Wednesday, September 28

3 Reasons Convex Finance Gained 215% In December To A New All-Time High By CoinTelegraph

© Reuters. 3 reasons why Convex Finance jumped 215% in December and hit a new all-time high

The growth of the stablecoin sector within cryptocurrencies has been one of the most shocking events of 2021. In particular, stablecoins became an integral part of the expanding decentralized finance (DeFi) ecosystem, as their total value exceeded $ 162 billion, according to CoinMarketCap.

One project that has seen the price of its token rise thanks to its focus on stablecoins and the Curve Finance (CRV) ecosystem is Convex Finance (CVX), a protocol that aims to help users boost CRV stakes. to maximize returns.

Data from Cointelegraph Markets Pro and TradingView show that since hitting a low of $ 18.79 on December 4, the price of CVX soared 215% to set a new all-time high of $ 60.22 on December 27. During the same period, its 24-hour trading volume went from an average of $ 20 million to more than $ 163 million.

Read the full article on Cointelegraph

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