Surprise Altcoin Launches Major Buyback Program! Announces Radical Change!
While Ethereum (ETH) and many altcoins continue to be adopted by major corporations as part of their treasury strategy, the latest news came for a very surprising altcoin.
At this point, the Covalent team announced the launch of the Covalent Strategic Reserve to power the Covalent X Token (CXT).
Accordingly, Covalent announced the launch of the Covalent Strategic Reserve, a multi-year locked reserve funded by on-chain and off-chain revenues, including periodic CXT buybacks.
The Reserve aims to accumulate approximately 10% of the total CXT supply within a few years. At that point, the plan will utilize both on-chain and off-chain revenue, including regular CXT buybacks.
The Covalent team stated that it aims to reduce market volatility for CXT by creating reserves.
26 million tokens were bought back in 2025, providing governance oversight for future releases.
In 2025 alone, over 17 million CXT were repurchased through off-chain revenue-backed buybacks and 9.05 million CXT through daily automated on-chain buybacks, for a total of 26 million tokens.
CXT rose following the news, but has since pared back most of its gains. CXT continues to trade at $0.015.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Economic Impact of Incorporating AI in Sectors Driven by Data
- Global AI infrastructure investments by tech giants like Alphabet and Microsoft are projected to reach $315B in 2025, generating $15T in economic value by 2030 through automation and analytics. - The U.S. leads with $470B in AI infrastructure funding (2013-2024), driven by cloud expansion expected to hit $3.4T by 2040, creating fragmented markets for consolidation. - Data-centric ecosystems (e.g., JHU, ICP Caffeine AI) enable pharmaceuticals and finance firms to build competitive barriers via proprietary
Internet Computer (ICP) Price Rally: Business and Academic Integration Driving Growth
Solana's Abrupt Plunge: Is This a Warning Sign for Cryptocurrency Traders?
- Solana's 2025 crash saw 11% price drop to $125.94 amid $19B liquidation, exposing systemic risks in high-speed blockchain ecosystems. - Technical vulnerabilities like centralized validator sets and thin liquidity amplified volatility, contrasting with Bitcoin/Ethereum's resilient infrastructure. - Governance flaws including token distribution bottlenecks and speculative attacks highlighted Solana's susceptibility to sudden supply shocks. - Macroeconomic pressures and leveraged positions triggered cascadi
The Federal Reserve's Change in Policy and Its Growing Influence on Cryptocurrencies Such as Solana
- Fed's 2025 policy shift (rate cuts, halted QT) boosted crypto liquidity but amplified altcoin volatility, particularly for Solana (SOL). - Solana's 14% late-2025 price correction highlighted altcoin fragility amid macro uncertainty, despite regulatory clarity and institutional adoption growth. - GENIUS Act's stablecoin reserves mandate and Solana's technical advantages drove $11B stablecoin expansion, linking macro policy to on-chain activity. - Future crypto resilience depends on Fed easing pace and ext
Trending news
MoreCrypto prices
More
