In a notable development in the decentralized finance (DeFi) sector, Convex Finance has broadened its range of financial products through a new collaboration with Napier Finance. This partnership introduces a novel derivative wrapper, $cvxNPR, marking a significant expansion in Convex’s product lineup.
The inclusion of Napier Finance into Convex’s ecosystem underscores a strategic alignment aimed at enriching the utility and versatility of the Convex platform.
Convex will not post any links after this tweet. Links below this tweet that look like Convex are spam, fake or phishing links. Do not click any link under this tweet. pic.twitter.com/EIUcMxeu4g
— Convex Finance (@ConvexFinance) July 4, 2024 Napier Finance, known for its innovative yield trading strategies on the Curve protocol, complements Convex’s objectives to diversify and strengthen its offerings within the Curve ecosystem. This collaboration not only broadens the financial instruments available on Convex but also enhances the overall robustness of the DeFi landscape.
Strategic Integration and Benefits The integration of Napier Finance into the Convex ecosystem is a strategic move designed to leverage Napier’s specialized focus on yield trading strategies. This partnership is expected to introduce fresh use cases for the $CVX token, enhancing its application and appeal in the broader DeFi market. The launch of $cvxNPR is particularly significant as it represents the latest in a series of strategic expansions by Convex Finance aimed at diversifying its portfolio while reinforcing its connection to the Curve ecosystem.
The introduction of $cvxNPR not only broadens the scope of financial products under Convex’s management but also provides existing and new users with more versatile investment options. This expansion is indicative of Convex’s ongoing efforts to adapt and evolve in response to the dynamic DeFi sector, ensuring its platform remains competitive and relevant.
Engagement and Incentives in the DeFi Community The recent launch of Napier Finance has been accompanied by substantial community engagement initiatives, including a governance vote on Curve and an airdrop of Napier points to vlCVX holders. These points, redeemable as $cvxNPR, are part of a broader strategy to incentivize participation and investment in the Napier ecosystem. Convex Finance has made it clear that for vlCVX holders to benefit from the airdrop, active participation in Curve governance votes is essential.
Additionally, stakeholders in the Napier project have the opportunity to claim liquid $cvxNPR directly on the Convex platform. This mechanism ensures that $NPR remains locked, providing long-term value and voting rights which are managed by $vlCVX holders. The ultimate aim is to secure a controlling interest in $NPR governance, which will allow for the strategic direction of emission policies, aligning with Convex’s long-term objectives to enhance stakeholder value within its ecosystem.
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Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.
Convex Finance ($CVX) has popped out as ‘Coin of the Day’ with a significant spike of 9.3% during the last 24 hours. Because of the bullish performance of $CVX, many crypto investors are eyeing it and predicting strong market performance and community engagement.
Convex Finance, altcoin ranked 43 in the crypto market, dominating the crypto market in terms of market performance and social activity as compared to other completive cryptocurrencies. $CVX is trading at $2.26 with a 24-hour trading volume of $16,010,176, up by 56.23% luring the crypto investors and traders.
Statistical Analysis of $CVX: Convex Finance Outperforming Competitive Altcoins $CVX is giving a tough time to its competitive altcoins by outperforming them in terms of significant daily and weekly spike in price value. According to statistical data, $CVX is up by 9.3% during the last 24 hours and surged by 5.7% past week.
With a market cap of $184.14 million, $CVX touched its all-time high value (ATH) of $60.9 three years ago and now again seems bullish to bounce back in the green zone. As per the social chatter and Convex Finance’s significant growth, $CVX is now regarded as a valuable crypto asset in terms of gaining maximum profits in the coming time.
Price Prediction of Convex Finance As $CVX is outperforming many of its competitive altcoins, many crypto traders and investors are eyeing Convex Finance, to yield maximum profits by investing in $CVX. If we look at the community sentiment, around 86% of the community believes that $CVX is going to be bullish and it is the right time to invest in it. Based on the crypto history, the coming October (Uptober in crypto) will further push $CVX beyond the boundaries.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Convex Finance (CVX) has seen a continuous downtrend since the crash at the end of July, with its price steadily declining each day. This prolonged drawdown has resulted in CVX reaching a new all-time low.
The persistent losses have left investors wary, leading to further pessimism about the token’s recovery prospects.
Convex Finance Investors Give UpInvestor sentiment around CVX has been overwhelmingly negative in recent months. As losses continued to mount over the last two months, confidence among holders began to erode. Many investors who initially believed in the token’s potential recovery are now skeptical about its ability to bounce back, especially in light of the consistent price declines.
This growing pessimism has worsened as CVX fails to establish a stable support level. The lack of bullish momentum and the token’s inability to reverse its downtrend has compounded concerns, leaving many holders uncertain about the future of their investments.
Read More: What Is Convex Finance (CVX)?
CVX Realized Losses. Source: SantimentCVX’s overall macro momentum is also troubling. Historically, Convex Finance has maintained a correlation with Bitcoin, a trend that typically benefits altcoins. However, this correlation has proven to be a bearish signal for CVX.
Whenever the correlation between CVX and Bitcoin improves, the altcoin has experienced further price drops. The current situation is no different, with the increased correlation contributing to CVX’s decline to a new all-time low.
This bearish macro environment, coupled with the strong correlation to Bitcoin’s price movements, has placed additional downward pressure on CVX. As the cryptocurrency struggles to recover, it remains vulnerable to further losses unless significant bullish sentiment returns to the market.
CVX Correlation to Bitcoin. Source: TradingViewCVX Price Prediction: What After a New LowOver the last four days, CVX has experienced a 16% drop, creating intense bearish pressure. This resulted in the token hitting a new all-time low, with an intra-day decline of 6%, bringing CVX down to $1.72. At the time of writing, CVX is trading slightly higher at $1.86, just above the critical support level of $1.81.
CVX would need to reclaim the local support level of $1.97 to regain momentum. However, given the current bearish sentiment and ongoing selling pressure, this may prove not easy in the near term. Without a significant change in the market conditions, CVX could struggle to break above key resistance levels and face consolidation above $1.81.
Read More: What are Crypto Airdrops?
CVX Price Analysis. Source: TradingViewOn a more optimistic note, if CVX manages to bounce off the $1.97 level, it could push back above $2.00. A successful breach of $2.12 would invalidate the bearish-neutral outlook and potentially trigger a recovery, although this remains a challenging scenario given the token’s recent performance.
Convex Finance Coin (CVX) is the native asset of the Convex platform, created by the Convex team with the motto of maximizing yield.
What Is Convex Finance (CVX)?Convex Finance (CVX) is a protocol designed to simplify the Curve boosting experience to maximize yield. Convex allows Curve liquidity providers to earn trading fees and claim boosted CRV without having to lock their CRV. Liquidity providers earn boosted CRV and liquidity mining rewards with minimal effort.
By staking CRV, Convex allows users to earn a share of the trading fees and CRV received by liquidity providers. This leads to better capital efficiency and a more balanced distribution between liquidity providers and CRV holders. Curve liquidity providers can deposit their LP tokens into Convex to maximize their CRV earnings with enhanced support. Curve DAO token stakers can earn boosted CRV and CVX tokens through the protocol.
There are no deposit or withdrawal fees with Convex. A small performance fee is charged, which is distributed to CRV stakers and CVX token holders. As DeFi farmers, CRV saw a need for users to receive the maximum support in a simplified manner and collect their real rewards directly without automatic sales. Additionally, it was identified that CRV stakers should be rewarded more since they are mining alongside liquidity providers. Convex aims to change the system by taking a lower performance fee, redistributing the fees to CRV stakers and CVX token holders, and distributing the rewards directly.
Where to Buy CVX Coin?Convex Finance can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. CVX Coin is traded on the Binance platform with pairs such as CVX/BTC, CVX/USDT, and CVX/BUSD.
To purchase Convex Finance (CVX), one must first register with the Binance exchange. Upon completing the registration, cryptocurrency or fiat money must be transferred to the Binance account wallet. After the transfer is completed, CVX Coin can be purchased from one of the three pairs mentioned above. For buying from the CVX/USDT pair, the user must first go to this pair’s interface. In the limit tab, the desired amount to be purchased is entered. Once the amount is specified, the purchase is completed with the Buy CVX order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
A misconfigured oracle allowed an attacker to drain $9.5 million from Resupply, exploiting a critical flaw in a subDAO linked to Convex and Yearn.
(Photo of Vladimir Solomianyi on Unsplash)
Posted June 26, 2025 at 10:15 am EST.
Resupply, a decentralized stablecoin protocol operating as a subDAO of both Convex Finance and Yearn Finance, lost an estimated $9.5 million in a Wednesday exploit, according to a number of blockchain security firms.
The BlockSec team first flagged the exploit through its Phalcon platform’s X account, after which several researchers determined the root cause was the ResupplyPair contract using an empty ERC-4626 wrapper as the price oracle.
This story is an excerpt from the Unchained Daily newsletter.
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ERC-4626 is a tokenized vault standard for Ethereum, which provides a standardized interface for yield-bearing vaults. When an empty ERC-4626 vault is used as a price oracle, it reports inaccurate prices.
As a result, the attacker was likely able to manipulate the exchange rate to zero and enable uncollateralized borrowing of massive amounts of tokens.
According to one engineer’s analysis of the attack transaction, the attacker used only 2 crvUSD to borrow 10 million reUSD.
Humanity Protocol (H) is up 40% over the last 24 hours while Curve DAO (CRV) and Convex Finance (CVX) edge higher by 10% each as the broader cryptocurrency market recovers. The bullish rebound in H, CRV, and CVX gains momentum as it approaches a crucial resistance level.
Humanity Protocol steadies after a 40% riseHumanity Protocol ticks lower by 2% at press time on Tuesday, after a 40% jump on the previous day. The H token trades near $0.2000 with bulls aiming for the $0.2319 level, marked by the November 7 close.
If the altcoin clears this level, it could target the R1 Pivot Point at $0.2858.
The technical indicators on the daily chart show heightened bullish momentum. The Relative Strength Index (RSI) at 70 enters the overbought zone while the Moving Average Convergence Divergence (MACD) crosses above the zero line, accompanied by successively rising green histogram bars.
H/USDT daily price chart.On the flip side, the 50-day Exponential Moving Average (EMA) at $0.1191 could serve as a crucial support.
Curve DAO extends gains with renewed bullish momentumCurve DAO gains over 1% on Tuesday, extending the 8% rise from Monday, signaling a rebound within a falling wedge pattern on the daily chart. The CRV token approaches the overhead trendline connecting the October 13 and November 10 highs, near $0.4000.
If the DAO token secures a decisive close above this level, it could find the 50-day EMA at $0.4223 as an immediate resistance, followed by the $0.5000 psychological mark.
The RSI on the daily chart is at 48, pointing upwards and inching closer to the midpoint line, indicating reduced selling pressure. Additionally, the MACD crosses above its signal line, suggesting a refreshed bullish momentum.
CRV/USDT daily price chart.Looking down, a potential reversal below the S1 Pivot Point at $0.3365 would nullify the wedge pattern, potentially extending the decline to the S2 Pivot Point at $0.2583.
Convex Finance rally eyes 50-day EMA breakoutConvex Finance gains nearly 3% at the time of writing on Tuesday, building on the almost 7% jump from the previous day. The 50-day EMA at $1.93 serves as the immediate resistance for the CVX rebound.
If the token clears this moving average, it could extend the rise above $0.20 to the R1 Pivot Point at $0.22.
Similar to Curve DAO, the MACD indicator shows a bullish crossover, signaling renewed bullish momentum, while the RSI at 54 crosses above the centerline, indicating a rise in buying pressure.
CVX/USDT daily price chart.However, if the CVX token reverses to the downside, it could mark a lower leg closer to the S1 Pivot Point at $1.48.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
16 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
16 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
16 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
16 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
16 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
16 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
16 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
16 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
16 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
16 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Decentralized Finance (DeFi) tokens, including Jito (JTO), Morpho (MORPHO), and Convex Finance (CVX), rank among the top-performing crypto assets over the last 24 hours. Jito dips on Wednesday after rallying 22% the previous day on the launch of a new mainnet node. Mopho holds near its 200-day Exponential Moving Average (EMA) at approximately $1.50, while Convex Finance extends higher toward a key resistance trendline.
Jito takes a breather after a bullish spikeJito surged 22% on Tuesday on the launch of its new mainnet node. However, the 50-day EMA capped the intraday gains, reflecting the downside bias. The declining downside slope of the 50-day and 200-day EMAs reaffirms the prevailing bearish bias.
At the time of writing, JTO is down 7%, risking a pullback below $0.30. A decisive close below this psychological support could extend the decline to the S1 pivot point at $0.21.
The technical indicators on the daily chart flash mixed signals. The Relative Strength Index (RSI) at 50 remains neutral as short-term buying pressure wanes. Meanwhile, the Moving Average Convergence Divergence (MACD) exhibits a steady upward trend, with the signal line remaining positive and the histogram expanding. This suggests a rush in bullish momentum.
JTO/USDT daily price chart.To reinstate an upward trend, the Jito must hold a decisive close above the 50-day EMA at $0.3462, which would extend the upside to the R1 pivot point at $0.46.
Morpho tests a crucial resistanceMorpho is trading at $1.51 at press time on Wednesday, testing its 200-day EMA at $1.50 following a 10% jump on the previous day. The upward slope in the 50-day EMA reflects a short-term bullish bias. The DeFi token has extended its weekly gains by roughly 15% so far, following the 15% rise in the previous week.
A decisive close above the 200-day EMA at $1.50 would likely test the R2 pivot point at $1.59.
The technical indicators on the daily chart reflect a buy-side dominance. The RSI is at 64, inching closer to the overbought zone as buying pressure increases. At the same time, the MACD and signal line extend into positive territory, with successive positive histograms. This suggests a significant increase in bullish momentum.
MORPHO/USDT daily price chart.However, a bearish close to the day would indicate significant easing of upside pressure, risking a retest of the R1 pivot point at $1.36.
Convex Finance rally gains tractionConvex Finance continues to rise for the third consecutive day, surpassing $2.00. At the time of writing, CVX is up nearly 3% on Wednesday, extending its bounce back from the 50-day EMA at $1.96.
The DeFi token is approaching a crucial resistance trendline at $2.21, which connects the October 13 and January 29 highs. A decisive close above $2.21 would likely open the door to higher resistance levels, including the 200-day EMA at $2.34 and the R1 pivot point at $2.53.
The RSI at 58 on the daily chart is rising upwards from the midline with further upside before reaching the overbought zone. Additionally, the MACD crosses into positive territory as the histogram widens, indicating a surge in bullish momentum.
CVX/USDT daily price chart.On the flip side, crucial support remains at the 50-day EMA at $1.96, followed by $1.58, which aligns with the November 21 low.
How Convex Finance is still serving top farming opportunities four years after its peak.
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Convex was once DeFi’s ultimate power broker.
At its peak in early 2022, this DeFi protocol controlled more than $20B in user deposits and used its immense governance control over the adjacent Curve ecosystem to mold crypto’s liquidity landscape.
While Convex remains firmly embedded in the onchain economy – still fulfilling its role as a battle-tested bastion for yield and ranking among the largest protocols in its category – this former giant stands diminished, with total value locked down 97% after having failed to reclaim its DeFi dominance in recent years.
Today, we’re exploring how Convex is continuing to produce leading crypto market yield for DeFi's capital allocators despite its more modest scale in 2026.
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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
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Mochi founder Azeem Ahmed sold 550K CVX from a Curve-linked stash as on-chain probes allege over $8M in diverted rewards and $54M in DeFi losses.
Summary
Mochi Finance founder Azeem Ahmed sold about 550,285 CVX for roughly $946,000, pushing the token down more than 10%. The CVX stack traces back to a 2021 Curve pool drain that left liquidity providers with an estimated $54 million in losses. Ahmed now faces years of on-chain fraud allegations spanning at least four DeFi projects, with diverted rewards and liquidity drains topping $8 million. Azeem Ahmed, founder of Mochi Finance and GaiaDAO, has sold approximately 550,285 Convex Finance (CVX) tokens from wallets linked to a 2021 Curve Finance drain, netting around $946,000 and triggering a double‑digit intraday slide in CVX’s price. On March 19, the tokens were liquidated at an average price of about $1.72, sending CVX from roughly $1.88 to $1.68, a drop of more than 10% according to on-chain data reviewed by Crypto Daily. The proceeds were routed to a multisig associated with the Mochi protocol, which held about $864,858 in assets after the sale, while another 500,000 CVX remain locked on Convex Finance.
The CVX position itself originates from Mochi’s controversial November 2021 move to mint its USDM stablecoin against MOCHI and drain roughly $46 million in DAI-equivalent liquidity from the USDM/3CRV pool on Curve. At the time, Mochi used 10 billion MOCHI tokens—assigned a hard‑coded oracle price despite near‑zero market value—to mint 46 million USDM, convert the proceeds into 9,876 ETH, and purchase about 1,050,285 CVX, which were then locked on Convex Finance, according to certified crypto‑trace reports by forensics firm IFW Global. Curve’s Emergency DAO responded by killing Mochi’s gauge and blocking further emissions after characterizing the maneuver as a “clear governance attack,” a clash that became part of the broader “Curve Wars” over CVX and CRV voting power and emissions.
From “peg rebalancing” to diverted rewards In the aftermath, Ahmed re-emerged through GaiaDAO with a Peg Rebalancing Module (PBM) pitched as a mechanism to distribute CVX staking rewards from the locked position to USDM holders and gradually restore the stablecoin’s peg. The PBM charged a 2% management fee and 20% performance fee payable to Ahmed, but according to Curve governance forum records, he unilaterally hiked the performance fee to 50% before community backlash forced him to reverse the change. By November 2025, reward distributions from the 1,050,285 vlCVX position had stopped entirely, and on-chain data indicates those rewards were rerouted to a wallet that also acts as a signer on the CVX multisig, with the value of diverted staking rewards alone estimated at more than $1.6 million.
Beyond staking flows, investigators allege that about 2,198 ETH—worth roughly $6.67 million at the time—and $471,429 in USDC were drained from Mochi/ETH liquidity pools and never returned to depositors, while airdrops from protocols including Prisma, CNC, VELO, LFT, and YB reportedly remained unclaimed or undistributed. Aggregate investor losses tied to the Mochi ecosystem and its associated pools are now estimated at over $54 million, according to IFW Global’s certified reports.
A pattern of disputes and legal risk Ahmed’s track record stretches back to at least 2020 and spans Yieldfarming.insure (SAFE), Armor.fi, Mochi Finance, and GaiaDAO, with repeated accusations of misappropriating community funds. During the original Mochi‑Curve confrontation, Curve alleged that Mochi’s strategy amounted to a governance attack, while Ahmed insisted in an interview with Crypto Briefing that the team had simply taken a “bold approach to gaining voting power in the DAO” and argued that the “DeFi Cartel … feels threatened that a small player on the outskirts” could challenge incumbents. Robert Forster, Ahmed’s former co‑founder at Armor.fi, later accused him publicly of stealing “millions in LP tokens,” a charge Ahmed denied by claiming the funds were “returned in full” and counter‑alleging that Forster had taken money for personal use.
Legal pressure has also followed the on‑chain drama into courts. A prior lawsuit by an Armor.fi user in San Francisco Superior Court (Chen v. Ahmed, Case No. CGC‑21‑589609) ended in an out‑of‑court settlement after a temporary restraining order application, according to filings referenced in IFW Global’s reports. Attorneys now point to potential U.S. claims spanning securities fraud under Section 10(b), racketeering (RICO), common‑law fraud, conversion, and unjust enrichment, and affected investors have been directed to file complaints with the Securities and Exchange Commission, Commodity Futures Trading Commission, and the FBI’s IC3 portal.
What Ahmed’s latest sale means for CVX and DeFi Ahmed’s March 19 liquidation is the most aggressive on-chain move from Mochi‑linked wallets since the 2021 Curve incident and is being read by many affected investors as confirmation that the locked CVX will be used for exit liquidity rather than restitution. With roughly 500,000 CVX still locked on Convex Finance and controlled via the same governance structure, any further sales could become major liquidity events for CVX and reignite questions over how DeFi protocols respond when governance power is acquired through exploits rather than open‑market buying. Ahmed, described in IFW documentation as a UK citizen, has not publicly responded to the latest allegations, and his social media profiles have been inactive for months.
PANews reported on August 1st that according to Coingecko data, six of the top 300 cryptocurrencies by market capitalization have seen monthly gains exceeding 100% over the past 30 days. The specific gains are as follows:
Zora (ZORA) rose 746.5% and is currently trading at $0.0698; Rekt (REKT) rose 208.3% and is currently trading at $0.0000008631; Conflux (CFX) rose 183.9% and is currently trading at $0.2114; Pudgy Penguins (PENGU) rose 134.4% and is currently trading at $0.03333; Ethena (ENA) rose 125.5% and is currently trading at $0.5862; Story (IP) It rose 102.7% and is now priced at $5.88. WEMIX (WEMIX) rose 94.6% and is now priced at $0.773. Convex Finance (CVX) rose 85.1% and is now priced at $4.14. Qubic (QUBIC) rose 82.1% and is now priced at $0.000002518. Bonk (BONK) rose 79.6% and is now priced at $0.00002554.
Author: PA一线
This content is for market information only and is not investment advice.
Binance, the world’s largest crypto exchange by trading volume, has announced that 11 altcoins are facing a potential delisting.
On Monday, Binance extended its “monitoring tag” to Balancer (BAL), Cortex (CTXC), PowerPool (CVP), Convex Finance (CVX), Dock (DOCK), Kava Lend (HARD), IRISnet (IRIS), MovieBloc (MBL), Polkastarter (POLS), Status (SNT) and Sun (SUN).
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Binance says tokens with monitoring tags are more volatile and risky than other crypto assets. The exchange monitors and conducts “regular reviews” of tagged tokens.
Says Binance,
“Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform.”
Binance users who want to trade tokens with monitoring tags have to pass quizzes every 90 days, designed to make users aware of the risks associated with the digital assets.
The exchange also removed two assets from its monitoring tag list: Enzyme (MLN) and Horizen (ZEN).
Enzyme is an on-chain asset management system that aims to enable access to digital assets and decentralized finance (DeFi) from one unified app. The project’s native token, MLN, is trading at $22.21 at time of writing and is up nearly 30% in the past 24 hours.
Horizen bills itself as a privacy-focused network of blockchains. The project’s native token, ZEN, is trading at $7.13 at time of writing. The 393rd-ranked crypto asset by market cap is up over 5% in the past 24 hours.
