Covalent Cuts $CXT Supply Amid Major Tech Upgrades
Covalent buys back 900K $CXT, trims supply by 1%, boosts adoption with API upgrades and Revolut listing.
- Covalent bought back 900K $CXT in August, reducing supply
- HyperEVM and GoldRush upgrades enhance API capabilities
- MiCA-compliant Revolut listing drives mainstream exposure
Blockchain data provider Covalent has taken a major step to improve token economics by buying back 900,000 $CXT tokens in August. This strategic move has reduced the total circulating supply by nearly 1% over the past year. In a space where token inflation often undermines value, this buyback reflects a serious commitment to long-term sustainability.
Such supply-side moves are often seen as bullish signals, especially when paired with increasing demand, which Covalent seems well-positioned to capture.
150+ Chains and HyperEVM Support Boost Adoption
Covalent continues to expand its footprint with support for over 150 blockchain networks, offering one of the most comprehensive APIs in the Web3 space. The recent GoldRush API upgrade, which includes HyperEVM support, enables developers to access real-time data across chains faster and more efficiently than ever before.
This makes Covalent’s infrastructure even more attractive to both developers and enterprises seeking scalable, multi-chain solutions. It’s clear that the company is not just focused on cutting supply but also driving demand through better technology.
Listing on Revolut Adds Regulatory and Retail Momentum
In a significant milestone, $CXT has been listed on Revolut, a leading fintech platform with millions of users. Importantly, this listing is MiCA-compliant, aligning with the EU’s latest crypto regulations.
This move opens the door for wider retail adoption while reinforcing Covalent’s commitment to regulatory compliance. It also represents another piece of the growing revenue flywheel—greater visibility leads to more usage, which leads to higher value capture for $CXT.
Read Also :
- XRP Price Prediction: Analysts See $5 Target If Spot ETF Approval Secured in 2025
- WLFI Blacklists 272 Wallets to Boost User Security
- Whales Dump 100K BTC in 30 Days: Biggest Selloff Since 2022
- Trump-Linked Bitcoin Firm Joins Top 25 Crypto Treasuries
- Shiba Inu Passed You By? Arctic Pablo Shines as the Best Crypto to Buy Today in the Coldest Week of Big Bags
