Preço de CXT Hoje

What is Covalent (CXT)?

 

Covalent (CXT) is the utility token of the Covalent Network, a decentralized blockchain data infrastructure network designed to extract, verify, transform, preserve, and deliver structured onchain data. Covalent provides historical and real-time blockchain data used by applications such as wallets, analytics platforms, artificial intelligence systems, and other services that require reliable access to blockchain information.

 

The Covalent Network has developed infrastructure for standardizing data across more than 100 blockchains. Its data products include GoldRush, a multichain API for wallets, dashboards, and AI agents, alongside infrastructure for preserving and verifying historical blockchain data.

 

A major component of Covalent's architecture is the Ethereum Wayback Machine (EWM), which was developed to address long-term data availability and verifiability. The EWM preserves historical Ethereum data and provides cryptographic and economic mechanisms intended to ensure that blockchain datasets remain accessible and verifiable over time.

 

CXT, or the Covalent X Token, secures Covalent's decentralized data infrastructure. Network Operators stake CXT to participate in data extraction, verification, transformation, and storage. Other token holders can delegate CXT to eligible operators, while CXT also provides voting rights over specified network parameters.

 

CXT replaced Covalent's former CQT token in July 2024 following a community governance vote. Existing CQT balances were migrated to CXT at a 1:1 ratio, while the original supply remained unchanged at 1 billion CXT. CQT has since been deprecated for Covalent staking, governance, security, and other network utility.

 

Quick Summary

 

• Covalent is blockchain data infrastructure designed to extract, structure, verify, preserve, and deliver onchain data.

   

• CXT is the Covalent Network utility token used for network security, operator participation, delegation, rewards, and governance.

   

• CXT replaced CQT: the migration occurred in July 2024 at a 1:1 ratio following a governance vote.

   

• Total supply: the CQT-to-CXT migration preserved the original 1 billion-token supply.

   

• Ethereum-based staking: Covalent migrated its primary staking infrastructure from Moonbeam back to Ethereum during the New Dawn initiative.

   

• Ethereum Wayback Machine: Covalent developed the EWM to preserve and verify long-term historical Ethereum data.

   

• Network Operators: specialized operators extract, transform, verify, and preserve blockchain data while using CXT as cryptoeconomic security.

   

• Delegation: CXT holders who do not operate infrastructure can delegate tokens to eligible operators and potentially receive a share of network rewards.

   

• Governance: CXT holders can vote on supported proposals affecting Covalent Network parameters.

   

• Data for AI and Web3: Covalent's structured historical and real-time data can support wallets, analytics, financial applications, AI agents, and other onchain services.

   

Background & Entry Into Crypto

 

Covalent was founded in 2018 with the goal of making blockchain data easier for developers and applications to access.

 

Public blockchains contain enormous amounts of transparent information, but converting raw blockchain transactions, logs, traces, token activity, and smart contract events into useful application data requires substantial infrastructure.

 

Developers can operate their own blockchain nodes and construct custom indexing systems, but doing so across many networks requires significant engineering resources.

 

Covalent developed a standardized blockchain data layer that extracts information from supported networks, processes it into consistent schemas, and makes the resulting information available to downstream applications.

 

This infrastructure evolved into a decentralized network supported by specialized operators. Covalent introduced CQT as the original token used for staking, operator incentives, and governance.

 

As the network expanded, Covalent moved beyond being primarily an API and blockchain query provider. Its strategy increasingly focused on verifiable data infrastructure, artificial intelligence, and long-term data availability.

 

In 2024, Covalent launched the New Dawn initiative, a series of network and tokenomic changes designed to support this broader mission.

 

One major change involved migrating staking operations from Moonbeam back to Ethereum. Another involved replacing CQT with CXT.

 

The Covalent community approved the CXT migration in July 2024. CXT was deployed on Ethereum and distributed to CQT holders according to the migration snapshot.

 

The migration did not increase the initial token supply. CXT maintained the 1 billion-token supply inherited from CQT, while CQT was deprecated for Covalent Network utility.

 

Major Contributions & Impact

 

Covalent's main contribution to Web3 is its attempt to create a standardized, verifiable, and persistent data layer for an increasingly fragmented multichain ecosystem.

 

Structured Multichain Data

 

Every blockchain organizes and exposes information differently. Even networks using similar virtual machines can differ in contracts, indexing requirements, metadata, and application structures.

 

Covalent processes blockchain information into standardized schemas, allowing developers to interact with data from many networks through a more consistent interface.

 

This infrastructure can process information such as token transfers, decentralized exchange activity, smart contract events, transaction traces, token metadata, balances, and other onchain activity.

 

The resulting structured datasets can then be used by wallets, analytics platforms, financial applications, dashboards, AI systems, and other services.

 

GoldRush

 

GoldRush is Covalent's multichain blockchain data API platform.

 

It provides developers with access to standardized blockchain information without requiring every application to independently operate and maintain indexing infrastructure for each supported network.

 

Covalent provides both historical and real-time data delivery, with infrastructure designed to maintain consistent schemas across supported chains.

 

GoldRush can support use cases including wallets, portfolio interfaces, analytics tools, dashboards, financial applications, and AI agents that need structured onchain information.

 

Ethereum Wayback Machine

 

The Ethereum Wayback Machine (EWM) is Covalent's infrastructure for preserving and verifying long-term historical Ethereum data.

 

Long-term data availability is becoming increasingly important as blockchain networks scale and their historical datasets grow.

 

Applications, researchers, financial institutions, and AI systems may require access to historical information long after it was originally produced.

 

The EWM is designed to maintain this historical information in a structured and verifiable form instead of depending exclusively on centralized archival providers.

 

Covalent's network operators contribute to this system by producing, processing, verifying, and preserving blockchain data artifacts.

 

Block Specimen Producers and Block Result Producers

 

Covalent has developed specialized operator roles for its decentralized data infrastructure.

 

Block Specimen Producers (BSPs) extract raw blockchain data and produce standardized Block Specimens containing information required by the network.

 

Block Result Producers (BRPs) process Block Specimens and perform computations that transform raw information into structured data designed for downstream consumption.

 

These operator roles allow data processing to occur through specialized infrastructure while CXT provides economic security around operator participation.

 

Covalent has also explored lighter-weight verification roles intended to broaden participation in checking the accuracy and integrity of network data.

 

Cryptoeconomic Data Verification

 

CXT adds an economic security layer to Covalent's data infrastructure.

 

Network Operators must stake CXT to participate in eligible network roles. This creates economic collateral that can help encourage correct behavior.

 

Operators can receive CXT for honestly performing data extraction, verification, transformation, and related network work, while applicable penalties can discourage incorrect or dishonest activity.

 

CXT holders who do not operate infrastructure can also delegate tokens to eligible operators, adding additional economic security to the network.

 

Blockchain Data for Artificial Intelligence

 

Covalent has increasingly positioned its infrastructure around the intersection of blockchain data and artificial intelligence.

 

AI models and agents require large quantities of structured, reliable information. Public blockchains provide extensive datasets, but raw blockchain data can be difficult for AI systems to consume directly.

 

Covalent's standardized historical and real-time datasets can provide AI applications with structured information about transactions, assets, smart contracts, wallets, decentralized exchanges, and other onchain activity.

 

Verifiability can become particularly important when automated systems use blockchain data to make financial or operational decisions.

 

Influence on the Crypto Industry

 

Covalent operates within an important but less visible layer of blockchain infrastructure: data availability, indexing, transformation, and verification.

 

Blockchain applications depend on data infrastructure even when end users never interact directly with the underlying provider.

 

A cryptocurrency wallet, for example, may need to display token balances, transaction histories, NFT positions, decentralized finance activity, and portfolio values across several networks. Obtaining and organizing that information directly from each blockchain can require substantial infrastructure.

 

Covalent seeks to provide a common data layer that reduces this complexity.

 

The Ethereum Wayback Machine expands this role by addressing the long-term preservation of blockchain history. As Ethereum and its scaling networks produce increasing amounts of data, maintaining accessible historical records becomes a larger infrastructure challenge.

 

Covalent's use of CXT also demonstrates how token incentives can be applied to decentralized data infrastructure. Instead of using a token primarily for payments between traders, CXT provides cryptoeconomic security for operators responsible for producing and verifying data.

 

The network's growing focus on AI adds another potential demand source for structured blockchain datasets as AI agents become more active within the onchain economy.

 

Traders researching CXT can monitor crypto live prices to compare Covalent with trends affecting blockchain infrastructure, data networks, AI-related crypto projects, Ethereum, and the wider digital-asset market.

 

Role

 

CXT is the utility, staking, security, reward, and governance token of the Covalent Network.

 

Network Operators stake CXT as economic collateral when participating in eligible data extraction, transformation, verification, and storage roles.

 

CXT holders who do not operate the required infrastructure can delegate tokens to eligible Network Operators. Delegators can receive a proportional share of eligible network rewards after applicable operator commissions and protocol conditions.

 

CXT also provides governance rights over supported Covalent Network parameters.

 

Governance can address matters such as operator staking requirements, delegation limits, reward parameters, network incentives, and other defined operational settings.

 

These governance rights relate to the decentralized Covalent Network and do not represent ownership or management rights in Covalent's corporate entities.

 

CXT vs. a Traditional Exchange Token

Feature	Traditional Exchange Token	Covalent (CXT)
Core Environment	Centralized cryptocurrency exchange	Decentralized blockchain data infrastructure
Primary Utility	Trading discounts and platform benefits	Network security, staking, delegation, rewards, and governance
Operator Role	Usually none	CXT provides economic security for blockchain data operators
Governance	Varies	CXT holders can vote on supported network parameters
Total Supply	Varies	1 billion CXT under the current supply structure
Major Value Drivers	Exchange adoption and trading activity	Data demand, network usage, staking, operator participation, AI adoption, and governance

 

How Covalent Works in Practice

 

• Blockchain data is extracted: Covalent infrastructure obtains raw information from supported blockchain networks.

   

• Block Specimens are produced: specialized operators package blockchain information into standardized data artifacts.

   

• Data is transformed: processing infrastructure converts raw blockchain information into structured results suitable for applications.

   

• Data is preserved and verified: Covalent's decentralized infrastructure provides mechanisms for maintaining and checking historical blockchain datasets.

   

• CXT secures participation: eligible operators stake CXT as economic collateral for their network roles.

   

• Delegators add security: other CXT holders can delegate tokens to eligible operators and participate in network rewards.

   

• Applications consume the data: wallets, dashboards, analytics services, AI agents, and other applications can use Covalent's structured blockchain datasets.

   

• CXT holders govern parameters: token holders can participate in supported governance proposals affecting the network.

   

Notable Quotes

 

Covalent describes its current mission around providing “Verified Data Powering AI and the Onchain Economy.”

 

This positioning reflects the network's evolution from a blockchain query and API provider toward broader decentralized data infrastructure.

 

Covalent also describes CXT as the token securing its data infrastructure, emphasizing the cryptoeconomic guarantees that staking adds to blockchain dataset integrity.

 

The term “Ethereum Wayback Machine” summarizes another major part of Covalent's strategy: creating infrastructure capable of preserving and verifying Ethereum's historical record over the long term.

 

Legacy, Net Worth, and Future Outlook

 

Legacy: Covalent has operated in blockchain data infrastructure since 2018 and has evolved from an API-focused project into a decentralized network for structured and verifiable onchain data.

 

Its standardized data architecture has sought to reduce the complexity developers face when building applications across many blockchains.

 

The Ethereum Wayback Machine expanded the project's scope into long-term data availability, while the CXT migration aligned its token with this broader network mission.

 

Net worth: the Covalent Network is decentralized infrastructure and does not have a conventional corporate net worth. More useful network indicators include CXT market capitalization, circulating supply, total CXT staked, number of operators, data demand, API usage, supported networks, and revenue generated from data consumers.

 

These indicators change over time and should be checked through current network and market data rather than treated as fixed values.

 

Future outlook: Covalent's future strategy increasingly connects blockchain data infrastructure with the growth of the broader onchain economy and artificial intelligence.

 

Wallets, financial applications, AI agents, analytics systems, and institutional services all require reliable blockchain information. If onchain economic activity continues expanding, demand for standardized and verifiable data infrastructure could increase alongside it.

 

Covalent has also been working toward a more sustainable reward structure in which network incentives become increasingly connected to revenue generated by actual data consumption rather than depending indefinitely on bootstrapping emissions.

 

In 2026, Covalent governance discussed transitioning toward revenue-linked rewards funded by API usage and expanding participation in data validation through lighter-weight clients.

 

The precise infrastructure roadmap remains subject to technical development and governance. For example, Covalent previously explored moving parts of network operations to Base but later reconsidered the approach as Base's own architecture evolved.

 

Long-term success will depend on developer adoption, data-consumer revenue, operator reliability, decentralization, staking participation, AI-related demand, competition, and the network's ability to preserve accurate blockchain information at scale.

 

Key Aspects of CXT’s Tokenomics

 

CXT has a current total supply of 1 billion tokens, inherited from the original CQT supply.

 

The transition from CQT to CXT did not create a larger initial supply. Existing CQT holders received CXT according to the migration process, including eligible balances held in self-custody, staking contracts, exchanges, and custodial services.

 

CXT was introduced as the successor to CQT following a community governance vote in July 2024.

 

Key CXT Tokenomics Characteristics

Characteristic	CXT
Token Name	Covalent X Token
Ticker	CXT
Primary Network	Ethereum
Total Supply	1,000,000,000 CXT
Predecessor Token	CQT
Migration Ratio	1 CQT to 1 CXT
Core Utility	Network access, staking, delegation, security, rewards, and governance

 

CQT to CXT Migration

 

The transition from CQT to CXT was one of the final components of Covalent's New Dawn initiative.

 

The community approved replacing CQT with CXT to better represent Covalent's expanded mission around modular data infrastructure, artificial intelligence, and long-term data availability.

 

The migration snapshot was taken in July 2024 and eligible CQT holdings were converted to CXT at a 1:1 ratio.

 

Covalent announced completion of the migration in August 2024. CQT was subsequently deprecated and is no longer supported by Covalent for staking, security, governance, or other network utility.

 

This distinction is important when researching historical Covalent materials because documentation published before the migration may refer to CQT even when describing functions now performed by CXT.

 

CXT Staking

 

CXT staking provides economic security for the Covalent Network.

 

Eligible Network Operators commit CXT while performing data-related work. Token holders who do not want to operate infrastructure can delegate CXT to supported operators.

 

Delegators can receive an eligible portion of operator rewards according to the amount delegated, operator commission, performance, network parameters, and other applicable conditions.

 

Covalent migrated its primary staking operations back to Ethereum during the New Dawn initiative, simplifying participation compared with the previous architecture that involved Moonbeam and cross-chain bridging.

 

Staking rewards are not fixed returns. Reward rates can change through network conditions, governance decisions, operator performance, staking participation, and changes to the network's incentive model.

 

CXT Emissions and Network Rewards

 

Covalent initially used token reserves to bootstrap operator and delegator participation.

 

The CXT contract technically supports additional minting, but the CXT migration itself did not introduce new inflation and preserved the 1 billion-token supply inherited from CQT.

 

Future token issuance, if implemented, is subject to Covalent's governance process and can be used for purposes such as community initiatives and network security incentives.

 

In 2026, Covalent governance addressed the remaining bootstrapping reward pool and proposed reducing existing reward emissions to extend its runway while the network prepared for a more sustainable economic model.

 

The proposed next stage connects rewards more directly to revenue generated by network data usage and to participants who validate Covalent data.

 

This represents a potential transition from primarily reserve-funded security incentives toward a model more closely connected to actual network demand.

 

CXT Governance

 

CXT holders can participate in decentralized governance concerning defined Covalent Network parameters.

 

Governance proposals have addressed subjects including staking requirements, operator delegation multipliers, network migrations, reward emissions, token migration, and infrastructure development.

 

Voting weight can be proportional to eligible CXT holdings under the applicable governance process.

 

CXT governance does not provide shareholders' rights or ownership in Covalent corporate entities. Its governance scope concerns specified aspects of the decentralized network.

 

What Are CXT’s Main Use Cases?

 

• Network security: CXT provides cryptoeconomic collateral supporting the integrity of Covalent's decentralized data infrastructure.

   

• Operator staking: eligible Network Operators stake CXT to participate in blockchain data extraction, verification, transformation, and related roles.

   

• Delegation: CXT holders can delegate tokens to supported operators instead of running specialized network infrastructure themselves.

   

• Network rewards: eligible operators and delegators can receive CXT for contributing honestly to network security and data operations.

   

• Governance: CXT holders can participate in supported proposals affecting network parameters and development.

   

• Operator access: staking CXT is part of the economic requirements for participating in specified Covalent Network operator roles.

   

• Data integrity: CXT staking creates economic incentives for operators to produce and verify accurate blockchain information.

   

• Trading: CXT is transferable and can be traded independently of staking or operator participation.

   

What Are the Risks and Ethical Concerns of CXT?

 

• Infrastructure adoption risk: Covalent's value proposition depends on continued demand for its blockchain data products and decentralized infrastructure.

   

• Operator risk: network reliability depends partly on operators correctly extracting, transforming, verifying, and preserving data.

   

• Delegation risk: delegators depend on operator performance and should evaluate commissions, reliability, staking conditions, and applicable penalties.

   

• Staking risk: CXT committed to network security can be subject to lockups, protocol conditions, changing rewards, and other staking-related constraints.

   

• Smart contract risk: Covalent's staking, governance, bridging, and other blockchain infrastructure can contain vulnerabilities despite audits and security reviews.

   

• Tokenomics risk: future CXT issuance and reward structures can evolve through governance, affecting supply and participant incentives.

   

• Revenue-transition risk: moving from reserve-funded emissions toward usage-linked rewards requires sufficient network revenue to support sustainable incentives.

   

• Governance concentration: large CXT holders can potentially exert greater influence over token-weighted governance decisions.

   

• Competition: Covalent competes with centralized and decentralized blockchain indexing, API, data availability, analytics, and infrastructure providers.

   

• AI demand uncertainty: increased AI adoption could create demand for structured blockchain data, but this market remains highly competitive and rapidly evolving.

   

• Regulatory risk: staking, utility tokens, decentralized infrastructure, and cryptocurrency markets can face changing regulatory requirements across jurisdictions.

   

• Market volatility: CXT can experience substantial price movements independently of Covalent's technical development or network usage.

   

How to Get Started with CXT

 

• Explore Covalent's current blockchain data infrastructure, GoldRush products, Ethereum Wayback Machine, and CXT ecosystem through the official Covalent website.

   

• Understand that CXT replaced CQT in 2024 and that older Covalent documentation may use the former ticker when discussing historical network architecture.

   

• Before staking or delegating CXT, review current operators, commissions, reward rates, lockup conditions, network parameters, and applicable risks.

   

• Review governance proposals to understand how staking requirements, emissions, infrastructure, and network economics are evolving.

   

• Trade CXT through CXT/USDT on CoinW Spot.

   

• When transferring CXT, verify the supported blockchain network and destination address before submitting the transaction.

   

• Monitor data demand, operator participation, CXT staking, governance activity, API usage, network revenue, AI integrations, and broader blockchain-infrastructure trends.

   

FAQs

 

1. What is Covalent?

   Covalent is blockchain data infrastructure that extracts, transforms, verifies, preserves, and delivers structured historical and real-time onchain data for applications, developers, financial services, analytics platforms, and AI systems.

    

2. What is CXT?

   CXT, or Covalent X Token, is the utility token of the Covalent Network. It is used for network security, operator staking, delegation, rewards, and governance.

    

3. What happened to CQT?

   CQT was Covalent's previous network token. Following a community governance vote, CQT was replaced by CXT in July 2024 and migrated at a 1:1 ratio. CQT is now deprecated for Covalent Network utility.

    

4. What is the total CXT supply?

   The CQT-to-CXT migration maintained the original supply of 1 billion tokens. The migration itself did not increase the token supply.

    

5. What is the Ethereum Wayback Machine?

   The Ethereum Wayback Machine is Covalent infrastructure designed to preserve and verify Ethereum's historical blockchain data over the long term, providing structured information for downstream applications and services.

    

6. What is GoldRush?

   GoldRush is Covalent's multichain blockchain data platform. It provides standardized historical and real-time blockchain information for wallets, dashboards, analytics applications, AI agents, and other software.

    

7. Can CXT be staked?

   Yes. CXT is used as economic security by Covalent Network Operators. Eligible holders can also delegate CXT to supported operators and potentially receive a share of network rewards.

    

8. What are Block Specimen Producers?

   Block Specimen Producers are Covalent Network Operators responsible for extracting blockchain information and producing standardized data artifacts used by the network's processing and verification infrastructure.

    

9. What are Block Result Producers?

   Block Result Producers process blockchain data and perform computations that transform Block Specimens into structured results suitable for downstream applications and data consumers.

    

10. Does CXT provide governance rights?

    Yes. CXT holders can participate in supported Covalent governance proposals concerning specified network parameters. These rights do not represent ownership in Covalent's corporate entities.

     

11. Why is Covalent relevant to AI?

    AI systems and agents require structured and reliable information. Covalent processes raw blockchain activity into standardized historical and real-time datasets that can be consumed more easily by AI-powered applications.

     

12. What drives CXT's value?

    Potential factors include demand for Covalent data, network revenue, operator participation, staking demand, governance activity, AI adoption, blockchain growth, token supply dynamics, market liquidity, and broader cryptocurrency conditions.

     

13. Where can I trade CXT?

    CXT can be traded through the CXT/USDT spot market on CoinW.

     

Conclusion

 

Covalent is building decentralized infrastructure for extracting, structuring, verifying, preserving, and delivering blockchain data.

 

Its evolution from a multichain API provider toward a broader verifiable data network reflects the growing importance of reliable blockchain information for wallets, financial applications, analytics platforms, artificial intelligence, and the wider onchain economy.

 

The Ethereum Wayback Machine extends this mission into long-term data availability by creating infrastructure designed to preserve and verify historical Ethereum information.

 

CXT provides the cryptoeconomic layer supporting this network. Operators stake CXT to participate in eligible data infrastructure roles, delegators can contribute additional economic security, and token holders can participate in governance.

 

CXT replaced CQT in 2024 through a governance-approved 1:1 migration while preserving the original 1 billion-token supply. CQT is now deprecated for Covalent Network utility.

 

Covalent's longer-term economic strategy increasingly aims to connect network rewards with actual data-consumption revenue and decentralized verification rather than relying indefinitely on bootstrapping emissions.

 

The future of CXT will therefore depend on demand for Covalent's data, operator reliability, staking participation, governance, network revenue, AI and Web3 adoption, technical execution, competition, and broader cryptocurrency-market conditions.

 

References / Sources

 

• Covalent Official Website

   

• Covalent: Day Zero of the New Dawn - Welcome CXT

   

• Covalent: Completion of the CXT Token Migration

   

• Covalent: CXT Migration and Tokenomics Proposal

   

• Covalent CXT MiCA Whitepaper

   

• CoinW Spot: CXT/USDT

   

 

Sign up with CoinW to buy, sell, and manage crypto easily.

 

About CoinW: Founded in 2017, CoinW is a global cryptocurrency trading platform offering a wide range of spot and futures markets.