Covalent Announces Listing of CXT on Bitstamp, Marks Important Milestone in Global Expansion

by
Alyssa Davidson

Posted: January 17, 2025 1:59 AM Updated: January 17, 2025 1:59 AM

by well

Correction and fact check date: January 17, 2025, 1:59 AM

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Covalent, a provider of modular data infrastructure for blockchain networks, announced that its token, CXT, is now officially tradable on cryptocurrency exchange Bitstamp. Bitstamp, one of the oldest and most popular exchanges in the European Union, provides the platform for CXT’s expansion. This listing represents an important milestone in directly introducing the Euro-CXT fiat trading pair and making it more conveniently accessible for European users.

Bitstamp’s strong presence in Europe improves the availability of CXT, positioning it for broader adoption in the global market. These developments are consistent with Covalent’s strategic efforts to expand the reach of CXT, laying the foundation for continued growth within the cryptocurrency and blockchain ecosystem.

Bitstamp’s listing follows a series of developments for CXT, including its recent integration with Base via Aerodrome. This move highlighted CXT’s increasing utility in bridging centralized and decentralized blockchain environments. Collectively, these developments strengthen CXT’s role in driving the next generation of blockchain applications and supporting innovation in decentralized finance (DeFi), decentralized applications (dApps) and the broader blockchain sector.

CXT plays an important role in Covalent’s vision to enable decentralized data infrastructure. The token contributes to a data-driven, decentralized future by facilitating access to blockchain data for developers and innovators across 100+ blockchain networks. Listing on Bitstamp not only improves accessibility for European users, but also strengthens the bridge between centralized exchanges and decentralized ecosystems.

By securing a listing on a well-established exchange like Bitstamp, CXT continues to solidify its presence within the blockchain space, providing greater opportunities for users and investors alike. The increased availability means the token is now accessible to millions of users on Bitstamp, enabling seamless trading via the direct Euro-CXT trading pair. This list builds on recent milestones, including launches on Base via Aerodrome and further reinforces CXT’s importance in advancing blockchain development and adoption across the decentralized ecosystem.

Covalent’s CXT Token Debuts on Base

Covalent serves as the core modular data infrastructure layer supporting the blockchain and AI ecosystem, providing access to over 100 billion pieces of structured and verifiable data across 100+ blockchain networks. Developers leverage Covalent’s platform to create tokenized, on-chain AI agents capable of optimizing DeFi yields, identifying fraudulent activity, assessing non-fungible token (NFT) scarcity, and automating compliance processes. By enabling these advanced features, Covalent contributes to the broader advancement of distributed technologies.

Monthly revenue grew consistently by 15% with 22 billion paid application programming interface (API) queries processed in less than 4 months (used for CXT token buybacks) and over 30% of the total CXT supply staked on Ethereum. . Covalent’s ecosystem, the Wayback Machine, continues to expand. The platform has garnered the attention of prominent industry players including Ondo Finance and THORChain, strengthening its role in shaping the Web3 data economy.

Recently, Covalent announced the deployment of its CXT token on Base, an Ethereum Layer 2 scaling solution developed by Coinbase. This integration strengthens Covalent’s position within the Ethereum ecosystem while fostering deeper connectivity with one of the most widely adopted layer 2 networks.