3 reasons why Convex Finance surged 215% in December to hit new all-time high
Convex Finance saw its token price and total value locked hit all-time highs following several prominent exchange listings and the addition of support for new assets. The growth of the stablecoin sector within crypto has been one of the most impactful developments of 2021. In particular, stablecoins became integral to the expanding decentralized finance (DeFi) ecosystem as their total value eclipsed $162 billion, according to CoinMarketCap.One project that has seen its token price surge thanks to its focus on stablecoins and the Curve Finance (CRV) ecosystem is Convex Finance (CVX), a....
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The total value locked (TVL) in decentralized finance (defi) has risen 4% during the first four days of the new year from $245 billion on January 1, to $255.84 billion three days later. While the defi protocol Curve Finance dominates with a TVL of $24.44 billion, Convex Finance is closing in on the dominance with $21.27 billion. Meanwhile, out of several blockchains, Ethereum dominates the defi TVL with 62.91% or $160.96 billion out of the aggregate $255.84 billion locked today.
Defi TVL Increases 4% During the First 4 Days of 2022
Money is flowing back into decentralized....
Falling Ethereum gas fees, the launch of Convex Finance and the DeFi sector reaching a potential bottom back CRV’s impressive 150% rally since May 23. DeFi tokens and protocols took a heavy hit on May 19 as Bitcoin price dropped to $30,000 and while BTC has entered what some analysts describe as a 'compression' phase, the total value locked in DeFi and the value many of the sector's tokens have yet to rebound to the levels seen before the market crash. Curve DAO token (CRV) stands among the few DeFi tokens that have seen a strong recovery over the past two weeks due to reduced Ethereum gas....
Both Yearn and Convex rely heavily on Curve, but that doesn't necessarily mean the two are in competition. While much of the market reels from a devastating pullback that has dragged DeFi’s closely-watched total value locked (TVL) figure down from all time highs, one protocol is shrugging off the macro weight and surging up the TVL leaderboard. Ethereum-based Convex Finance ($CVX) cracked a billion dollars in TVL earlier today, rising as high as $1.14 billion and briefly cracking the top-20 by size, per DeFilama. 2 weeks, 3 commas. $1,000,000,000+ TVL pic.twitter.com/NDOVabZB11—....
CVX was the biggest crypto gainer to start the week, as both DASH and ALGO also climbed higher. Despite ALGO rising to its highest level in over three weeks, gains in DASH and CVX were more noticeable. This came as APE once again traded in the red. Convex Finance (CVX) Convex finance (CVX) was Monday’s biggest gainer, as the world’s 77th largest cryptocurrency rose by as much as 15% to start the week. Following a low of $17.90 on Sunday, CVX climbed to an intraday high above $21.56 on Monday, as prices hit a ceiling. Today’s move was the highest level CVX has traded....
Yearn.finance (YFI), the darling of the decentralized finance (DeFi) market, has surged 21% on the day. It is continuing to show strong momentum following a DeFi marketwide resurgence. There are several reasons behind the recovery of YFI. First, the project has announced major product updates and partnerships. Second, the DeFi market’s rebound is causing major […]