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Convex Finance

CVX

Price
$4.03
11/29/2022, 5:23:43 AM
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Market

Market stats

Market cap

$288.6M

Volume (24h)

$13.8M

Circulating supply

71.8M CVX

Typical hold time

8 days

Trading activity

Not enough data

Popularity

#58

All time high

$62.69

Price change (1h)

+1.84%

Price change (24h)

-1.4%

Price change (7d)

+12.44%

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Convex Finance is on the rise this week.

The price of Convex Finance has risen by 12.44% in the past 7 days. The price declined by 1.40% in the last 24 hours. In just the past hour, the price grew by 1.84%. The current price is $4.034 per CVX. Convex Finance is 93.57% below the all time high of $62.69.

The current circulating supply is 71,769,031.781 CVX.

About

CVX is the ERC-20 utility token of Convex Finance, which permits Curve Finance liquidity providers to earn boosted rewards. CVX tokens function as Convex Finance’s governance token, and can be locked in exchange for a portion of the platform's earnings.

What Is Convex Finance (CVX)?

Convex Finance is a decentralized platform that enables rewards for CRX liquidity providers and stakers, all in an easy and simple to use interface. As per its whitepaper, the asset runs on the Ethereumblockchain, and users need an Ethereum wallet to interact with the Dapps on the Convex platform. 

Convex Finance is an inventive DeFi protocol built on top of the stablecoin exchange, Curve Finance. Curve finance is a decentralized exchange (DEX) on the Ethereum blockchain designed to swap between stablecoins. The liquidity providers on this network also receive boosted CRV and liquidity mining rewards with minimal efforts. In the case of staking CRV, the platform allows its users to receive trading fees and a share of boosted CRV acquired by the liquidity providers. Hence, the whole process allows for a better balance between CRV stakers and liquidity providers with better capital efficiency. 

CVX token is the native token of Convex Finance. The token can be staked on the network to earn a share of CRV earnings of the Curve liquidity pool. The CVX token can be used for voting, such as gauge weights in the future. This digital token is minted pro-rata for each CRV token claimed by Curve LPs (liquidity pool) on the Convex platform. Minting is the process of producing and creating a new block, validating information, and recording data on the blockchain. 

The platform allocates 50% share of each token transaction on Curve LP rewards, 25% on liquidity mining, 9.7% on treasury, 1% to veCRV holders, 1% to whitelist Convex veCRV holders who vote, 3.3% to investors, and 10% to the Convex team. The platform has no withdrawal fees and minimal performance fees, which are used to pay for gas and distribution to CVX stakers. 

History of Convex Finance (CVX)

The currency has a maximum supply of one hundred million CVX coins.

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FAQ

What is the current price of Convex Finance?

The price of 1 Convex Finance currently costs $4.03.

What is the market cap of Convex Finance?

The current market cap of Convex Finance is $288.57M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Convex Finance?

The all-time high of Convex Finance is $62.69. This all-time high is highest price paid for Convex Finance since it was launched.

What is the 24 hour trading volume of Convex Finance?

Over the last 24 hours, the trading volume of Convex Finance is $13.81M.

What other assets are similar to Convex Finance?

Assets that have a similar market cap to Convex Finance include Celo, NEM, Immutable X, and many others. To see a full list, see our comparable market cap assets.

How many Convex Finance are there?

The current circulating supply of Convex Finance is 72 million.

What is the typical holding time of Convex Finance?

The median time that Coinbase customers hold Convex Finance before selling it or sending it to another account or address is 8 days.

What is the relative popularity of Convex Finance?

Convex Finance ranks 225 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Convex Finance?

Currently, 94% of Coinbase users are buying Convex Finance. In other words, 94% of Coinbase customers have increased their net position in Convex Finance over the past 24 hours through trading.