The decline of CVX 💰

A quarter of the supply of Convex Finance (CVX) is about to be unlocked, induce fears about a more distant price decline. This comes as the amount of liquidity on the platform — which can help absorb selling pressure — has shrunk considerably.

Right now, Curve's main pool for CVX tokens is balanced. 

Data from Curve shows there's currently about $11.2 million of wrapped ETH available as potential liquidity, alongside over $11.8 million of CVX tokens.

But come June 30, about 27.4 million CVX coins worth over $126 million will be unlocked, according to this Dune Analytics dashboard. This figure amounts to over 27% of the total Convex token supply.