Connex executed a significant cliff unlock on May 15, releasing 1.32 million CONX tokens valued at approximately $17.95 million. This release, part of the project's vesting schedule, distributed 822,500 CONX to the ecosystem fund and 500,000 CONX to the community treasury. The release represents about 1.49% of Connex's adjusted released supply and equates to roughly 60% of the token's market capitalization, which stands at around $30.61 million. The substantial release of tokens, which were already 88.60% in circulation, has raised concerns about potential short-term selling pressure. Cliff-style unlocks, where a large number of tokens enter the market simultaneously, can lead to volatility. This event occurs amid a busy period for token vesting, with over $229 million released across various projects recently. Connex's unlock adhered to its publicly disclosed schedule, contrasting with other projects that have faced governance challenges over vesting mechanics.