Covalent

Halal Rating :
Questionable
Last Price $0.20 Last updated:
Rank 363
1D Change -10.53 %
Market Cap $135.49m
Circulating supply 686,658,970
Maximum supply 1,000,000,000

Crypto Overview

Categories
  • AI & Big Data
  • Enterprise Solutions
  • DeFi
  • Polkadot Ecosystem
  • Avalanche Ecosystem
  • Fantom Ecosystem
  • Near Protocol Ecosystem
  • Injective Ecosystem

Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of painstakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds. The Covalent API then sources end-users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface. Covalent has a global community. To fund the development of Covalent, there have been two private sales. The first was co-led by investors Woodstock Fund, 1kx Capital and Mechanism Capital while the second was led by Hashed with participation from Binance Labs, Coinbase Ventures, Delphi Ventures, Hypersphere Ventures, and other ecosystem partners. Most recently, Covalent successfully closed $10 million in funding from a CoinList Public Sale. This new funding brought the Covalent Query Token, CQT, to the public for the first time.

Crypto Impact

To assign a comfort level investing in Covalent from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Covalent.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

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Justification for our Halal Rating