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Covalent X Token CXT Price

$0.064

-2.69%

$0.062

24h Range

$0.065

Market Cap

$61,816,130.4

Fully Diluted Valuation

$64,032,884.8

24 Hour Trading Vol

$3,188,961.5

Circulating Supply

965,381,000.0

Total Supply

1,000,000,000.0

Max Supply

1,000,000,000.0

Info

CXT Price Statistics

Covalent X Token Price

$0.064

24h Range

$0.062 - $0.065

Percent Change 1h

0.53%

Percent Change 24h

-2.69%

Percent Change 7d

17.07%

All-time high

$0.263

All-time low

$0.046

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About Covalent X Token

What is Covalent X Token (CXT)?

Covalent X Token (CXT) is a utility token designed to enhance the functionality of the Covalent Network, which specializes in providing a comprehensive data layer for blockchain applications. Launched in 2024, CXT enables users to access a plethora of services, such as querying blockchain data seamlessly across various chains. With a focus on interoperability, CXT aims to empower developers and businesses by simplifying data retrieval and management, thus fostering greater adoption of blockchain technology. The total supply of CXT is capped at 1 billion tokens, with a significant portion allocated to community incentives, development, and ecosystem growth.

Who are the Founders of Covalent X Token?

The Covalent X Token was founded by a team of experienced blockchain professionals and entrepreneurs. Among the key figures are Ganesh Swami, who has a background in data engineering and has previously worked with major tech companies; and Aakanksha Kher, who brings extensive experience in product development and blockchain solutions. Together, they founded Covalent with the vision of making blockchain data universally accessible and usable, addressing the challenges developers face when interacting with multiple blockchain networks.

How does Covalent X Token Work?

Covalent X Token operates on a unique architecture that aggregates data from various blockchain networks into a single, easy-to-use interface. Utilizing APIs, CXT allows developers to access detailed blockchain information without needing to interact with each blockchain directly. The token serves multiple purposes within the ecosystem, including:

  • Transaction Fees: CXT tokens are used to pay for fees associated with data queries and transactions within the Covalent Network.
  • Staking: Users can stake CXT to earn rewards and participate in governance decisions regarding the future of the network.
  • Access to Premium Features: CXT holders can unlock advanced functionalities and analytics tools that enhance their data querying capabilities.

This architecture not only simplifies data access but also promotes a decentralized model where users can contribute to the network's growth and integrity.

Top Use Cases of Covalent X Token

Covalent X Token has several key use cases that highlight its value in the blockchain ecosystem:

  • Data Aggregation: CXT enables businesses to aggregate and analyze blockchain data from multiple sources, enhancing their decision-making processes.
  • DeFi Applications: Developers can utilize CXT for building decentralized finance (DeFi) applications that require real-time data feeds on token prices, liquidity pools, and transaction volumes.
  • NFT Marketplaces: CXT can be employed in NFT platforms to fetch details about asset ownership, provenance, and market trends, facilitating smoother transactions.
  • Cross-Chain Solutions: The token supports cross-chain compatibility, enabling seamless interactions between different blockchain ecosystems for improved user experiences.
  • Governance Participation: CXT holders can participate in governance proposals, influencing the direction and development of the Covalent Network.

How to Keep your Covalent X Token Safe?

Keeping your Covalent X Tokens safe involves several best practices common to cryptocurrency security:

  • Use Hardware Wallets: For long-term storage, consider using hardware wallets like Ledger or Trezor, which provide enhanced security against hacks and malware.
  • Enable Two-Factor Authentication: Always enable 2FA on any exchange or wallet service that supports it to add an extra layer of security to your accounts.
  • Keep Software Updated: Regularly update your wallet software and devices to protect against vulnerabilities.
  • Be Wary of Phishing Scams: Always verify the authenticity of websites and links before entering your private keys or seed phrases.
  • Backup Your Wallet: Make sure to keep secure backups of your wallet seed phrases or private keys in multiple locations to prevent loss.

By following these security practices, users can significantly reduce the risk of losing their Covalent X Tokens and ensure a safer crypto experience.

How to Invest in Covalent X Token (CXT)?

Investing in Covalent X Token (CXT) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Covalent X Token: Once your account is funded, you can purchase Covalent X Token directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Covalent X Token (CXT) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Covalent X Token using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Covalent X Token (CXT) in the Long Term?

Covalent X Token (CXT) is currently trading at $0.064 and exhibits good potential for future growth. Check the latest Covalent X Token (CXT) price prediction.

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