Share this article
Blockchain Data Project Covalent Sells $10M of Native CQT Token
The CoinList sale resulted in 14,000 new holders of the token, Covalent said.
Updated Sep 14, 2021, 12:52 p.m. Published May 10, 2021, 2:00 p.m.
Make us preferred on Google
Blockchain data provider Covalent has sold $10 million worth of its CQT native token in a sale on distribution platform CoinList.
STORY CONTINUES BELOW
- The firm said Monday that public sale comprised 3.5% of the total CQT supply, with 14,000 individuals or entities holding the token as a result.
- CQT is used as the platform's currency enabling interactions between the network's users, as well as a staking asset for validators who earn fees for answering queries from developers. Token holders also have rights to vote on the governance of the project.
- “Consumers of blockchain data want fast and easy access to data without the pain of dealing with individual blockchain data structure idiosyncrasies,” said Graham Jenkin, CEO of CoinList. “The Covalent team gets this.”
- To provide its data services, Covalent has indexed eight blockchains: Ethereum, Polygon, Binance Smart Chain, Polkadot, Cosmos, Avalanche, Fantom and Elrond.
- The firm closed funding rounds in October 2020 and March 2021, totaling over $5 million. The more recent round included contributions from Binance Labs, Coinbase Ventures and Delphi Ventures.
See also: Lightweight Mina Blockchain Raises $18.7M in CoinList Token Sale
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin's Quantum threat is ‘real but distant,’ says Wall Street analyst as doomsday debate rages on
Wall Street broker Benchmark argued the crypto network has ample time to evolve as quantum risks shift from theory to risk management.
What to know:
- Broker Benchmark said Bitcoin’s main vulnerability lies in exposed public keys, not the protocol itself.
- Coinbase’s new Quantum Advisory Council marks a shift from theoretical concern to institutional response.
- Bitcoin’s architecture is conservative but adaptable, according to Benchmark analyst Mark Palmer, with a long runway for upgrades.
Top Stories
