What is happening to COVA? I know the markets have been bearish over the last week but the $COVA 24-hour trading volume has really dropped off. On 06/01 there was nearly $1m trading volume, now there is less than $100k!? I hope we can see more positive trading sentiment over the next month or so.
Volume isn't a constant thing especially for newer networks, hype and demand will shift from day to day especially if people aren't actively day trading it trying to skim profits, it's pretty traditional for smaller projects to have big and low days, i'd imagine were just in some slow, days without demand for the network yet as it's still heavily in development any real volume is mostly based on guesswork and early hodlers And maybe people who wanted to buy their COVAs to hodl them now have gathered enough and aren't day-trading anymore. At least that's my explanation. However, I wouldn't worry too much about the current trading volume. Better to have a small volume with sustainable growth than a PnD scheme. |
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By 2 tokens, does it mean they both will be functional or only one of them will be functional?, this is my first time of hearing about this and i think an in-depth knowledge of the process is required in order to give the community a clear vision of what they intend they do and i will also love to have the link where i can read about the swap statement
Well, I can only quote you, what an admin from their Telegram group posted some time ago: "Regarding the chain, we have two chains at the moment: 1. one on ETH network. This one is just for a secure transaction and smart contracts 2. CovaChain. This is where we store metadata and encrypted secret bits (which are put together by routing nodes to generate decryption keys). ETH network is not suitable for this as storing larger data on ETH is still cost prohibitive. In addition, abstract our collection of TEE nodes are part of this CovaChain as it provides secure computation infrastructure." |
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I just found out COVA tokens could be mined much more easily on the mainnet as long as you have a computer with Inter CPU, you can join the network and mine COVA.
Yeah, but that'll be only possible when the CovaChain mainnet goes live. Right now COVA only has tokens on the Ethereum blockchain and these can't be mined. The launching of Covalent mainnet would make a lot of difference. We could mine these tokens and make profits. Btw would cova tokens be moved from ether chain to cova. ? I think there was a discussion recently, but I forgot the result:-) Some say there will be two tokens, others say there will be a swap and then only one token. I am also of the opinion that there will be a swap. Yes, we had this discussion and if I remember correctly, they will have 2 different tokens. So no swap as far as I know. But I could be wrong. Best is to keep checking their Telegram. If there are any news, I am sure they will announce it there. |
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I just found out COVA tokens could be mined much more easily on the mainnet as long as you have a computer with Inter CPU, you can join the network and mine COVA.
Yeah, but that'll be only possible when the CovaChain mainnet goes live. Right now COVA only has tokens on the Ethereum blockchain and these can't be mined. |
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It was really one of the most informative vlog about them. It will going to attract more people on how great this project is once it become fully implemented. It will change a lot! Yeah they featured every details you needed to know about them and how that'll work! They have some heavy techy thing which is complicated for any regular man! But they kind of explained the whole thing in a few words! Covalent looks more technical and would need more YouTube to talk about it. You could search on google, there are a couple more interesting articles about Covalent and how it works. Well, they already have a Youtube video where they explain their project in detail. But yeah, I also prefer a nice video over a long text. |
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Covalent has a very low token supply. Just 1.1 billion. Also, team tokens are locked. That’s impressive of the team. Any dump in price isn’t from the team. But the community that’s the reason why the value is quite stable.
Hmm, well I wouldn't say that 1.1 billion is a very low supply, to be honest. Sure, there are projects with a much higher supply but I would prefer an even lower total supply. Does anyone know if the supply will decrease over time (token burning or something like that)? You're right, probably they are fixated at the fact that they have so much to offer and maybe the demand will be higher than the supply, well, at the moment, its all about getting things up and running and creating the needed avenue for the community to actually seek out their token, that's all that's needed and such will create a balance of the available quantity that's in circulation, do they have any plans of burning token? I checked their website and their Telegram group and I don't think that they have a plan to burn tokens. At least not yet. yeah, they don't have plans to burn token i believe they have other methods of ensuring tokens retain their value. Cova looks like a great project I also heard that your tokens will get deemed a Security token if you have token burn programs. So it's better not to have it. Otherwise, you would just get problems with the SEC. |
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Apparently, Bitmax will introduce margin trading to its exchange, COVA was recently listed on their platform and it will be eligible for margin trading. I wonder if many people will take up the option, you will either get rekt or strike it rich!  Will BitMax really introduce margin trading on all their trading pairs including Cova? I thought they will only start with BTC, ETH and EOS? And do you have an exact date when they will enable it? |
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Covalent has a very low token supply. Just 1.1 billion. Also, team tokens are locked. That’s impressive of the team. Any dump in price isn’t from the team. But the community that’s the reason why the value is quite stable.
Hmm, well I wouldn't say that 1.1 billion is a very low supply, to be honest. Sure, there are projects with a much higher supply but I would prefer an even lower total supply. Does anyone know if the supply will decrease over time (token burning or something like that)? You're right, probably they are fixated at the fact that they have so much to offer and maybe the demand will be higher than the supply, well, at the moment, its all about getting things up and running and creating the needed avenue for the community to actually seek out their token, that's all that's needed and such will create a balance of the available quantity that's in circulation, do they have any plans of burning token? I checked their website and their Telegram group and I don't think that they have a plan to burn tokens. At least not yet. |
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I must say, I haven't heard of Bitgur so far so I am a bit surprised COVA got listed there. What is this site exactly? Is it something like coinmarketcap or Blockfolio? |
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Covalent has a very low token supply. Just 1.1 billion. Also, team tokens are locked. That’s impressive of the team. Any dump in price isn’t from the team. But the community that’s the reason why the value is quite stable.
Hmm, well I wouldn't say that 1.1 billion is a very low supply, to be honest. Sure, there are projects with a much higher supply but I would prefer an even lower total supply. Does anyone know if the supply will decrease over time (token burning or something like that)? |
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I know for sure that China is currently observing their national holiday this month of January
Did that also affects Cova operations?
This is a very smart question, I don't know for a fact if it will affect operations, but thinking like every entrepreneur should, I don't think any celebration should affect any ongoing project especially long holidays like that of the Chinese Actually they haven't been quite active recently which tells a lot I really want to know the current update as against whats obtained now Yeah, they've been very quiet the last two weeks. Probably all of them had Christmas holidays:-) But they are back and posted the new bi-weekly update yesterday: https://blog.covalent.ai/blog/bi-weekly-updates-vol-7Yeah, they were a bit quiet on Twitter over the last days. However, I don't see the need for daily tweets. For me, these bi-weekly updates are enough. |
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Glad to see the price of Cova has recovered. Today among the Top 20 Biggest Gainers of the day on CMC.
Now probably all of them have sold their Airdrop tokens. Soon there will be no cheap tokens anymore:-)
have they distributed their airdrop token i would really like to know because i am expecting tokens from the team, i personally believe cova will be an all-time gainer they have some cool tech idea COVA conducted airdrop? Is this still available and open for all? I know they dont have any bounties apart from BitMax trading bounty. I don't think so that their airdrop still is opened. I mean I didn't saw anything latests information/discussion about it. yeah, you are right i asked a similar question in their telegram channel and the admin said their airdrop is still on-going so token distribution is not yet ready I thought they have rounded up with their airdrop campaign and tokens were distributed already. There is still opportunity to gain some Cova tokens.please can you share the link so i can participate Best way to get COVA tokens is now by trading them on an exchange since there is no Airdrop running atm. They are listed both on Huobi and Bitmax. |
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Did you check their 7th bi weekly updates? It's really good to see those developments again! Every are really waiting until this project will going to fully launch.
Yeah I did. I don’t miss any. It’s interesting to see Blockchain technology get so deep into age old problems and solves them in months. I can’t wait to see the mainnet. Their previously bi-weekly reports were all on Medium. Seems like they created their own blog on their website now. I really like it. And it also seems like the testnet is improving every day. |
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Yeah, I read this article when they published it. However, I have no experience in programming at all so I can't really contribute to the project but the example of Ethereum shows that open source works. Last year Ethereum was in the top 5 of the fastest growing open source projects on Github. Impressive. Ethereum is one opens source project that has gained adoption widely. Covalent recorded 30x ETH TPS during the testnet, I think it has a better chance on github. I wouldn't say that only because of the testnet results. I mean, sure the Cova statistics from their testnet look impressive but Ethereum has a much wider adoption already and a huge community. And both projects aren't comparable so I don't think that they will compete for Github developers. |
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Glad to see the price of Cova has recovered. Today among the Top 20 Biggest Gainers of the day on CMC.
Now probably all of them have sold their Airdrop tokens. Soon there will be no cheap tokens anymore:-)
have they distributed their airdrop token i would really like to know because i am expecting tokens from the team, i personally believe cova will be an all-time gainer they have some cool tech idea COVA conducted airdrop? Is this still available and open for all? I know they dont have any bounties apart from BitMax trading bounty. I don't think so that their airdrop still is opened. I mean I didn't saw anything latests information/discussion about it. yeah, you are right i asked a similar question in their telegram channel and the admin said their airdrop is still on-going so token distribution is not yet ready So that you mean to say, we can still apply to their airdrop? Could you give me link of airdrop so also take the benefits? What he means with on-going is probably that they haven't distributed the tokens. I don't think that it's possible to register for the Airdrop anymore. |
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Yeah, I read this article when they published it. However, I have no experience in programming at all so I can't really contribute to the project but the example of Ethereum shows that open source works. Last year Ethereum was in the top 5 of the fastest growing open source projects on Github. |
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ICOs have a hard time raising some money right now. So it's a good idea to wait a bit before starting the tokensale. Who knows, maybe the market has recovered until then and the sentiment for ICO investments changed to the better.
True. ICOs are having tough time. For me this is a real pressure test. If it survives this bad time, then this should be a strong project in the future. a lot of projects have either paused or are completely out of the market due to the market condition, neuroneum is truly impressive for trying to succeed in the face the current dilemma I am just wondering what their softcap is and what would happen in case they won't reach it? Would the whole project have to be cancelled? |
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Glad to see the price of Cova has recovered. Today among the Top 20 Biggest Gainers of the day on CMC.
Now probably all of them have sold their Airdrop tokens. Soon there will be no cheap tokens anymore:-)
I was actually surprised knowing that; I was away for the holidays and before leaving it wasn't doing that well; It is great that they managed to recover properly. Hope this sticks. They promised lots of surprises this year, and getting top of CMC chart was one. I think Covalent team would need more time in getting the full product launched this year. It’s a vital project that would change the way we live. I’ll expect they take it slowly but steady. getting on CMC was achieved last year already! they have a great team and looks like they are expending it too! many great engineer joined their team recently! we sure can expect some more development in coming days!! Do you have some insider information? Seems like I totally missed it that they added new staff to their team. Could you share a link where they announced the addition to their team? |
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Glad to see the price of Cova has recovered. Today among the Top 20 Biggest Gainers of the day on CMC.
Now probably all of them have sold their Airdrop tokens. Soon there will be no cheap tokens anymore:-)
have they distributed their airdrop token i would really like to know because i am expecting tokens from the team, i personally believe cova will be an all-time gainer they have some cool tech idea The Airdrop tokens distributed over Bitmax are locked, so you can't sell them at the moment. I don't know what this looks like with tokens that Cova sent directly (or not yet). Do you know how many tokens they distributed over Bitmax and how long they will be locked? Do you think it could have an effect on the price when they get unlocked and tradeable? |
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Glad to see the price of Cova has recovered. Today among the Top 20 Biggest Gainers of the day on CMC.
Now probably all of them have sold their Airdrop tokens. Soon there will be no cheap tokens anymore:-)
have they distributed their airdrop token i would really like to know because i am expecting tokens from the team, i personally believe cova will be an all-time gainer they have some cool tech idea That would be interesting to know. If they already have distributed the airdrop tokens that would mean that the airdrop participants probably already sold their tokens and they won't be able to dump anymore. |
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