Metric: In Q2 alone, Covalent processed over 471M API calls, bringing our cumulative total to over 17 billion across 100+ supported blockchains.
Importance: Over 95% of these calls are paid and revenue-generating. Most testnets are farmed. This is real flow, from real agents, driving real protocol revenue.
Metrics: Covalent crossed a major milestone with over 1% of the supply is bought back off the market via the protocol. There is a planned future burn mechanism to turn the token deflationary.
Importance: The protocol operates reflexively: real usage drives revenue, which in turn fuels buybacks.
Metrics: As of Q2, over 300 million CXT has been staked by validators and delegators, representing 33.6% of the circulating supply.
Importance: One-third of supply is voluntarily locked, reducing sell pressure and aligning validators with long-term network health.
Metrics: CXT has over 98% of the supply circulating and investor unlocks done over 2 years ago.
Importance: Zero looming vest cliffs. With unlock risk behind, there’s minimal sell pressure.
Metrics: Data Advantage: Broadest multichain coverage in the industry, with built-in support for agents and automation. Over +100 Chains supported through GoldRush.
Importance: No other infra player combines this level of reach and agent-native streaming. Agents plug in once, go anywhere.
Metrics: Since the launch of the Sub-Second Data Co-Processor in Q2, over ~57k concurrent subscriptions for the new Streaming API on GoldRush (primarily HFT, Agents, and bots on Base).
Importance: Explosive growth in onchain HFT, agent, and bot usage. Sub-Second Data is here, agents are here, and the market is growing.
Metrics: Developer Ecosystem: 50,000+ developers and 100+ applications rely on Covalent for mission-critical data across DeFi, Gaming, RWA, Tax, and Analytics.
Importance: Massive installed base across DeFi, gaming, RWAs, and tax. Every new vertical or chain strengthens the data flywheel.
Metrics: Decentralized, verifiable, and scalable infrastructure is not easily replicated. Hard to fork.
Importance: Most competitors are centralized APIs or incomplete networks. Covalent runs onchain, fast, and verifiable.
Metrics: Over 95% of the product usage is paid. Product-market fit is real.
Importance: Unlike subsidized usage seen in other services, it’s paying clients from HFT at hedge funds, apps, and bots.
Metrics: Notable Clients, Partners & Backers: Wormhole, Fidelity, EY, Consensys, Chainalysis, OpenSea, Lens, Jump, Ondo and growing roster of institutional and consumer applications. Backed by Coinbase, Binance Labs, 1kx, Woodstock, Hashed, and Maelstorm.
Importance: CXT is quietly embedded into the most important infra, financial, and AI networks of the next cycle.