The $CVX Token from Convex Finance has recently made a remarkable comeback in terms of profits, turning the tables from a previous state of losses. Last week, a staggering 99% of $CVX holders were facing losses, but now the token is demonstrating the power of comebacks in the crypto market.
Currently, 36% of addresses holding $CVX are now in profit, with these addresses representing over 90% of the total token supply. This shift has caught the attention of many in the crypto community.
According to reports, $CVX has swiftly recovered following a significant drop in value compared to the previous week. The token had been causing losses for holders, with up to ninety percent experiencing negative returns. However, the recent surge has brought renewed optimism among investors.
In the past twenty-four hours, $CVX has surged by more than 50%, reaching a peak price of $3.70. Convex Finance, which operates Curve Finance, supports liquidity providers in earning higher rewards.
Furthermore, the CVX/USDT token pair has seen a surge in spot trading volume, reaching $32M in a single day, setting a new record. With thirty-six percent of addresses now in profit, holding the majority of the token’s supply, the future looks bright for $CVX.