The PENGU Spot ETF is the first NFT-based crypto ETF application, as Canary Capital aims to merge NFTs and DeFi—will the SEC approve this groundbreaking move

January 2024 marked a pivotal point in the crypto industry: the US Securities and Exchange Commission (SEC) approved a bunch of 

 (ETFs) after a decade of resisting it. Later that year, several Ethereum (ETH) Spot ETFs were also approved. These early successes encouraged investment funds focused on digital assets to seek approvals for other 

 (AVAX) and other high-cap cryptos have ended up on the SEC's desk in recent months.

Until Mar 20, 2025, one thing had never occurred: an 

-based crypto ETF application. Such a move was thought to border on impossibility, given how stringently and at length the SEC evaluated ETF applications even for established fungible cryptos. And yet, the Canary Capital investment manager submitted an application to the SEC for approval of the first NFT-focused crypto ETF product, the PENGU Spot ETF, triggering a mini-revolution in the emerging space at the junction of crypto and traditional finance.

If approved, this ETF will be the first of its kind in the industry, based on a mix of 

. Many observers expect Canary Capital to struggle mightily for SEC endorsement of its revolutionary product. Nevertheless, the SEC now has a track record of approving crypto ETFs — which raises hopes for both the altcoin ETFs mentioned above and the PENGU Spot ETF application.

The PENGU Spot ETF is a proposed exchange-traded fund (ETF) product introduced by the Canary Capital investment management firm, and is currently awaiting approval by the SEC. 

 on Mar 20, 2025, making this the first crypto ETF product with an NFT component that’s vying for the approval of America's primary financial regulator. The ETF has been registered in the US state of Delaware.

The Pengu Spot ETF's portfolio is envisioned as consisting primarily of PENGU tokens that will make up anywhere between 80% and 95% of total assets held, with the rest allocated to Pudgy Penguins NFTs. Small portions of Solana's SOL coins and Ethereum's ETH tokens will also be included in order to facilitate transactions and liquidity support, as PENGU tokens are mainly issued on the Solana blockchain, and Pudgy Penguins NFTs are an Ethereum-based collection. 

Since Canary Capital will hold these assets and periodically rebalance the portfolio, gas fee payments on Solana and Ethereum will apply, with fees paid in SOL and ETH, respectively.

Launched in 2021 on Solana, the Pudgy Penguins NFT collection consists of 8,888 items, each depicting a cute penguin with a distinct combination of five different traits. In December 2024, the project introduced a related fungible cryptocurrency, the Ethereum-based PENGU token. As of Apr 2, 2025, PENGU is a smaller-cap asset, ranked 191st in the crypto market, with a total 

 of $319 million. In contrast, Pudgy Penguins are among the leading projects in the NFT space, ranked second among all NFT collections, with a market cap of $155 million.

Canary Capital's application to the SEC is unique in two ways: it’s the first ETF with an NFT component, and it marks the first time ETF approval has been sought for a relatively smaller-cap cryptocurrency, PENGU, which isn’t even among the top 100 crypto assets by market cap. All of the other crypto ETF applications approved by the SEC (or currently vying for approval) are based on high-cap, leading assets that are typically ranked within the top 30.

As of Apr 2, 2025, the SEC has had the application for the PENGU Spot ETF application for just two weeks. The regulator has up to 240 days to review such applications, although historically, the SEC has pondered over crypto ETF applications for years. Now, however, the string of Bitcoin and Ethereum Spot ETF approvals in 2024 raises hopes that newer submissions may be subject to an already established evaluation framework — and thus greenlighted much faster.

At the moment, the SEC is also considering spot ETF applications for several high-cap cryptocurrencies, including Dogecoin, Solana, Polkadot, 

 (XRP). If the regulator decides to approve the applications in batch mode — all or several at once — Canary Capital will have reason to hope that its ETF is included.

However, there's been skepticism regarding the PENGU Spot ETF application, with some analysts believing that its chances might differ from those of the larger, more established altcoin ETFs. This isn't surprising, as a PENGU Spot ETF would be a distinct product, being the first NFT-focused ETF. In addition, NFTs have more limited liquidity than fungible cryptocurrencies. 

NFTs may also be harder to valuate objectively. The prices of fungible cryptos are easily sourced from the crypto market, where supply and demand establish their value. In contrast, the limited liquidity and uniqueness of NFTs makes it much harder to price them efficiently.

Moreover, the PENGU token — which will make up most of the proposed ETF — isn't among the most traded assets in the crypto market. Because PENGU has a modest position in the crypto space (along with its origins as a 

), the SEC could view it with more skepticism than it does the leading altcoins.

Naturally, all these factors are just speculation at this point, and we’ll need to wait on the SEC’s initial comments regarding the first NFT-based ETF under their consideration in order to form a more defined view of the product's prospects for approval.

Current impact of the PENGU Spot ETF application on the crypto market

The news of the PENGU Spot ETF application has so far had no appreciable impact on the price of the PENGU token itself. On the day of the application (Mar 20, 2025), the token was trading at around $0.007. Two weeks later, it's still hovering around the same price. 

On the other hand, there's been a modest increase in the average price of Pudgy Penguins NFTs traded on the market: between March 20 and 28, the average price rose by 16% from around $16,450 to $19,120, though it has since retraced slightly to $17,490 as of Apr 2.

Given the modest price effect, investors are likely still cautious about the chances for the PENGU Spot ETF's approval.

However, if it is approved, the broader impact on the crypto market could be far-reaching, as such a step would signify the SEC's openness to both NFT-based ETFs, and ETFs made up of smaller-cap cryptocurrencies, including meme coins. The number of tokenized asset funds that offer NFT-based products would then be likely to increase significantly, facilitating mainstream NFT adoption within traditional financial markets.

An SEC approval of the PENGU Spot ETF may lead to a flurry of further ETF applications based on NFTs in some form. This could even include the first ETFs composed entirely of NFTs. Other crypto asset types — e.g., 

 (RWAs) — may also become candidates for the SEC’s consideration. Furthermore, in the unlikely event that Canary Capital’s PENGU Spot ETF were to be approved ahead of the altcoin spot ETFs currently in the SEC’s pipeline, it would send a very strong signal that those ETF applications are also a sure bet.

The current PENGU Spot ETF application is a pioneering event that may open up opportunities for NFT ETFs and other crypto ETFs based on partial NFT holdings. Although the SEC approved multiple Bitcoin Spot ETFs in early 2024, few people expected an NFT-based ETF to emerge so soon afterward. Probably even fewer expected a meme coin–based ETF to be taken seriously by the SEC. Unique in so many ways, the PENGU ETF flips the entire concept of traditional ETFs on its head.

Canary Capital's attempt to get approval for an NFT-backed ETF is truly a bold undertaking, though observers said the same thing about 

 just a few years ago. Someone needed to become a trailblazer in this area — and Canary Capital has taken up the noble role without hesitation. Now, all eyes are on the SEC as it prepares to weigh in on a product it has never before encountered.

Intermediate

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PENGU Spot ETF: A bold move for NFT investing — or just hype?

In this article, we break down what to expect from Liberation Day and how it could shape the outlook for equities, the US economy and crypto markets.

 April 2, 2025 as "Liberation Day" — a moment he claims will restore America's trade fairness through sweeping reciprocal tariffs. With few concrete details confirmed, global markets remain on edge. Investors are bracing for the economic fallout of a potential trade war, and crypto traders are watching closely to assess the impact on digital assets. In this article, we break down what to expect from “Liberation Day” and how it could shape the outlook for equities, the US economy and crypto markets.

Since returning to the White House in January 2025, President Trump has prioritized reshaping US trade policy with a renewed focus on tariffs. His administration has already announced 

 on all steel and aluminum imports. Many of these actions take effect this week, coinciding with his so-called Liberation Day.

Trump argues that tariffs are a necessary tool to reduce the US trade deficit and force foreign nations to stop what he calls "economic warfare" against the American worker. Treasury secretary Scott Bessent 

 countries with persistent trade surpluses — dubbed the 

 — as primary targets for reciprocal tariffs. These include China, the EU, Canada and Mexico.

However, critics point to the growing risk of a global trade war, with multiple partners already threatening or initiating retaliatory measures. Goldman Sachs recently 

, citing declining business confidence and mounting economic uncertainty. The tariffs, designed to protect US industries, could instead raise prices and weigh on consumer spending.

What to expect from Trump's ‘Liberation Day’ announcement

Trump is expected to reveal his tariff plans in a Rose Garden press conference on April 2. White House press secretary Karoline Leavitt 

 that the president would impose tariffs on "any country that has treated the American people unfairly" — though no nation-specific exemptions have been confirmed. Trump has promised these reciprocal tariffs will be 

While final details remain under wraps, proposals have included both country-wide and sector-specific tariffs. These could range from uniform, percentage-based levies to targeted charges on industries like pharmaceuticals, semiconductors and autos. Trump's advisers, including Trump trade adviser Peter Navarro and commerce secretary Howard Lutnick, claim the new tariffs could generate over $600 billion annually — though many economists dispute this figure.

Delayed tariffs on Canadian and Mexican imports, 

 in early March, are also set to take effect this week. These include taxes on agricultural products, energy goods and automotive components. Trump has also 

 a 25% tariff on imports from countries that purchase oil or gas from Venezuela.

Given the administration's conflicting signals in recent weeks, there's a wide range of potential outcomes. Whether “Liberation Day” ushers in immediate enforcement, additional delays or future negotiation rounds remains to be seen. For now, uncertainty reigns.

Potential impact on the US economy and global markets

Economists warn that broad-based tariffs could lead to slower US growth, higher consumer prices and widening inequality. Goldman Sachs now 

 Trump's trade policies to reduce annual GDP growth to 1.5% from 2%, while the odds of a recession are being raised from 20% to 35%.

Global equity markets have already shown signs of stress. European and Asian indices dipped ahead of “Liberation Day,” while the S&P 500 and Nasdaq-100 

 in March (respectively). Auto manufacturers, tech firms and retailers could be especially vulnerable if tariffs disrupt global supply chains.

There's also the question of the Federal Reserve's response. With inflation risks rising, policymakers may hold off on anticipated rate cuts, further complicating the economic outlook heading into Q2.

How will ‘Liberation Day’ affect the crypto industry?

Crypto markets have mirrored broader risk sentiment over the past quarter, with investors reducing exposure amid macroeconomic turbulence. As of April 1, the 

 is down 16.9% year-to-date. Bitcoin has fallen 10.48%, Ethereum 44.2% and Solana 33% — despite reaching new highs in January on hopes for pro-crypto policies from the Trump administration.

Investor optimism has since cooled as recession risks, inflation concerns and policy unpredictability drive a risk-off mood. Bitcoin dipped to $81,656 over the weekend, marking its weakest Q1 since 2018. Traders remain cautious ahead of “Liberation Day,” awaiting clarity before opening new positions.

“Liberation Day” could further weigh on crypto prices if market volatility increases and capital rotates out of risk assets. However, some analysts believe any resulting sell-off may offer an opportunity to 

 — especially if Trump follows through on crypto-friendly regulation later this year. For now, though, many eyes are on April 2.

With details still unknown, the crypto market remains in a "wait-and-see" phase. “Liberation Day” could mark a turning point — for better or worse — depending upon the scope and execution of Trump's tariff agenda.

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Trump's 'Liberation Day': What it means for crypto markets

Grayscale has filed to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). 

Daily top performer — Compound Finance (COMP)

The S&P 500 rose 0.38% as investors awaited new tariffs amid weak factory data and declining job openings. Gold eased to $3,113 after hitting a record high, driven by profit-taking ahead of Trump's tariff announcement, but remains strong due to safe-haven demand and economic uncertainties. The Coindesk Indices, which tracks the broader crypto market, are up by 1.30%, with Bitcoin and Ether are up 3.10% and 5.19%, respectively, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is COMP, up 14.3%, following the proposal for the creation of a foundation to ensure consistent leadership and coordination by Compound.

Compound Finance (COMP), launched in September 2018, is a DeFi lending platform that allows users to earn interest on crypto assets. Built on smart contracts, it adjusts interest rates based on supply and demand, connecting lenders and borrowers without intermediaries. In June 2020, Compound decentralized with the launch of COMP and full governance transfer. However, it lacks a core operational pillar. With Compound v4 development and increased community engagement, the need for consistent leadership has grown. To address this, Compound Labs 

 creating a Compound Foundation for structure, clarity, and coordination, similar to other ecosystems like Uniswap.

Check out the latest prices, charts, and data of 

 to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). The fund, which currently holds 79.4% Bitcoin and 10.69% Ethereum, has grown by 478.83% since its launch in 2018. The conversion would allow everyday investors to access the crypto market, covering about 75% of the digital asset market cap. If successful, it would eliminate the current barrier that restricts access to accredited investors. The filing is still in progress, with management fees and other details pending.

Yesterday, BTC spot ETF had a total outflow of $157.8 million, with GBTC seeing a loss of $10.1 million and non-GBTC products losing $147.7 million.

 that its airdrop might be approaching, with a claim page now live. Registration for the airdrop runs from April 2 to April 17, and claims are expected to open on April 22. However, nothing has been officially confirmed yet. Stay tuned for updates.

Beginner

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Grayscale files to convert digital large cap fund into publicly accessible crypto ETF

In this guide, we'll dive into how to trade crypto with the Bybit app, a convenient and feature-rich platform. Explore spot and derivatives trading for beginners on the Bybit app.

Welcome to our step-by-step guide on trading using the Bybit app. In this article, we’ll walk you through everything you need to know — from downloading the app and setting up your account to executing spot, margin and derivatives trades. Bybit is a leading cryptocurrency exchange that offers a fully localized and user-friendly mobile experience, making it easy for both beginning and seasoned traders to manage their investments seamlessly.

First, download the Bybit app from the App Store (iOS) or Google Play (Android). Once you’ve installed the app, open it and select your preferred language.

 and register using your email address or phone number. Complete the verification process by submitting your mainland Chinese ID or passport as required. This step is crucial to ensure your account is secure, and to unlock higher withdrawal limits.

After verifying your identity, head over to the 

 tab to fund your account. You can directly deposit cryptocurrencies like BTC or USDT. Our 

 (UTA) streamlines fund management, allowing you to trade seamlessly across different markets without the hassle of multiple wallets.

Spot trading with Bybit lets you buy or sell cryptocurrencies at current market prices with immediate settlement.

To begin, log in to the app and tap on the 

Choose your desired trading pair, such as BTC/USDC or ETH/USDT, from the list.

 lets you specify a price at which you want to buy or sell. 

Enter the amount you wish to trade, review the details and confirm your order.

Once your order is executed, monitor its status in the 

Bybit has an intuitive interface that displays real-time updates, so you can track your trades anytime with ease. 

How to execute a spot margin trade with the Bybit app

For traders looking to leverage their positions, Bybit offers a spot margin trading feature that allows you to borrow funds to increase your buying power. Start by logging into your account and tapping on 

Choose a trading pair, such as ETH/USDC, which supports margin trading with leverage options of up to 10x. 

Once your trading pair is selected, you’ll need to select the margin amount (e.g., 

 at which you want your limit order to execute.

You’ll also see several other important metrics, such as 

Enter the amount you wish to trade, and then carefully review all of the details.

After confirming your order, your margin trade will be executed. You can track your position in the 

 tab, where you can also set up stop-loss or take-profit orders to manage risk. 

How to trade derivatives with the Bybit app

Bybit also offers derivatives trading, which allows you to speculate on the price movements of cryptocurrencies without actually owning the underlying assets. Derivatives include Futures and Perpetual contracts, which can be traded with leverage, sometimes up to 100x.

To start, log in to your account and tap on 

Set your desired leverage (e.g., 50x) and choose between 

 margin modes, based on your risk preference.

 (if using limit or conditional orders) and 

Once you’re satisfied with your parameters, confirm your order and your position will appear in the 

Trading with the Bybit app offers numerous advantages that make managing digital assets both efficient and secure. The platform’s user-friendly design, high-speed execution and comprehensive risk management tools cater to traders of all levels. Our Unified Trading Account (UTA) streamlines fund management by consolidating assets for spot, margin and derivatives trading under one account, which reduces operational complexity and enhances overall efficiency. This streamlined approach lets you focus on strategy rather than logistics.

Additionally, Bybit’s state-of-the-art security measures — such as multi-factor authentication, regular independent audits and cold storage of assets — ensure that your transactions are conducted safely and transparently. With an interface designed to minimize distractions and provide real-time data, you can quickly monitor market movements and adjust positions. 

Our commitment to a secure and reliable trading experience is evident in our continuous improvements and proactive customer support. These features empower you to make informed trading decisions, fostering confidence in your ability to navigate the dynamic crypto market.

Bybit delivers a secure, robust and intuitive mobile platform that simplifies cryptocurrency trading for everyone. In this guide, we’ve explored how to set up an account, fund it and execute various types of trades — spot, margin and derivatives — using a fully localized and user-friendly interface. Our Unified Trading Account and comprehensive risk management tools ensure a smooth trading experience so you can focus on growing your investments.

Looking ahead, Bybit remains dedicated to innovation and excellence in the crypto industry. We continually refine our platform, based on user feedback and market trends, ensuring that you have access to the latest tools and features. Our commitment to transparency and security underpins everything we do as we build trust and empower traders. 

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How to trade with the Bybit app

Bybit Learn

DeFi

Convex Finance is a well-designed platform that enables users to optimize the benefits of holding Curve Finance tokens. Find out more about how it works here.

, or decentralized exchange, well-known for permitting digital asset exchanges with no permissions needed. As exceptional as that is, Curve’s design can be confusing and cumbersome to navigate. In fact, this characteristic may prevent some who are new to 

 works as a yield optimizer that benefits Curve’s liquidity providers and token holders. With Convex, DeFi newcomers can generate passive income with greater ease.

Convex Finance is a well-designed platform that enables users to optimize the benefits of holding their CRV tokens, native to the Curve Finance platform. Rewards and fees can be paid out to CRV token holders to produce income without the requirement of locking their tokens.

Liquidity providers generate CRV tokens by locking them on Curve Finance, using a complicated platform. The Convex Finance platform is designed to help long-term CRV token holders reap the greatest return from their holdings without locking them. With this easier process, boosted rewards are available via the platform through staking and by providing liquidity. Those who earn rewards through Convex Finance do so in the form of its native cryptocurrency, CVX. Convex Finance’s benefits are available to anyone, and returns are optimized with a minimal performance fee and no withdrawal fee.

Convex Finance was specifically designed to accommodate Curve Finance’s functions. Curve was established in January 2020 as a stablecoin liquidity aggregator. It has a complicated transaction process that can be cumbersome for those who are relatively unfamiliar with the process. In simple words, Curve Finance requires a large amount of liquidity provided by liquidity providers in order to attain a successful exchange volume. In return, liquidity providers are given yield farming rewards in the form of CRV tokens. The more CRV tokens one locks, the more they can boost their CRV rewards from the liquidity pool.

A year later, Convex Finance launched with the goal of allowing Curve liquidity providers to profit without locking their tokens, or having a robust knowledge of a complicated platform. Within only two weeks of its launch, its 

The developers of Convex Finance had two primary goals when it was established: To promote liquidity generation for Curve Finance, and to boost CRV rewards for liquidity providers and stakers. The well-designed platform has already proven its value to Curve liquidity providers and to Curve Finance, and it continues to be refined to offer greater value.

Increase Returns for Liquidity Providers and CRV/FXS Stakers

Requiring tokens to be locked for up to four years can be prohibitive for some investors. Convex Finance offers boosted rewards to these individuals without locking their coins. The rewards are provided in the form of CVX tokens, the native cryptocurrency of the Convex Finance platform. With no deposit or withdrawal fees, profits are maximized. CRV tokens can also be 

 on Convex Finance. CRV stakers can earn a share of Curve trading fees and platform fees, and they can earn 

The easy-to-use design of the Convex Finance platform, as well as boosted Curve staking rewards and other benefits, means increased participation with Curve Finance. Curve liquidity providers now have an option to contribute to the platform without locking tokens for years. As a result, Convex Finance has boosted the liquidity generation capabilities of Curve Finance.

 blockchain and supports Curve Finance and Frax Finance. To begin using Convex, Curve liquidity providers deposit their CRV tokens into the Convex Finance app. Funds are contributed to a liquidity pool, enabling token holders to start earning boosted rewards immediately. 

CRV rewards can be earned over a period of time, and claimed whenever the investor chooses. The CRV tokens can be withdrawn at the investor’s discretion without a waiting period. Curve doesn’t charge trading fees for deposits and withdrawals, or for additional incentive tokens.

Convex Finance offers boosted Curve staking rewards in the same fashion. After a staker deposits CRV tokens into the Convex Finance app, they'll receive cvxCRV tokens. Stakers will then be able to earn CVX rewards, and profit from a share of the earned Convex platform fees. Moreover, stakers can receive trading fees via the 

Although Convex Finance was originally developed to support Curve liquidity providers and stakers, its developers have identified opportunities to apply the platform’s technologies and features to other protocols. Now Convex Finance supports another token-locking solution, 

. Its native cryptocurrency is the FXS token.

The sophisticated Convex Finance platform has numerous features that support its ability to receive boosted curve staking rewards, and various ways to avoid paying Curve trading and platform fees. Let’s look at some of its specific features.

As we know, locking up CRV tokens for as long as four years to earn rewards can be daunting and even a dealbreaker. Convex Finance supports staking CRV tokens without long-term locking. Investors’ tokens are pooled with other investors’ tokens in a liquidity pool, making boosted Curve staking rewards available. 

CRV tokens can be converted to cvxCRV tokens within the Convex Finance platform. Why would an investor want to do this, you might ask? Because by staking cvxCRV tokens, investors can profit in several ways. For example, they can receive a share of the total CRV token earnings from the platform, earn through airdrops, receive Curve trading fees and receive CVX rewards. 

Through the Convex Finance app, investors can stake Frax Finance LP tokens. While there’s no minimum staking period, stakers can qualify for boosted rewards by making a commitment of up to three years. Even without locking the tokens, investors can earn some 

. CVX lockers receive 7% of the FXS earned in the form of cvxFXS. The cvxFXS stakers receive 10% of the FXS earned in the form of FXS.

The Convex Finance platform also enables investors to 

. In this case, stakers receive a 5% portion of all the platform’s fees in the form of cvxCRV. CVX tokens can be staked and unstaked at the investor’s discretion without incurring Curve trading fees.

 CVX tokens gives investors the opportunity to participate in 

 or governance voting. The tokens may be locked for a specific period of time — approximately 16 weeks. Investors can check the app to view the status and unlock date of the tokens. The tokens qualify for boosted rewards via Curve Finance.

The team at Convex Finance control over 9.7% of the CVX token supply. The tokens in the 

 benefit the platform in several ways. They can incentivize people, tokens or actions that the team has identified as having a positive impact. In the future, this aspect of the platform’s operation may shift toward community governance.

The maximum supply of CVX tokens is 100 million. The circulating supply is approximately 67 million, while its market cap is $372 million.

Half of the tokens’ maximum supply are 

 for CRV rewards. A quarter are tied to liquidity mining, and are distributed accordingly over four years. As stated above, the Convex Treasury holds over 9.7% of the CVX tokens. Another 10% are vested for a year by the Convex Finance team. 

One percent of the tokens are allocated for veCRV holders. These are immediately claimable through airdrop. Another 1% is for veCRV holders who whitelist Convex, and these are claimable via airdrop as well. The final 3.3% of the tokens are available to investors. The cvxCRV tokens are tokenized veCRV, and they have a 1:1 ratio with locked CRV tokens. CVX stakers are able to access their earnings via the SushiSwap application.

When CVX launched, its price was $6.1921 per unit. Within a few weeks, it jumped to $20.15 per unit, but in July 2021 the value dropped to $1.8823 per unit. In September of that year, Convex Finance released news that its revenue had 

 would begin soon. This resulted in the price increasing to $13.73 by mid-September 2021. The CVX token price continued to rise to $40.37 in mid-November 2021 before once again dropping. After Convex Finance announced that it was now supporting Frax Finance, the token price reached a new peak of $62.69 in January 2022.

The token price has fluctuated considerably with the cryptocurrency market as a whole, but investor sentiment has remained bullish overall. While its current price is $5.51, 

 that the CVX price will hit double digits by 2023. TechNewsLeader believes the CVX price will reach $230.89 by 2030, while less optimistic DigitalCoinPrice believes that CVX’s price will reach only $77.84 by 2030.

Since many analysts maintain a bullish view of CVX for the next several years, it’s important to note that numerous factors impact token value. In addition, values tend to fluctuate dramatically from time to time. With this in mind, investors might want to hold their tokens through a dip to avoid taking a loss.

You can purchase CVX through many popular exchange platforms. 

 tokens are also available on Bybit as 

. Through Bybit, you can deposit fiat in exchange for a variety of tokens. You can also analyze historical pricing and trends with ease through the well-designed Bybit platform. Simply 

Tokens can be stored through the Convex Finance app, or wallets such as 

, Ledger, Trezor, Trust and others. Also consider that CVX can be staked and unstaked through the Convex Finance app without fees, and investors can qualify for boosted CRV rewards.

Convex Finance serves an important function by supporting Curve and Frax investments and offering boosted rewards to liquidity providers and stakers. It has exceptional potential because of its ability to support other similar services in the future. These may be the two primary reasons why the value of CVX tokens has had an overall upward trajectory since its launch, and why its growing value may continue going forward.

It’s important to note that the functionality of CVX is directly linked to CRV and FRX. Rather than requiring stakers to commit to long-term staking to make money through Curve and Frax, Convex Finance allows them to profit — and even to earn boosted rewards through CRV and FXS without a long-term commitment of their tokens. This means that investors can use CVX for both short-term and long-term investments without incurring expensive fees, which makes CVX a reasonable investment for both short-term and long-term holds.

However, the CVX token value does experience considerable fluctuations, which is common in the cryptocurrency market. With this in mind, there may be times when investors see value dips. This could necessitate holding the tokens until the value once again increases to avoid taking a loss.

Convex Finance has been well-received by investors since its inception. It enables access to the benefits of Curve Finance and Frax without notable drawbacks. For example, it doen’t require a years-long staking commitment or have expensive fees associated with it. The Convex Finance platform is structured such that it can serve other similar entities through its services. By doing so, it can help them to increase their liquidity by supporting investor activity. The platform was originally designed to support Curve Finance, and it’s already expanded to also support Frax. Going forward, Convex Finance may continue to expand in this way.

In addition to growth, Convex Finance may offer greater governance to its token holders. Currently, the Convex Treasury is controlled by the Convex team. The intent is to eventually increase the general governance of treasury control to voting token holders.

Convex Finance is a relatively new entity with ample room for continued growth and improvement. Aware of the platform’s flexibility, the Convex team is actively moving toward identifying new opportunities.

From eliminating Curve trading fees to optimizing CRV rewards for its users, Convex Finance offers significant advantages for its token holders. Activity on the platform is significant, and it has been growing steadily since the platform’s inception. With boosted rewards and other benefits available now for Frax, plus the potential for additional growth, Convex Finance is a platform to watch.

Convex Finance (CVX): Providing Boosted CRV & FXS Yields

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards