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
Retailers Navigate Profit and Ethics in a Technology-Focused, Responsible Age
- Retailers adopt AI for supply chain optimization, with 90% planning deployment and 40% automating inventory/shipment tasks via agentic AI. - Cybersecurity spending rises (35% allocate >$50k/year) as retailers address data privacy risks and legacy system integration challenges. - Sustainability drives emission reductions (Rackspace -10% 2023-24) and renewable energy goals, while Coca-Cola balances pricing strategies amid competitive pressures. - Ethical AI debates intensify: Microsoft bans erotic chatbots
Bitcoin News Today: Bitcoin’s Battle: Federal Reserve Signals, Market Fluctuations, and Shifting Regulatory Landscape
- Bitcoin surged past $112,000 amid Fed policy optimism and ETF inflows, but analysts warn of persistent volatility due to mixed signals and geopolitical tensions. - The Fed's exploration of crypto payment accounts signals potential institutional adoption, though price remains trapped in a $107k–$112k consolidation phase. - SEC-approved Bitcoin ETFs drew $87B in inflows, contrasting with Ethereum ETF outflows, while XRP ETF delays highlight regulatory uncertainty. - Geopolitical tensions and $557M in 24-ho
AI Opportunities and Challenges: Are Individual Investors Able to Bridge the Gap?
- AI is transforming retail investing by enabling dynamic, contrarian strategies through platforms like Sagehood.ai’s hybrid human-AI index, which outperformed hedge funds with 38% YTD returns. - C3.ai faces lawsuits over governance failures and unrealistic projections, contrasting with AI-driven firms that emphasize transparency and diversified applications. - Institutional players like BlackRock are scaling AI investments in crypto, ETFs, and infrastructure, signaling growing confidence in AI-powered cap
Mutuum Finance Strengthens DeFi Lending with Enhanced Security and Community Focus Ahead of November
Trending news
MoreCrypto prices
More
