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Covalent is a data provider for blockchain networks, offering a unified API that allows developers to access detailed, granular blockchain data. It aggregates information from various blockchain networks, providing a comprehensive overview and facilitating easy access to blockchain data for developers, businesses, and researchers.The Covalent X Token (CXT) is the native utility token of the Covalent Network. It serves multiple purposes, including staking, governance, and settlement of transactions. Operators stake CXT to perform network operations and earn rewards, while the token is also used for governance and network security. Payments for API queries are made in stablecoins, which are converted to CXT to pay operators, ensuring demand for the token

Covalent will use its financing to expand into Asia and bolster the adoption of long-term data availability in countries such as China and Singapore.

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