Current CVX Token Overview
Convex Finance (CVX) is a prominent DeFi token currently ranked #153 by market capitalization. As of the latest data, the live price of CVX stands at approximately $2.25. The token operates on a Proof-of-Stake (PoS) consensus mechanism and is not mineable.
The total supply of CVX tokens is capped at 100,000,000, with a circulating supply of 99,905,822. This results in a fully diluted market cap of around $225,040,000. The 24-hour trading volume is notable, at nearly $5 million, indicating active market participation.
Key Market Statistics
- Current Price: $2.25
- 24h Price Change: -1.01%
- 24h Trading Volume: $4,963,712
- Market Cap: $225,040,000 (fully diluted)
- Volume/Market Cap (24h): 2.22%
Understanding these metrics is crucial for gauging the token's liquidity and market activity. For a deeper dive into real-time market dynamics and advanced charting tools, you can explore comprehensive market analysis platforms.
Historical Price Performance
Analyzing CVX's price history provides context for its current valuation and potential future movements.
Short-Term Performance (7D):
The token has seen a 7-day low of $2.16 and a high of $2.66, representing a weekly decline of approximately 8.61%.
Medium-Term Performance (1M - 6M):
Over one month, CVX is down about 15.80%. The six-month view shows a more significant decrease of 54.00%, highlighting a period of substantial market correction or broader ecosystem challenges.
Long-Term Performance (1Y):
The 52-week range for CVX is vast, from a low of $1.43 to a high of $8.08. This represents a 52-week decrease of roughly 26.46%, underscoring the high volatility inherent in the cryptocurrency market.
Understanding Return on Investment (ROI)
Convex Finance's ROI metrics paint a picture of recent performance:
- 1 Hour: +0.62%
- 24 Hours: -1.01%
- 7 Days: -8.61%
- 1 Month: -15.80%
- 6 Months: -54.00%
- 1 Year: -26.46%
These figures are essential for investors to assess short-term fluctuations against longer-term trends.
What is Convex Finance (CVX)?
Convex Finance is a decentralized finance (DeFi) protocol built to simplify the process of earning yield on Curve Finance (CRV) tokens. By depositing CRV into Convex, users can earn boosted rewards without the need to manually manage complex veCRV (vote-escrowed CRV) locking mechanisms. The CVX token is the native governance token of the Convex ecosystem, allowing holders to participate in decision-making and share in the protocol's revenue.
Core Protocol Features
- Yield Optimization: Maximizes returns for CRV stakers and liquidity providers.
- Simplified Staking: Removes the technical barriers associated with direct Curve Finance interactions.
- Governance: CVX token holders can vote on proposals influencing the protocol's future.
- Fee Sharing: A portion of the protocol's earnings is distributed to CVX stakers.
How to Evaluate CVX as an Investment
Investing in any cryptocurrency, including CVX, requires careful consideration. The DeFi sector is known for its innovation but also for its high volatility and risk.
Key Factors to Research:
- Project Fundamentals: Review the Convex Finance whitepaper, understand the team's background, and assess the tokenomics (e.g., emission rate, distribution schedule).
- Market Environment: Broader crypto market trends significantly impact individual token prices.
- Protocol Utility: Analyze the demand for Convex's services within the DeFi ecosystem. Is TVL (Total Value Locked) growing?
- Competitive Landscape: Understand how Convex compares to other yield-optimizing protocols.
It is crucial to understand that past performance is not indicative of future results. 👉 Access real-time analytics and risk assessment tools to make more informed decisions.
Frequently Asked Questions
What is the current price of Convex Finance (CVX)?
The live price of Convex Finance (CVX) fluctuates constantly. As of the latest update, it is approximately $2.25 USD. Prices can vary slightly across different cryptocurrency exchanges due to factors like liquidity and trading volume.
How can I buy Convex Finance (CVX) tokens?
CVX tokens can be purchased on both centralized (CEX) and decentralized (DEX) cryptocurrency exchanges. The process typically involves creating an account on a supported exchange, completing any necessary identity verification, depositing funds (either fiat currency or another cryptocurrency), and executing a trade for CVX. Always ensure you are using a reputable platform and secure your assets in a private wallet after purchase.
Is Convex Finance a good long-term investment?
The potential of Convex Finance as a long-term investment depends entirely on the continued growth and adoption of the Curve Finance ecosystem and the broader DeFi sector. Its value is tied to the utility and fees generated by the protocol. Investors must conduct thorough due diligence, assessing the project's fundamentals, market conditions, and their own risk tolerance before investing. The high volatility of the crypto market makes long-term predictions highly uncertain.
What does it mean that CVX is not mineable?
CVX not being mineable means new tokens are not created through a computational mining process like Bitcoin. Instead, CVX is minted and distributed as rewards to users who stake CRV tokens within the Convex Finance protocol. Its supply is governed by a smart contract with a fixed maximum cap.
Can I short-sell Convex Finance tokens?
Yes, short-selling CVX is possible on several cryptocurrency exchanges that offer margin trading, perpetual contracts, or futures contracts. This is an advanced and high-risk trading strategy that involves borrowing assets to sell, hoping to buy them back later at a lower price. It is generally only recommended for experienced traders who understand the significant risks involved, including the potential for unlimited losses.
Where can I find reliable information about the Convex Finance project?
The most reliable information comes from primary sources. These include the official Convex Finance website and documentation (whitepaper), its official GitHub repository for source code, and its community channels. Always be cautious of unofficial social media groups or channels that could disseminate misinformation.