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Given CVX's earnings, is it time to buy Convex Finance?



Convex Finance was up 47% yesterday and continues gaining today. However, it has suffered dramatic losses of late and appears quite volatile in general. If you want to learn what Convex Finance is and how and where to buy Convex Finance, this guide is for you.


What is Convex Finance?

Convex Finance is a DeFi project built on top of Curve, a community-managed DEX focused on stablecoins. His model is to get Curve liquidity providers and Curve DAO token (CRV) holders to deposit their tokens in exchange for CVX tokens and big rewards.


Curve enables trading by creating user-supplied crypto pools that can generate fees for the crypto assets they deposit. In exchange for blocking CRV, they receive veCRV tokens.


The more CRV users use the system and the longer they use it, the higher the returns. They also get more control over how the system is managed.


Convex Finance encourages users to deposit CRV on its platform by promising them higher returns than they would receive if they deposited directly with Curve.


By acting as an intermediary for depositing and bundling CRV on behalf of its holders, Convex Finance is able to expand its dominance and returns.


Should I Buy Convex Finance Today?

Considering how difficult it is to make an accurate cryptocurrency prediction, you should never make decisions affecting your finances before doing in-depth market analysis. Don't invest more than you can afford to lose.


Convex Finance Price Prediction

Price Prediction predicts a minimum price of $37.26 for next year, versus around $20 currently. It can go as high as $44.47 with the average price being $38.32 throughout the year.


The following year, according to them, Convex Finance trades for at least $51.50. With an average trading price of $53.03, it can reach $63.83. In 2025, 1 CVX is expected to trade for at least $75.92.

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