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3 reasons why Convex Finance surged 215% in December to hit new all-time high
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The growth of the stablecoin sector within crypto has been one of the most impactful developments of 2021. In particular, stablecoins became integral to the expanding decentralized finance (DeFi) ecosystem as their total value eclipsed $162 billion, according to CoinMarketCap.
One project that has seen its token price surge thanks to its focus on stablecoins and the Curve Finance (CRV) ecosystem is Convex Finance (CVX), a protocol that aims to help users boost CRV staking to maximize yields.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $18.79 on Dec. 4, the price of CVX surged 215% to establish a new record high at $60.22 on Dec. 27. Over the same period, its 24-hour trading volume spiked from an
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