CVX Price Analysis July 2022
CVX is a token of the platform Convex Finance. Its current price is around $7.77 by the time of writing, with a low of $3, and it has a market cap of 512 million dollars.
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What is Convex Finance?
Convex Finance offers a solution for CRV token holders in the Curve ecosystem. Users can earn additional rewards by trading their tokens and making more money on Curve transactions. The Curve has partnered with Convex to create a more rewarding and collaborative relationship between Curve and its liquidity provider investors. This partnership will allow Curve’s liquidity providers to earn boosted rewards by indirectly staking the LP token they hold on the platform. You can get more value from your CVX tokens and Curve trading fees by staking them and earning additional CRV.
What is CVX?
CVX is the coin of the Convex Finance platform, which is around $7.77 by the time of writing, with a low of $3. It reached a high of $62.69, and its current ranking is #80 according to CoinMarketCap, with a market cap of 512 million dollars. The CVX token is the native cryptocurrency of the Convex platform. It is mined pro-rata for each CRV token claimed by liquidity providers on the Convex Finance platform. By holding CVX tokens, you get a share of fees collected by the company.
CVX Coin Market Analysis
CVX has a total supply of 93,187,397 coins worth around $7.77 with a market volume of 20 million dollars, whereas the market capitalization is 512 million dollars at writing.
CVX Price Prediction
CVX is a reliable option you can count on as a long-term investment. On the 1D timeframe, the price action of $CVX/USDT consolidates inside the ascending channel. We must wait for a successful breakout or breakdown to confirm its next direction.
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Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.