Is a credible crypto analyst keep an eye out to a super fast moving altcoin that he believes has the potential to explode 10x or more in the current bull market. He explained:
“I’m looking for at least a 10-fold uptrend for CVX versus current levels in this bull market – and this remains a level of caution. The APR obtained from the CVX lock is now well over 50%.
CVX has quickly become one of my favorite projects and one of my biggest holdings. “
Convex Finance is a protocol that enables liquidity providers on Curve Finance’s decentralized exchange (DEX) to earn trading fees and other rewards without having to lock up CRV – the token that powers the exchange.
Credible Crypto also shared a diagram from the Ethereum (ETH) analytics platform Nansen, which shows that large investments are flowing into CVX from the wallet of the digital asset investment company Blocktower Capital.
The source: Nansen
During the week, CVX outperformed other key players in the decentralized finance (DeFi) space, including Ethereum, Solana (SOL) and Aave (AAVE). It’s up 33% in the past seven days and CVX is trading at $ 11.03, 503% more than its low three months ago but still 45% less than its all-time high of $ 20.89.