Covalent (CQT) Cryptocurrency Surges by +50% Today, Checkout What's driving it

Covalent CQT cryptocurrency, witnessed an impressive surge of over +50% within the past 24 hours today.

By Nilesh Hembade.

Date: 01-10-2023 15:00 PM IST

Covalent, the cutting-edge big-data technology leveraging cryptocurrency platform, has seized the spotlight in the world of digital assets as its native cryptocurrency token, $CQT, witnessed an impressive surge of over +50% within the past 24 hours. This remarkable gain has propelled $CQT to the position of the top gainer in the cryptocurrency market today.

As of the time of writing, $CQT is trading at $50.01422, showcasing an astonishing gain of +51.01% over the last 24 hours alone. This surge has sent shockwaves through the crypto community, capturing the attention of both seasoned and novice investors alike.

The market capitalization of $CQT has now soared to a substantial $86 million, highlighting the increasing interest and confidence that investors are placing in this particular digital asset. Covalent’s journey to becoming a significant player in the cryptocurrency space is certainly on an upward trajectory.

What’s Behind the Surge of Covalent’s $CQT Token?

Several factors have contributed to the recent surge in the value of the Covalent $CQT token, with the most prominent being its breakout from a major resistance level that occurred just today.

Source: TradingView

For the past 45 days, the price of the CQT token has been testing a formidable resistance level at $0.094. This level had proven to be a formidable barrier, frustrating investors who eagerly awaited a breakthrough. Today, that anticipation finally paid off as Covalent’s $CQT token experienced a significant and long-awaited breakout.

This breakthrough has been met with excitement and optimism in the cryptocurrency community. The $CQT token’s ascent has sparked discussions about its potential, and many investors are now closely monitoring its performance as it continues to gather momentum.

As the crypto market evolves and continues to adapt to changing dynamics, tokens like $CQT from projects like Covalent are proving that they have the potential to disrupt and reshape the industry. This recent surge is a testament to the resilience and innovation within the cryptocurrency space, and it reminds us that opportunities for growth and profit are ever-present.


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