CFX Token Drops 12.93% Amid Network Upgrade Anticipation and 500 Million Token Unlock

Conflux (CFXUSDT) experienced a notable price decline of 12.93% over the last 24 hours, with the current price at $0.1778 according to Binance data. The recent drop is primarily attributed to profit-taking following a period of bullish momentum driven by anticipation of the upcoming Conflux v3.0 network upgrade, which aims to improve EVM compatibility and increase transaction throughput. Additionally, market participants are reacting to the planned unlock of 500 million CFX tokens, which is expected to increase circulating supply and contribute to short-term volatility. Trading volume remains elevated, ranging from $191 million to $215 million, reflecting sustained investor interest amid ongoing price fluctuations.