As CVX’s gains continue, is it time to buy Curve’s project Convex Finance?
Convex Finance, a project on Curve, spiked 47% yesterday and continues its gains today. However, it suffered dramatic losses recently and generally appears quite volatile. If you are attracted to unique features and want to learn how and where to buy Convex Finance, this guide is for you.
Top places to buy Convex Finance now
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{{/static}}What is Convex Finance?
Convex Finance is a DeFi project built on top of Curve, a community governed DEX focusing on stablecoins. Its model is to attract Curve liquidity providers and Curve DAO Token (CRV) holders to deposit their tokens in return for CVX tokens and large rewards.
Curve makes trading possible by creating crypto pools provided by users, who can generate fees on the crypto assets they’ve deposited. In return for locking CRV, they get veCRV tokens.
The more CRV users lock up and the longer they lock it up for, the bigger the yields. They also get more power in terms of how the system is managed.
Convex Finance encourages users to deposit CRV with its platform by promising higher yields than they would get by going directly to Curve.
By acting as a middleman to deposit and pool CRV on behalf of its holders, Convex Finance can grow its dominance and its yields.
Should I buy Convex Finance today?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.
Convex Finance price prediction
Price Prediction forecasts a minimum price of $37.26 next year, up from around $20 now. It can go up to as much as $44.47 with the average price of $38.32 throughout the year.
The following year, Convex Finance will trade for at least $51.50 according to them. It can reach $63.83 with the average trading price of $53.03. In 2025, 1 CVX is expected to trade for at least $75.92.
Convex Finance on social media
$CRV v2, Day 1$CVX $SPELL $T $FXS $FRAX $BADGER $INV $DOLA $RAI $YFI $ETH $BTC $USDT pic.twitter.com/YGeu3nQkgo
— curvecap.lens (@CurveCap) January 20, 2022
