Covesting Module First Anniversary: COV Breaks $1, Latest Developments, & More
Dear community,
One year ago today, on April 2, 2020, the Covesting copy trading module made its full debut on the award-winning trading platform PrimeXBT, and the peer-to-peer trading community has grown substantially ever since.
Since then, a perfect storm has been brewing. A massive bull market has been breaking out in cryptocurrencies, bringing unprecedented demand and new user growth to the Covesting module, PrimeXBT, and the COV token.
To cap off what has already been an incredible first anniversary celebration, Covesting and COV token holders now have even more to celebrate with COV breaking above $1 for the first time in 2021.
Continuing with our celebration, we’re highlighting the top Strategies on Covesting one year later and taking a trip down memory lane to look back on how far the copy trading module has come in just one year. With COV Staking coming and more exciting updates in the near future, 2021 and beyond is brighter than ever for the Covesting community. Let’s celebrate!
Crypto Bull Market Blasts COV Utility Token Above $1
In a combination of excitement and anticipation of the Covesting module’s milestone first anniversary, the crypto bull market finally getting warmed up, regular token burns, and continued demand and usage within the Covesting copy trading module, has pushed the price per COV token over $1 for the first time in 2021.
COV token holders have so much to be celebrating, and things are only getting better for the utility token’s future. The newly expanded “My COV” section within the Covesting copy trading module on PrimeXBT is only a sign of what’s to come, highlighting the benefits offered to the trading community.
Followers can use the token to avoid entry fees for new followings, improve their profit share, and Strategy Managers can reduce trading fees. COV is trading on Kucoin, HitBTC, and Uniswap.
COV Staking Is Coming, Estimated For Q2 2021
A highly requested Staking mechanism will be added to COV, expected to be delivered in Q2 2021. When COV Staking launches, token holders will be able to benefit from multiple incentive schemes and be rewarded alongside the company’s general growth it sees in the future.
COV token demand is directly tied to our success, and we aim to share that success with the community that drives that demand.
Looking Back One Year Ago Through Now: Top Traders Reach 4,000% Profits
The Covesting copy trading module was built on a passion to launch a legendary trading product that spread by word of mouth like wildfire throughout the trading community, and we are proud one year later, we are well on our way to achieving that goal.
Top traders on the Covesting leaderboards are boasting as much as 4,000% in total profits currently, and the sometimes friendly, sometimes not-so-friendly, competition always brewing between traders using the module is pushing Strategy Manager to reach for five-star status and up their games.
Top Strategy Managers have amassed hundreds of followers each, and there have been stories told of life-changing wealth being generated through the platform — both for Followers and the Strategy Manager themselves. In one example, one Covesting trader turned $400,000 into $8 million in only four days, making their followers rich at the same time, and earning a fortune themselves in success fees.
As Follower capital grows, these users are then turning into Strategy Managers themselves, helping the community to grow further.
New ETH, USDT, and USDC Margin Accounts For Covesting Module Users
The Covesting copy trading module is exclusively available at PrimeXBT, an advanced CFD trading platform offering crypto, forex, commodities, and stock indices. The platform lets Covesting traders tap into today’s hottest markets, including Bitcoin, oil, silver, and much more, with long or short positions to profit from whichever direction the trend turns next.
The current bull market has led to explosive growth in Ethereum’s reach, as well as demand for cryptocurrency stablecoins. As such, PrimeXBT has chosen to enable additional options for margin accounts and multi-currency support for ETH, USDC, and USDT.
Bitcoin will continue to be offered and currently still represents the majority of Covesting Strategies. However, the introduction of new multi-currency accounts will offer Covesting traders a variety of benefits, including more options for portfolio diversification. Most of all, Covesting traders can now avoid any of the risks associated with using BTC as a base account margin currency.
By utilizing stablecoins as margin collateral, traders don’t need to adjust expectations around PnL due to unexpected Bitcoin or Ethereum volatility.
Reaching A Milestone And The Roadmap Ahead
There’s much more coming in the Covesting development roadmap pipeline, ensuring more anniversary celebrations with much more to celebrate for many more years to come.
Thank you to the community for making the Covesting copy trading module’s first year a resounding success. Join us in celebrating the achievement and in looking ahead at a bright future for Covesting, the community, and the COV token.
