Why CXT Price is Surging Today 🚀
CXT, the native token of Covalent X, is seeing a significant price increase today, up by 52.97%. This surge is largely due to a massive spike in trading volume, with a remarkable 471.56% increase over the last 24 hours. Such a jump in volume typically indicates heightened market interest and could be the result of positive developments within the Covalent ecosystem or speculation from traders.
Despite the sharp increase, CXT’s market cap is at $14.71 million, which suggests the token still has potential for growth. The circulating supply is nearly 1 billion, with only a small portion of tokens left to be unlocked, which may reduce future sell pressure.
With over 10,000 holders, Covalent X’s ecosystem is gaining traction, attracting more interest from both retail and institutional investors. As the project continues to grow and develop, the current price surge might reflect renewed confidence in its long-term prospects. However, given the volatility of the crypto market, traders should remain cautious as the price may fluctuate in the short term.
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