Covalent: Strategic Token Buyback and Technology Upgrade Drives $CXT Demand

Crypto data provider Covalent has taken a proactive step in bolstering its token economics through a strategic buyback of 900,000 $CXT tokens in August. This move reduced the circulating supply by nearly 1% over the past year, a significant indication of their commitment to long-term sustainability. By reducing inflation and strengthening token value, Covalent is positioning itself for increased demand in the competitive Web3 landscape.