A friend just asked: “Convex Finance’s fee revenue is 2.8 times its usual level. Does that mean $CVX is about to go up?”
Here’s what I said: Better data is a good thing, but a single metric doesn’t determine how a token’s price will move. Revenue over 24 hours was $351,000, compared with the usual $124,000—that’s definitely a big increase, but a one-day spike could be due to something temporary. I’d watch it for a few days before drawing any conclusions.
#CVX
I could be wrong, so make your own decision.
Here’s what I said: Better data is a good thing, but a single metric doesn’t determine how a token’s price will move. Revenue over 24 hours was $351,000, compared with the usual $124,000—that’s definitely a big increase, but a one-day spike could be due to something temporary. I’d watch it for a few days before drawing any conclusions.
#CVX
I could be wrong, so make your own decision.