A DeFi mechanism called Convex Finance enables Curve liquidity providers to get a share of the platform’s trading fees without staking any liquidity. Instead, LPs can invest with Convex to profit from higher CRV and liquidity mining. As a result, CRV investors’ capital efficiency is increased, and Convex Finance is now seen as a major participant in the Curve Wars.
Convex has begun a battle for supremacy over the Curve Finance stablecoin exchange. A protocol’s influence on interest rates on Curve, the biggest DEX in the world by TVL, increases with the number of CRV tokens it possesses. The “Curve wars” are a never-ending struggle for control of possibly DeFi’s most important protocol as a result.
Prices
The CVX token performed well in the initial weeks after its introduction in April 2021, increasing 203% from its launch price of $6.1921 to $18.77 on June 2, 2021. However, the bullish momentum did not last for very long. On July 20, 2021, the token’s value dropped to an all-time low of $1.8823, a fall of 89.98%.
Convex Finance’s value continued to decline even though it had a total value locked (TVL) between $3.5 billion and $4 billion for over a month and was getting close to the $5 billion mark at the beginning of August.
By October 23, 2021, Convex Finance’s TVL will have surpassed $12 billion. The price of the CVX token increased by 44% from mid-September to $20.86 on October 24. In the months that followed, its value gradually increased until it reached a peak of $40.37 on November 10, 2021.
However, the price of the CVX token dropped 36% in the days before Convex Finance’s November update, down to $25.75 on November 30.
The most recent statistics show that Convex Finance is now trading at $4.02 and that CVX is ranked 97th overall in the cryptocurrency ecosystem. The market value of Convex Finance is 78,805,978 CVX, and its current circulating supply is $316,517,606.72. Convex Finance is now trading at $ 3.3907552 per (CVX / USD) with a market size of $ 263.97M USD. The 24-hour trading volume is $9.65 million USD. The CVX to USD exchange rate is updated in real time. Convex Finance has dropped by -11.13% in the previous 24 hours. It has a circulating supply of 77.85 million US dollars.
The cryptocurrency’s current value has grown by $0.06 in the last 24 hours. CVX has been on a solid rising trend for the previous 7 days, growing by 1.57%. Convex Finance has recently demonstrated exceptional potential, and this might be an excellent time to get in and invest. CVX’s price has risen by 16.31% in the previous month, adding a massive average of $0.66 to its present worth.
Notes
- The current Convex Finance price is $4.3 USD, according to our real-time CVX to USD price update.
- According to our most current Convex Finance price estimate, its value will rise by 4.13% to $4.29 by July 15, 2023.
- On Convex Finance, our technical indicators indicate a Neutral Bullish 50% market attitude, while the Fear & Greed Index shows a score of 57 (Greed).
- Convex Finance has seen 14/30 (47%) green days and 7.12% price volatility in the last 30 days.
Analysis
According to our technical indicators, Convex Finance’s 200-day SMA will climb in the coming month and reach $ 4.84 by August 13, 2023. Convex Finance’s 50-Day Simple Moving Average (SMA) is expected to reach $ 4.11 by August 13, 2023.
The momentum oscillator Relative Strength Index (RSI) is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). The RSI score is currently 64.23, indicating that the CVX market is in a neutral state.
Convex Finance has support levels of $ 4.07, $ 3.89, and the strongest at $ 3.79 based on today’s traditional pivot point (P1) of $ 4.16. Convex Finance resistance levels are also $ 4.35, $ 4.44, and $ 4.62.
On Daily Chart
The Moving Averages Convergence Divergence (MACD) indicator for Chevron Corp (CVX) is 0.15, indicating that the stock is a sell.
Chevron Corp’s (CVX) 20-Day exponential moving average is 156.02, and the share price is $157.51, indicating a Buy.
Chevron Corp’s (CVX) 50-Day exponential moving average is 157.04, and the share price is $157.51, indicating a Buy.
On Weekly Chart
The Moving Averages Convergence Divergence (MACD) indicator for Chevron Corp (CVX) is -2.07, indicating that Chevron Corp is a Buy.
Chevron Corp’s (CVX) 20-Day exponential moving average is 159.05, while the share price is $157.51, indicating a Buy.
Chevron Corp’s (CVX) 50-Day exponential moving average is 157.14, and the share price is $157.51, indicating a Buy.
Indicators:
The Relative Strength Index (RSI) for Chevron Corp (CVX) is 50.02, indicating a Neutral signal.
The Trend Strength Indicator (ADX) for Chevron Corp (CVX) is 16.85, indicating a Buy signal.
The Commodity Channel Index (CCI) for Chevron Corp (CVX) is -31.60, indicating a Neutral signal.
The Price Rate of Change (ROC) for Chevron Corp (CVX) is -1.20, indicating a Sell signal.
Prediction
According to our current Convex Finance price projection, the price will fall by -7.22% and hit $ 3.94 by July 19, 2023. Our technical indicators indicate that the present attitude is Bearish, with the Fear & Greed Index reading 60 (Greed). Convex Finance had 15/30 (50%) green days in the previous 30 days, with 7.13% price volatility. According to our Convex Finance prediction, now is not the time to acquire Convex Finance.
Price forecast for Convex Finance in 2025
Convex Finance’s price projection for 2025 is now between $ 8.25 to $ 33.17 on the low end. Convex Finance might gain 687.37% by 2025 compared to today’s pricing if CVX meets the highest price objective.
Price forecast for Convex Finance in 2030
Convex Finance’s 2030 price projection is now between $ 23.69 on the low end and $ 29.98 on the high end. Convex Finance might gain 611.74% by 2030 compared to today’s pricing if it meets the highest price objective.
