CVX (Convex Finance) rose 19.85% in 24 hours.

Gate News Bot message, July 17, according to CoinMarketCap data, as of the time of writing, CVX (Convex Finance) is currently priced at $5.09, with a rise of 19.85% in the last 24 hours, peaking at $5.16 and dropping to a low of $2.93, with a 24-hour volume reaching $102 million. The current market capitalization is approximately $501 million, an increase of $83 million compared to yesterday. CVX currently ranks 125th in global Crypto Assets market capitalization.

Convex Finance is a protocol focused on enhancing liquidity mining yields on platforms such as Curve, Frax, and f(x) Protocol. Users can deposit liquidity on Convex to receive enhanced rewards from these platforms. Convex achieves yield enhancement by controlling a large amount of veCRV, veFXS, and veFXN. Locking CVX tokens allows participation in the governance of Curve, Frax, f(x) Protocol, and Convex itself. Convex's smart contracts are immutable, non-custodial, and have been peer-reviewed and audited by a third-party auditing company.

Important recent news about CVX:

1️⃣ DeFi Token Index Significant Rise CVX, as one of the main DeFi coins, has shown strong performance recently. The market's expectations for friendly policies towards Crypto Assets have driven the entire DeFi sector to rise, and the CVX price has significantly pumped.

2️⃣ Liquidity Mining Yield Enhancement Convex Finance continues to optimize its liquidity mining strategies on platforms such as Curve, Frax, and f(x) Protocol, providing users with higher returns. This has attracted more investors to participate in the CVX ecosystem, driving an increase in token demand.

3️⃣ Governance participation increase With the DeFi market warming up, more users are choosing to lock CVX tokens to participate in the governance of Curve, Frax, f(x) Protocol, and Convex itself. This trend increases the scarcity of CVX, providing support for its price.

From a technical perspective, CVX has broken through recent resistance levels, but it remains to be seen whether it can hold above the $5 mark. On the fundamental side, Convex Finance's leading position as a DeFi yield aggregator is expected to be further solidified as the market recovers.

This message is not an investment advice; investors should be aware of market volatility risks.