The $CVX Token has experienced a significant breakthrough recently. According to reports, $CVX (the native cryptocurrency of Convex Finance) has made a strong comeback in terms of overall profits. This is a stark contrast to its previous position, where it was facing losses in the market.
Last week, a whopping 99% of $CVX holders were in the red. However, the tables have turned, showcasing the power of comebacks in the volatile world of crypto. Currently, 36% of addresses are now in profit, holding over 90% of the $CVX supply, indicating a positive shift in the token’s trajectory.
A recent tweet from IntoTheBlock highlighted the swift turnaround of $CVX following a steep decline. The reports indicate a remarkable difference from the previous week when the token was causing significant losses for its holders. Now, there is a renewed sense of optimism among $CVX holders with the token’s rapid increase in value.
In the last twenty-four hours, $CVX has surged by over 50%, reaching a peak price of $3.70. Convex Finance, which operates Curve Finance, supports its liquidity providers by offering higher rewards, contributing to the token’s positive momentum.
The reports also mention a surge in volume for the CVX/USDT trading pair, reaching $32M in a single day, setting a new record. With thirty-six percent of addresses now in profit, holding more than ninety percent of the token’s total supply, the future looks bright for $CVX.