ICYMI: Convex liquidity declines amid imminent $126 million token unlock
This unlocking process is happening amid limited liquidity for swapping CVX to ether .
But come June 30, about 27.4 million CVX coins worth over $126 million will be unlocked, according toThese unlocked tokens are the first of 16 unlocks for vote-locked CVX tokens that will happen once a week from June 30. In total, 52.2 million CVX tokens will be unlocked. It is not a given that this unlocking process will lead to further selling pressure for CVX. At its current price of $4.82, Convex is down more than 90% of its all-time high of $60 achieved in January. As such, holders may choose to re-lock their coins and keep their Curve voting power.
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