Convex Finance (CVX) crypto surges over 7%; know price & performance

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Convex Finance (CVX) crypto surges over 7%; know price & performance

 Convex Finance (CVX) crypto surges over 7%; know price & performance
Image source: © Inueng | Megapixl.com

Highlights:

  • The CVX token went live on the AAVE V3 platform on June 21.
  • The token can be traded on Binance, Hotcoin Global, etc.
  • The CVX token’s highest price in the last 30 days was US$10.37.

The Convex Finance (CVX) crypto caught investors’ attention as it rallied more than 7% in the last 24 hours to Thursday morning. Its volume also skyrocketed by over 310% in the same period.

The CVX rally stood in contrast to the global crypto market’s 5% dip to US$854.24 billion, although the volume rose 2.78% to US$64.89 billion.

What is Convex Finance (CVX) crypto?

Convex Finance is a decentralized finance (DeFi) protocol where liquidity providers can earn a part of the trading fees on Curve without staking.

Alternatively, they could stake on Convex and earn Curve DAO tokens (CRV) and liquidity mining rewards. It provides the CRV stakers with improved capital efficiency and position Convex as the Curve ecosystem’s major player.

Convex competes with the Curve Finance stablecoin exchange. The higher the number of CRV tokens, the greater the influence over the interest rates on the Curve ecosystem, one of the largest decentralized exchanges (DEX) by total value locked.

The project was founded by a team of anonymous developers. Convex Finance’s native token CVX can be traded on exchanges like Binance, OKX, Hotcoin Global, etc.

The CVX token gained attention after it went live on the AAVE V3 platform on June 21. Convex has created new website URLs following a hacking attack earlier.

Convex Finance (CVX) crypto price and performanceData Source: CoinMarketCap.com

Bottom line:

The CVX token was priced at US$3.88 at 9:07 am ET on June 30, up 7.40%, while its volume for the trailing 24 hours skyrocketed 313.18% to US$26.54 million. It has a market cap of US$250.71 million, and its fully-diluted market cap is US$387.66 million.

The token has a maximum supply of 100 million, a total supply of 91.98 million, and its current circulating supply is over 64.66 million. It has over US$3.06 billion in total value locked (TVL).

The token saw the highest price of US$10.37 and the lowest price of US$3.12 in the last 30 days.

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