Covalent X Token Price
(CXT)
USD($)
Covalent X Token (CXT) Live Price Chart
Overview
About
Analysis
FAQ
Covalent X Token Live Price Data
The live price of Covalent X Token is $0.13238, with a total trading volume of $ 358,828 in the last 24 hours. The price of Covalent X Token changed by +6.17% in the past day, and its USD value has increased by +19.23% over the last week. With a circulating supply of -- CXT, the market cap of Covalent X Token is currently -- USD, marking a --% increase today. Covalent X Token currently ranks #-- in market cap.
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Note: This data is for reference only.
Covalent X Token(CXT) Profile
Rank--
--Expand 
Website
Documentation
Explorer
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Contract
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Audited By
- https://www.datocms-assets.com/86369/1714234447-quantstamp-covalent-audit-final-report.pdf
- https://www.datocms-assets.com/86369/1714234453-covalent-audit-report-1709327077.pdf
Code & Community
Investors
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$0.11608
$0.13729
- ATH
- $0.16256
- Price Change (1h)
- +0.89%
- Price Change (24h)
- +6.17%
- Price Change (7d)
- +19.23%
- Market Cap
- --
- 24h Volume
- $358,828
- Circulating Supply
- --
- Max Supply
- 1B
About CXT
How can I buy Covalent X Token (CXT)?
Buying CXT on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Covalent X Token (CXT) for more information. What Is Covalent X Token (CXT) Crypto?
Covalent X Token (CXT) is the native token of the Covalent Network. This token plays a key role in the network's decentralized long-term data availability services. CXT is used primarily for staking and governance. You can stake CXT to support the network, and in return, you earn rewards. Additionally, you can use CXT to vote on important network proposals.
Covalent is transitioning from its previous token, CQT, to CXT to better align with its mission of enhancing modular data infrastructure and AI capabilities. This migration involves automatic conversion of CQT to CXT for all holders.
How Does Covalent X Token Work?
Covalent X Token (CXT) is the native token of the Covalent Network, used for various functions within the network. Here's how it works:
1. Staking: You can stake CXT to help secure the network. By staking, you support network operators who validate data and perform other crucial tasks. In return, you earn rewards in CXT.
2. Governance: Holding CXT allows you to participate in governance decisions. You can vote on proposals that affect the network's operations and future developments.
3. Payment for Services: When developers use Covalent's API to access data, they pay in stablecoins like USDC. The network then buys CXT with these stablecoins, increasing the demand for CXT. This CXT is distributed as rewards to nodes providing the data.
4. Migration from CQT: Covalent transitioned from its previous token, CQT, to CXT. Existing holders of CQT received an equivalent amount of CXT during the migration process.
History of Covalent X Token (CXT) Coin
Covalent X Token (CXT) is the native token of the Covalent Network, launched on July 10, 2024. The founders of Covalent are Ganesh Swami and Levi Aul. They aimed to create a comprehensive data infrastructure for the blockchain ecosystem.
The token replaced Covalent's previous token, CQT, following a successful governance vote. All existing CQT tokens were automatically converted to CXT at a 1:1 ratio. The migration included updating staking contracts and governance processes to use CXT.
Covalent's roadmap focuses on scaling across multiple blockchains and expanding into new markets. The goal is to provide accessible and verifiable data to developers and users. The roadmap includes enhancing the network's data capabilities and promoting decentralization.
Covalent's vision for 2025 includes removing barriers to data access, supporting more chains and dApps, and fostering an inclusive ecosystem. The company secured $5 million in funding from RockTree Capital to support these initiatives.
What Is CXT Token Used for?
Covalent X Token (CXT) is used primarily for three main purposes within the Covalent Network:
1. Staking: You can stake CXT to secure the network. By staking, you support network operators who validate data and perform essential tasks. In return, you earn rewards in CXT. This process helps maintain the integrity and security of the network.
2. Governance: Holding CXT allows you to participate in governance decisions. You can vote on proposals that affect the network's operations and future developments. This gives you a say in the direction of the Covalent Network.
3. Payment for Services: When developers use Covalent's API to access data, they pay in stablecoins like USDC. The network then uses these stablecoins to buy CXT, which is distributed as rewards to nodes providing the data. This creates demand for CXT and ensures that data services are funded and maintained efficiently.
4. Settling Data Queries: Besides staking and governance, CXT is used for settling data queries. When developers use the Covalent API, they pay in stablecoins, which are then converted to CXT and distributed as rewards to network nodes.
5. Trade CXT on KuCoin: Trade Covalent X Token against other cryptocurrencies on the KuCoin Spot Market after doing your own research (DYOR). Based on your investment goals and risk tolerance, you can buy, sell, or HODL $CXT in your portfolio.
What Is Covalent X Token Tokenomics?
The total supply of CXT is 1 billion tokens. The token allocation includes several categories: Seed, Private Sale, Public Sale, Team, Advisors, Reserve, Staking, and Ecosystem. Each category has specific vesting schedules to ensure gradual release and long-term sustainability.
Covalent X Token (CXT) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $0.00897 | 7.27% |
| 7 Days | $0.02135 | 19.23% |
| 30 Days | $0.06718 | 103.05% |
| 3 Months | $0.04996 | 60.61% |
24H Investment Barometer
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Covalent X Token Conversion Rate
FAQ
How much is 1 Covalent X Token (CXT) worth?
KuCoin provides real-time USD price updates for Covalent X Token (CXT). Covalent X Token price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time CXT to USD exchange rates. Is Covalent X Token (CXT) a Good Investment?
Investing in CXT means supporting a project with a clear roadmap, strong community involvement, and robust staking and governance mechanisms:
1. Staking Rewards: You can stake CXT to earn rewards. Validators and delegators earn yield, historically ranging from 8% to 18% APR. This provides a steady income stream for token holders.
2. Governance Participation: Holding CXT allows you to participate in network governance. You can vote on proposals that influence the network's direction and operations, giving you a say in its future development.
3. Data Query Payments: Developers pay for data queries using stablecoins, which are converted to CXT. This creates constant demand for the token, driving its value and liquidity.
4. Security and Audits: CXT has undergone audits by Quantstamp and Hacken, ensuring a secure and robust infrastructure for your investment.
5. Long-term Vision: Covalent’s roadmap includes significant expansions and innovations, such as scaling across multiple blockchains, introducing Olympic Light Clients, and launching Liquid Staking. These initiatives aim to enhance the network's capabilities and broaden its user base.
6. Community and Ecosystem Growth: Covalent is committed to building a unified and inclusive ecosystem. Their 2025 vision focuses on making data accessible and verifiable, fostering a supportive community of users and developers.
What Is Covalent X Token Price Prediction?
Several factors influence the price of Covalent X Token (CXT):
1. Market Demand and Supply of CXT Tokens: The price of CXT is heavily influenced by its demand and supply in the market. High demand and limited supply typically drive prices up, while low demand and high supply can lead to drops in the Covalent X Token price.
2. Staking Rewards: The ability to stake CXT and earn rewards can attract more investors, increasing demand for the token. Higher staking rewards can positively impact the CXT token price.
3. Network Utilization: As more developers and users utilize Covalent’s API and pay for services in stablecoins converted to CXT, the demand for the token increases, potentially raising its price. The more the network is used, the greater the demand for CXT, supporting the CXT to USD price.
4. Market Sentiment: General market sentiment and investor perceptions can significantly impact the CXT price. Positive news, partnerships, or technological advancements can boost sentiment and drive prices up, while negative news can have the opposite effect.
5. Liquidity and Trading Volume: Higher liquidity and trading volume can make it easier to buy and sell CXT, which can help stabilize the CXT crypto price. Conversely, low liquidity can lead to more price volatility.
6. Governance Decisions: Decisions made through the governance process, such as changes to the staking rewards or network upgrades, can affect investor confidence and influence the CXT coin price.
How to Stake CXT Tokens on Covalent Network
Staking CXT helps secure the network and allows you to earn rewards based on your staked amount and the performance of the chosen Network Operator. To stake Covalent X Token (CXT) on the Covalent Network, follow these steps:
1. Connect Your Wallet: Navigate to the Covalent Network Staking Dashboard. Connect your wallet to the Ethereum Mainnet. If you need assistance, you can find documentation on connecting your wallet.
2. Choose a Network Operator: Once your wallet is connected, you will see a list of Network Operators. Each operator has details such as their staked amount, commission rate, Annual Percentage Yield (APY), and available delegation room.
3. Stake Your Tokens: Select a Network Operator based on their commission rate and available delegation room. Click on "Stake" and enter the amount of CXT you wish to delegate. You will need to approve the contract interaction with your wallet and then confirm the staking transaction.
4. View and Manage Stakes: After staking, you can view your staked position on the dashboard. You can also top up your staked amount by selecting the "Top Up" option.
5. Redeem Rewards: Rewards can be redeemed immediately without a cooldown period. Navigate to the "Available to Redeem" section, choose the amount to redeem, and confirm the transaction to receive your rewards.
6. Unstake Tokens: If you wish to unstake your tokens, there is a cooldown period of 14 days for delegators. Select the "Unstake" option, specify the amount to unstake, and confirm the transaction. After the cooldown period, you can transfer the unstaked CXT back to your wallet.
What is the all-time high price of Covalent X Token (CXT)?
The all-time high price of Covalent X Token (CXT) is $0.16269. The current price of CXT is down 18.57% from its all-time high.
What is the market cap of Covalent X Token (CXT)?
The current market cap of CXT is $1.23M. It is calculated by multiplying the current supply of CXT by its real-time market price of $1.23M.
How do I store Covalent X Token (CXT)?
You can securely store your Covalent X Token in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your CXT include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Tron (TRX) to cash?
You can instantly exchange your Tron (TRX) for cash using KuCoin's Fast Trade feature. This feature enables you to convert TRX to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.