August was a defining month for @Covalent_HQ: speed, scale, and the $CXT flywheel all in motion.
- 900k $CXT bought back in August, over 7.7M in the past year, supply shrinking for good.
- MiCA-compliant listing on Revolut, giving $CXT exposure to 60M+ users.
- GoldRush upgrades pushed sub-second data for AI agents, HFT bots, and builders on 150+ chains. Latency, not throughput, is now the bottleneck. Covalent is solving it.
- Ecosystem momentum with HyperEVM, AwakenTax, Base, and the launch of the $200K WallChain leaderboard.
The real takeaway: Covalent’s tokenomics are not narrative-driven but revenue-backed. Every query = revenue → buybacks → deflationary loop. This is what a sustainable onchain data economy looks like.
It reminds me of @peaq in the machine economy, both are building infra where utility feeds directly into the value loop. That’s the kind of design that compounds over time.
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