Convex (CVX) surges over 100% in 24 hours, breaking Binance and Bybit volume records
On June 16, Binance reported nearly $32 million in CVX/USDT spot trading volume, a new daily high for the platform. The growth highlights the increased interest and trading activity on Convex.
Likewise, Bybit saw strong trading activity, with CVX/USDT perpetual contracts trading volume reaching $120 million in the same 24-hour period.
This is a significant milestone that highlights the growing demand for CVX in the derivatives market.
CVX’s rapid growth in value and trading volume is indicative of a broader trend in the decentralized finance (DeFi) space, where yield boosters like Convex are gaining traction.
Convex Finance has attracted a lot of attention from the crypto community by increasing rewards to enable users to earn higher returns on Curve Finance assets.
Analysts attribute this growth to a variety of factors including improved market sentiment, strategic partnerships, and Convex’s role in optimizing yield farming strategies.
As more investors seek to maximize returns in the DeFi ecosystem, platforms like Convex are expected to continue to grow.
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