Overview $CVX

CVX/USDT has experienced a significant drop of -21.01%, currently trading at $3.952. Ranked 169th globally, CVX is the governance token of Convex Finance, a DeFi protocol that enhances rewards for Curve liquidity providers and stakers. This dip might present an opportunity for both short-term traders and long-term investors.

Key Metrics

Market Cap: $380.67M

Fully Diluted Market Cap: $391.64M

Market Dominance: 0.0117%

24H Volume: $60.94M

Vol/Market Cap Ratio: 16.01%

Circulating Supply: 97.01M CVX

Total Supply: 99.81M CVX

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Historical Highlights

All-Time High (ATH): $62.6882 (January 1, 2022)

All-Time Low (ATL): $1.4333

Launch Details:

Issue Date: May 17, 2021

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📊 Spot Trading Strategy

1️⃣ Entry Zone: $3.80 - $4.00

2️⃣ Targets:

Short-term: $4.50

Mid-term: $5.00

Long-term: $6.50

3️⃣ Stop-Loss: $3.50

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📉 Futures Trading Strategy

1️⃣ Leverage: Use 3x-5x leverage for balanced risk.

2️⃣ Entry Zone:

Long: Between $3.80 - $4.00.

Short: Between $4.50 - $5.00.

3️⃣ Targets:

First Target: $3.30

Second Target: $3.00

Third Target: $2.75

4️⃣ Stop-Loss: $4.10 for long positions and $5.10 for short positions.

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🔑 Risk Management

Spot Allocation: Use 60%-70% of your capital for spot trades.

Futures Allocation: Reserve 30%-40% for futures trades, adhering to strict stop-loss rules.

Capital Preservation: Avoid over-leveraging and ensure that no more than 5% of your portfolio is exposed to any single trade.

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💡 DCA (Dollar-Cost Averaging)

Gradually invest using the DCA approach:

Allocate $300 in three parts, investing at price levels $3.80, $3.50, and $3.20.

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📈 Why CVX on This Dip?

1. Undervalued Opportunity: Trading significantly below its ATH of $62.68, CVX offers an attractive entry point for long-term investors.

2. DeFi Growth: Convex Finance plays a vital role in enhancing DeFi yield farming, making CVX a token with strong fundamentals.

3. Increasing Volume: The high Volume/Market Cap ratio (16.01%) signals renewed interest and potential volatility for traders to capitalize on.

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🛡️ Disclaimer

This content is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly speculative and carry significant risks. Always conduct your own research before making any investment decisions.