Covalent Price

There are two schools of thought when it comes to determining the price of a cryptocurrency like Covalent.
By way of intrinsic value: Intrinsic value is typically assessed through on-chain metrics, project metrics, and financial metrics of Covalent, collectively known as fundamental analysis. Factors such as the law of supply and demand, tokenomics, use case, project roadmap, and the regulatory and governance environment will influence the long-term value of Covalent.
By way of price action: technical analysis , using candlestick chart patterns and indicators like MACD, RSI, and Bollinger Bands, forecasts the price of Covalent on the basis that history tends to repeat itself.
Since candlestick charts reflect market sentiment, news announcements and community sentiment can also significantly influence the price action of Covalent.
Long-term investors usually favor fundamental analysis, while short-term traders often depend on technical analysis. In practice, combining both approaches can yield intriguing scenarios for Covalent and the broader cryptocurrency market.

Covalent achieved the all-time high of $2.08 in 2021-08-14, and is currently trading at $0.003578.

Covalent reached its all-time low of $0.001664 on 2024-07-19.

The current market cap of Covalent is $3.06M, as 856.17M CQT is trading at the price of $0.003578.

There are currently 856.17M CQT circulating in the market. These Covalent can be actively traded or used in the open market.

The maximum supply of CQT is 1B , which includes its circulating supply, locked or staked supply, and the supply that has yet to be mined, minted, or created.

At the moment, the fully diluted market cap, also called the fully diluted value (FDV) of Covalent is $3.57M. The FDV is calculated taking the assumption that all supply of Covalent is circulation, multiplied by its current price of $0.003578.

Using an algorithm to automatically identify historical data trends, this Covalent price prediction adjusts its forecast from time to time based on current market conditions. With advanced machine learning, this prediction tool can help investors gauge market probabilities before making investment decisions.

Covalent offers a good potential ROI due to its inherent volatility, which presents numerous profit opportunities. However, this volatility is a double-edged sword, making it suitable for investors with high risk tolerance and a strong financial position. It is crucial to remember that Covalent and the broader crypto market are subject to extreme market conditions, regulatory changes, social media influence, and other unpredictable factors. Therefore, it is advisable to exercise risk management and do your own research (DYOR) before investing in Covalent.

You can buy Covalent via Gate by following the steps on how to buy CQT once you have funded your account.