Convex Finance (CVX) Uprises Over 90% In A Week

Convex Finance (CVX) Uprises Over 90% In A Week
  • Convex Finance (CVX) has soared to nearly 90% in a week.
  • The platform boosts rewards for CRV stakers and liquidity providers.
  • Convex Finance launched CVX Vote locking on September 2.

The global reach of cryptocurrencies is astounding, despite their apparent simplicity. The number of investors is increasing on a daily basis, and investments are made in a range of methods. Significantly, advancements in the cryptocurrency industry are spreading at a rapid pace. Integrating new technology into the platform has become a valuable feature that attracts investors to invest in their native coins.

The market is experiencing a massive influx of crypto-assets, with new coins being introduced on a weekly basis. Furthermore, adding tokens to the list has become a regular occurrence, and each ecosystem is working to expand their developments.

Convex is a protocol for optimizing yields by simplifying the Curve boosting experience. Convex enables Curve liquidity providers to earn trading fees and claim increased CRV without locking in their own CRV. Liquidity providers can benefit from increased CRV and liquidity mining rewards with little effort.

Current Market Status

At the time of writing, the trading price of Convex Finance (CVX) is $12.74 with a trading volume of $27,095,868 in the last 24-hours. According to Coinmarketcap, CVX has risen to nearly 90% within 7 days and holds the 257th position.

Trading Chart of CVX

The chart depicts a bullish price pattern over the past week. The price of CVX has surged from $6.63 to $13.31 within a week. Moreover, CVX has risen to 37.76% in the past 24-hours. The current circulating supply of CVX is 21,376,501 coins. It is available in top exchanges such as ZT, BKEX, Gate.io, Hoo, and CoinW.

CVX Vote Locking

Convex Finance has launched CVX Vote locking on September 2. According to the announcement, users can lock CVX tokens to participate in voting and receive an additional 1% fee. This allows users to lock CVX tokens for a fixed time and earn voting power.

Significantly, with the recent updates, the launch of CVX Vote locking might be the reason for the price surge. However, users have experienced a sweet spot over the past week. Besides, CVX users expect more price hikes in the upcoming days.

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