Covalent X Token (CXT) Price

$0.005758588701319072

15m

Covalent X Token (CXT) Price Today

The live price of Covalent X Token is 0.005758588701319072 USD. In the past 24 hours, the trading volume of Covalent X Token was 306,596.41 USD, down by -0.24%. The current price has decreased by -17.35% from its 7-day high of 0.26 USD, and increased by 0.00468476% from its 7-day low of 0.00468476 USD. With a circulating supply of 1,000,000,000.00 Covalent X Token, the market cap of Covalent X Token is currently 23,127,159.00 USD, down by 0% in the last 24 hours. Covalent X Token currently ranks #1513 by market capitalization among cryptocurrencies.

Covalent X Token (CXT) Market Data

Market Cap

$5.7M

24h Volume

$306.5K

Circulating Supply

999.9M CXT

Maximum Supply

1B CXT

Fully Diluted Market Cap

$5.7M

Liquidity Indicator

5.32%

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About Covalent X Token (CXT)

How can I buy Covalent X Token (CXT)?

Buying Covalent X Token (CXT) on BingX is simple and secure. Create an account, deposit USDT or another supported asset, and purchase Covalent X Token (CXT) directly in the Spot Market. The tokens will then appear in your BingX Spot Wallet, ready for trading or transfer at anytime. Discover How to Buy CXT Guide for more information.

What Is Covalent X Token (CXT) and How Does It Work?

Covalent X Token (CXT) is the native utility and governance token of Covalent, a decentralized data infrastructure platform that provides unified, standardized blockchain data across hundreds of networks. Covalent aggregates on-chain data, such as transactions, wallet balances, smart contracts, NFTs, and DeFi activity, into a single, queryable API, making it easier for developers, analysts, and enterprises to build Web3 applications without managing complex blockchain nodes.

CXT plays a central role in securing and operating the Covalent Network. The protocol uses a decentralized network of node operators, known as Covalent Operators, who index blockchain data and serve it to users. These operators stake CXT tokens to participate in the network, while delegators can also stake CXT to support operators and earn rewards. This staking mechanism aligns incentives, helping ensure data accuracy, uptime, and resistance to censorship.

In addition to staking, CXT is used for network governance and economic coordination. Token holders can vote on protocol upgrades, parameter changes, and ecosystem decisions that shape Covalent’s long-term development. CXT also functions as the economic layer for data access, where developers and enterprises can pay for blockchain data services, creating a demand-driven utility model that ties the token’s value to real usage of the Covalent data infrastructure.

When Did Covalent X Token Launch?

Covalent X Token (CXT) was launched on July 10, 2024 as the native token of the Covalent Network, marking a major upgrade from its predecessor token (CQT) following a community governance vote. The project was co-founded by Ganesh Swami and Levi Aul, who envisioned a unified, verifiable blockchain data layer accessible via a single API for developers, enterprises, and analytics platforms. This launch formalized CXT’s role in powering decentralized data infrastructure for Web3 applications, staking, and governance on the Ethereum network.

Covalent (CXT) Roadmap and Key Milestones

- July 10, 2024: Official launch of Covalent X Token (CXT) on Ethereum mainnet.

- Late 2024: Migration completed from CQT to CXT following governance approval, enabling full use of the new token in network operations.

- 2025: Ongoing ecosystem growth with API enhancements, e.g., GoldRush, increased staking participation, and enterprise integrations.

- 2025–2026: Focus on adoption of data services, governance expansion, and further utility development.

What Is the CXT Token Used for?

CXT is the native utility and governance token of the Covalent Network, designed to power its decentralized blockchain data infrastructure. Its primary use is staking, where node operators stake CXT to index and serve on-chain data, while delegators can stake tokens to support operators and earn staking rewards. This mechanism secures the network and incentivizes accurate, reliable, and censorship-resistant data delivery.

CXT is also used for governance and economic coordination. Token holders can vote on protocol upgrades, network parameters, and ecosystem proposals, giving the community direct influence over Covalent’s future. In addition, CXT functions as the economic layer for data services, where developers and enterprises can pay for blockchain data access, aligning token demand with real usage of the Covalent network.

You can trade CXT tokens on the BingX spot market by buying or selling CXT/USDT using real-time market prices. BingX offers a user-friendly spot trading interface with advanced order types, making it easy to manage CXT trades and liquidity efficiently.

What Is Covalent X Token Tokenomics?

Covalent X Token (CXT) has a maximum fixed supply of 1 billion tokens, ensuring a defined economic cap that cannot be increased beyond this limit.

CXT Token Allocation

- Seed Round – 10% (100,000,000 CXT): 18-month vesting with a 6-month cliff; released in four tranches (25% at months 6, 12, 15, and 18).

- Private Sale – 20.4% (203,846,154 CXT): 9-month vesting with no cliff; 25% released at TGE, then every 3 months.

- Private Sale II – 2.9% (29,305,142 CXT): 9–24-month vesting; tokens released in 25% tranches at 3–6-month intervals, depending on allocation terms.

- Public Sale – 3.4% (34,314,063 CXT): Mixed vesting structure; Tier 1 with no vesting, Tier 2 and 3 with 12–24-month vesting and short cliffs, while VIP tiers unlock 25% every 6 months after a 6-month cliff.

- Team – 14.4% (143,636,035 CXT): 48-month vesting with a 12-month cliff, aligning core contributors with long-term network success.

- Advisors – 2.0% (20,000,000 CXT): 24-month vesting with a 13-month cliff.

- Reserve – 18.9% (188,898,607 CXT): 45-month vesting with no cliff, used for strategic initiatives and long-term protocol needs.

- Staking Rewards – 8.0% (80,000,000 CXT): 53-month emission schedule with a 6-month cliff, supporting validator and delegator incentives.

- Ecosystem and Network Growth – 20.0% (200,000,000 CXT): 47-month distribution with no cliff, funding developer incentives, partnerships, and ecosystem expansion.

How to Stake CXT Tokens on Covalent Network

Staking CXT allows you to help secure the Covalent Network while earning protocol rewards. You can participate either as a delegator as most users or as a node operator, advanced users running infrastructure.

Step 1: Set Up a Compatible Wallet

CXT is an ERC-20 token, so you’ll need an Ethereum-compatible wallet such as MetaMask, Rabby, or another Web3 wallet. Ensure your wallet holds CXT tokens and a small amount of ETH to cover gas fees.

Step 2: Access the Covalent Staking Dashboard

Visit Covalent’s official staking interface and connect your wallet. The dashboard displays available node operators, their performance metrics, commission rates, and current staking capacity, helping you make an informed choice.

Step 3: Choose a Staking Method

- Delegate CXT (most common): Select a node operator and delegate your CXT tokens to them. You retain custody of your tokens while earning a share of staking rewards.

- Run a Node (advanced): Operators stake CXT directly and run indexing infrastructure to serve blockchain data. This requires technical setup and higher responsibility but offers higher reward potential.

Step 4: Confirm and Stake

Enter the amount of CXT you want to stake, review the lockup and unbonding terms, and confirm the transaction in your wallet. Once confirmed on-chain, your CXT will be actively staked.

Step 5: Earn Rewards and Manage Your Stake

Staking rewards are distributed periodically based on network participation and performance. You can track rewards, redelegate to another operator, or initiate unstaking through the dashboard, subject to the protocol’s unbonding period.

Info Source

Official Website

Whitepaper

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Disclaimer:

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