Convex Finance, a DeFi protocol built on Curve Finance, on 30 June, commenced unlocking its CVX tokens. This resulted from limited liquidity to allow for swapping CVX tokens to Ethereum (ETH).
According to data from Dune Analytics, following the 30 June unlocking, the next unlock for the vote-locked CVX tokens was scheduled for 7 July. These form parts of the 16 unlock for vote-locked CVX tokens, which will see the unlocking of 52.2 million CVX.
However, while investors continue to entertain fear of a possible price decline for CVX, the token seems to have taken the opposite direction.
Investors thought wrong
According to data from CoinMarketCap, in the past seven days, the token ranked highest as the cryptocurrency with the most gains in price. The price of CVX has rallied 37.48% in the last week. At press time, the crypto exchanged hands at $5.71. The token’s