Ethereum ETFs Launch with Over $1 Billion in Trading Volume Despite Stable ETH Prices
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Daily Top Performer — Convex Finance (CVX)
The SPX index was down by 0.16% amidst a broader sentiment affected by both positive and disappointing earnings results from major companies. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 4.03% and 0.09%, respectively in the past 24 hours.
Today's top performer is CVX, which surged 18.2% following F(x) Protocol's distribution of over $85K in 10th round of gauge incentives.
Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. The f(x) Protocol announced the completion of the 10th round of gauge incentives, distributing $85,798.11 to voters of various tokens and pools across multiple platforms including Aave, Convex Finance, Inverse Finance, Alchemix, Stake DAO, Abracadabra, and Zunami Protocol. Additional incentives totaling $86,797 were distributed through Paladin, Votium, and Stake DAO's Votemarket. Participants in these pools can monitor their APYs and claim further rewards from newly concluded initiatives, such as the GENESIS period for $cvxUSD, through the f(x) Protocol’s website.