Crypto Yield Farming Takes Off: Convex Finance (CVX) Price Skyrockets

• Convex Finance (CVX) doubled in price within 24 hours, establishing new records for trading volume on major exchanges.
• Analysts capitalized on CVX’s price swings, leveraging high APR incentives.
• The rise underscores growing interest in DeFi platforms, positioning CVX as a player in the market.

Convex Finance’s (CVX) price surged over 100% within the past 24 hours, accompanied by record-breaking trading volumes across major exchanges.

On June 16, crypto analyst Wu Blockchain highlighted that Binance saw CVX/USDT spot trading volume near $32 million, a new daily record for the platform. Simultaneously, Bybit recorded $120 million in CVX USDT perpetual contract trading.

Curve yield amplifier Convex CVX has soared more than 100% in the past 24 hours. On June 16, Binance CVX/USDT spot trading volume reached nearly $32 million, setting a new record for a single day. In the past 24 hours, Bybit CVX USDT perpetual contract trading volume reached $120…

— Wu Blockchain (@WuBlockchain) June 17, 2024

This surge follows a statement by crypto investor CrediBULL Crypto, who detailed their experience with Convex Finance. The investor first purchased CVX in 2021 at a…

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