CFX Token Drops 7.15% After 500M Unlock and Conflux 3.0 Upgrade Spurs Market Volatility

Conflux (CFXUSDT) experienced a notable price decline of 7.15% over the past 24 hours, with the current price at $0.1935 on Binance. The recent decrease is primarily attributed to the aftermath of the 500 million CFX token unlock, which increased the circulating supply to over 5.1 billion CFX and prompted community discussions regarding supply dynamics and team actions. Additionally, the market is reacting to volatility following the completion of the Conflux Network 3.0 upgrade, which introduced EVM compatibility and new staking features. Despite previous rallies driven by upgrade anticipation and technical patterns, the current market sentiment reflects caution as traders monitor key support and resistance levels. The 24-hour trading volume for CFXUSDT on Binance is approximately $29.60 million, with the overall market capitalization ranging from $994 million to $1.07 billion.