the circulating supply and may have prompted selling pressure. Additionally, after a period of strong gains driven by the Conflux 3.0 mainnet upgrade and related network improvements, short-term profit-taking and reduced trading activity have contributed to the recent price drop. Trading volume remains substantial, ranging from $141 million to $270 million, and the market capitalization is approximately $1.01 billion to $1.07 billion, with a circulating supply of about 5.13 billion CFX.