The future of digital currency CVX; Convix Finance (CVX) digital currency price prediction
Convix Finance is a young and fresh platform that has been able to attract a lot of attention in the digital currency market in a short period of time. This platform is active in DeFi In addition to offering its owners the opportunity to earn passive income through the provision and accumulation of liquidity in a decentralized market, it has also enabled other attractive features such as bonuses and liquidity pools so that users can earn the most. We have fully explained about Convix Finance platform and its digital currency CVX in the article What is CVX. Now let’s look at the future of CVX digital currency together and see if this platform and its currency are worth investing at all? Stay with us until the end of the article.
Convix Finance and CVX cryptocurrency
The Convix Finance platform is actually a performance optimizer for the Curve Finance (CRV) protocol. The Curve protocol also works with the aim of simplifying the Token staking process in order to reward Convix Finance users through the platform’s native tokens, namely CVX. Simply put, the platform does its best to ensure that its users get the maximum possible return on their investment.
Convix platform was formed in 2021 by a group of unknown people. An important point that every investor should consider before starting their activity with this platform is that Convix Finance has not yet provided any specific white paper and of course there is no accountability system behind this currency; Of course, do not be mistaken! We do not consider having a white paper as a guarantee for the future success of digital currencies, but it can be counted as a positive point.
Convix Finance from Ethereum blockchain (ETH) used to execute its transactions; For this reason, CVX is more of a token than a coin, and this is what, in addition to flexibility and more possibilities, gives investors hope for the future of CVX digital currency. This currency has been minted in a limited amount of 100,000,000 tokens, all of which are in circulation.
People who plan to invest in this currency must first install and set up an Ethereum wallet or CVX currency wallets to be able to exchange tokens on this platform.
Why Convix Finance is unique?
The history of digital currencies has so far shown that every currency that has entered the field with unique features has been able to compete among thousands of other currencies at least for a short period of time. So let’s check what makes Convix Finance special compared to others and can it be effective in the future of CVX digital currency?
Since its inception, Convex Finance has come to the market with the slogan of seeking to deliver innovation for liquidity providers and shareholders. For example, while most similar platforms require investors to lock their native tokens, Convix does not.
If we want to summarize, what makes Convix Finance special from other competitors are these things:
- No withdrawal fee
- Lower transaction fees
- No need to lock CRV tokens
- Increase bonus income through pools
- A secondary source of income from circulating tokens
All of these things, along with several passive income streams, can put Convex on the list of popular currencies for investors. But nevertheless, we have to see if the future of digital currency CVX and Convix platform will be as good as today?
Check CVX digital currency price history
One of the factors that can help us in predicting the price trend and future behavior of CVX digital currency is the price history of this currency and its performance in the past days from the beginning to the present. As in the previous articles, we must emphasize once again that the past behavior of currencies cannot clarify their future path for us 100%, but it gives us very useful information so that we can make a prediction that is closer to reality.
CVX entered the digital currency market in April 2021 at a price of around $6. This token had a very stormy start to its early days as it rose by 203% to close to $19 on June 2 of the same year. However, the growth of this currency did not last long and it fell at the same speed as it rose and reached its lowest level of $1.
The red and bearish days after July 20, 2021 CVX continued. Even despite the news that Convex Finance has total liquidity (TVL) between 3.5 and 4 billion dollars for more than a month and this amount will approach the 5 billion dollar mark at the beginning of August, this currency It could not attract the attention of buyers and remained red.
Finally, from the middle of August, the Convix Finance currency started to grow and recover and reached around 13 dollars in September. As analysts have stated, CVX owes its growth on that date to the published news that the revenue of Convix platform exceeded 100 million in August; Because it was after the publication of this news that some buyers became hopeful about the future of cvx digital currency and rushed to the markets to buy it.
By October 23, 2021, when TVL Convex Finance crossed $12 billion, the CVX token jumped 44% from its mid-September price to $86.20. This token continued its upward price trend on November 10, 2021 and reached a historic high of $37.40. With the news of its updates, Convix Finance once again experienced red days and fell by 36% to $25 on November 30, just after a short period of peak days.
As with other cryptocurrencies, CVX has been in a bearish trend since 2022 and beyond, when many thought that cryptocurrencies and Bitcoin were on the brink of collapse. At the time of writing this article, i.e. in November 2022, this currency is traded around $4 and with a value of more than 6.70 million of the total circulating supply. This token also has a market value of around $305 million, making it the 92nd largest digital currency at the time of writing and giving buyers hope for the future of CVX digital currency.
CVX digital currency price prediction in the coming years
The digital currency market is known to be a volatile market, and no one can confidently comment on the future prediction of the Convix Finance cryptocurrency or any other large or small currency. Therefore, since countless factors affect the future behavior of currencies, the best thing to do is to make your investment decisions based on your own analysis and strategies and not based on what others say.
Now, so that you can plan your strategy for investing in CVX currency, let’s read the opinions of several digital currency analyst sites:
DigitalCoinPrice
Analysts at Digitalcoin website believe that CVX digital currency will reach around $5 by the end of this year (2022) and then touch $19 by the end of 2025 with a gentle but continuous upward trend. The DigitalCoinPrice site actually has a positive opinion about the future of cvx digital currency and has evaluated investing in this currency as profitable.
CaptainAltCoin
This site has predicted the short-term downward movement of Convix currency. Captain Altcoin website also states that CVX will fluctuate between $3 and $5 by around November 2023. Despite predicting a downward trend in the coming years, analysts CaptainAltCoin They believe that this downward trend will break from 2024 and will reach $8 by 2025 and then $20 by 2030.
CoinCodex
Unlike other analyst sites that we have mentioned so far in the article, CoinCodex site has a neutral prediction for the future of CVX cryptocurrency. This site says that since we came to a neutral technical analysis from the future review of cvx digital currency, it is likely that Convix Finance currency will remain around its current price of $3 to $4.
We emphasize once again that digital currencies are very unpredictable and all analysis, even the most powerful ones, may fail at a moment. After you have done your research, you can also refer to the CVX currency buying and selling guide to buy this currency and get additional information there.
Convix Finance; Instant income or investment?
The Convix Finance platform and its native digital currency, CVX, are among the most promising currencies in the market with new and unique technologies that it offers to its users. Cash poolstypes of tokens for Earn passive income, Technology Curve All are elements that are seen as positives in predicting the future of CVX cryptocurrency. However, we still have to consider the possibility that the digital currency market does not have a clear account and even the largest and most supported currencies may be brought down by unforeseen problems. We hope this article was useful for you. You can also write your prediction about the future of this currency for us and users and discuss it.
CVX digital currency future post; Convix Finance (CVX) digital currency price forecast for the first time on Wallex Blog. appeared.
