Convex Finance [CVX]: All you need to know before last unlock takes place

ambcrypto.com:

According to the data from Dune Analytics, of the 16 unlocks scheduled to free up vote-locked 52.2 million CVX tokens, only one is left to go. 

On 30 June, due to the limited liquidity issues that hindered its users from swapping CVX tokens for Ethereum (ETH), Convex Finance, a DeFi protocol built on Curve Finance, initiated the unlocking of some of its vote-locked tokens. However, investors feared that the planned unlocks might negatively impact the price of CVX. 

Have they been proven right?

The price per CVX has touched a series of highs and lows in the past few months. According to data from CoinMarketCap, the crypto asset exchanged hands at $3.6 when the unlocking process began.

By the 4th unlock on 21 July, the price per CVX had rallied by 128%. CVX’s price dropped momentarily between 23 – 27 June. However, by the close of July, it returned to the $8 price mark.

As the rest of the market suffered a correction following the July rally, CVX’s price also declined at the start of the new trading month (August). Within the 31-day period, the asset’s price dropped from the high of $8 to close the month pegged at $5.11. 

Furthermore, as the unlocking continued in September, the downturn in price slowed. According to CoinMarketCap, CVX’s price only fell by 3% within the 30-day period.

With its price at a better position than it was when the unlocking started, CVX exchanged hands at $5.45 as of this writing. Its price has grown by 51% since the first unlock on 30 June. 

Source: CoinMarketCap

According to data from on-chain analytics platform Santiment, about a month into the unlocking process, a significant number of CVX holders turned a profit as the asset’s market-value-to-realized-value (MVRV) rallied to post a positive value of