Convex Finance TVL Rises Nearly $29 Million Over Six Days

Convex Finance’s total value locked (TVL) rose $28.98 million across six days through Wednesday, Oct. 21, while UTC-dated historical values put CVX higher than the previous day.

Daily TVL snapshots increased from $567.66 million on Thursday, Oct. 15, to $596.64 million on Wednesday, Oct. 21, a gain of about 5.1%. The Oct. 21 figure was still $26.90 million, or roughly 4.3%, below the $623.54 million recorded Oct. 1.

A separate figure for Oct. 21 listed TVL at $595.47 million, $1.17 million below the daily snapshot. The six-day comparison uses the daily snapshot for both dates; the two Oct. 21 figures are not interchangeable.

TVL measures the dollar value of coins held in a protocol’s smart contracts. Because it is measured in dollars, the total can change when asset prices move, even if the number of coins held stays the same. New deposits can also be offset by falling asset prices. The increase alone does not show how much came from new deposits versus price changes.

UTC-dated historical values put CVX at $2.62 on Wednesday, Oct. 21, compared with $2.40 on Tuesday, Oct. 20, a rise of about 9.2%. Trading volume on Oct. 21 was $16.89 million. The price figures are date-based values, rather than an unqualified market close.

CVX is used in Convex’s staking and governance systems. Stakers can earn a share of earnings connected to Curve and Frax liquidity pools, while vote-locking CVX requires a lock of at least 16 weeks. CVX also appeared in an earlier market roundup.