Covalent (CXT) will buy back 10% of its Arz through a Buyback Program.

Recently, the activity in the cryptocurrency market has drawn the attention of investors. One of the most noteworthy examples is the new buyback program announced by Covalent (CXT). CXT has gained approximately 0.5% in value in the last 24 hours and is currently trading at $0.0157. With these steps, Covalent aims to further increase the interest of its investors.

Covalent plans to buy back approximately 10% of its supply through its newly launched "Covalent Strategic Reserve" program. This program will be financed by revenues generated from both on-chain and off-chain activities. The proposed buybacks will require community voting to enhance transparency. By aiming to gain the trust of investors, Covalent plans to ensure economic sustainability in this way.

According to the announcements, Covalent plans to buy back a total of 17 million CXT solely through off-chain revenues within 2025. Additionally, 9.05 million CXT will be removed from circulation through automated daily on-chain purchases. This strategy is considered an important step aimed at maintaining the price stability of CXT and reducing supply pressure.

These developments are quite intriguing for investors; as regular buyback processes will contribute to the growth of the Covalent ecosystem. Covalent's strategic plans should be closely monitored by altcoin investors. The upcoming buybacks and community votes may impact the CXT price and present long-term investment opportunities.