Covalent Q3 2025: Accelerating the CXT Flywheel
Q3 showed how momentum compounds through the CXT flywheel. More chains, new products, and stronger demand for ultra-fast, verifiable data drove usage, revenue, and millions of CXT buybacks. With a new major product that will embed the token directly into creation, liquidity and trading, the loop is compounding faster and faster.
Let's walk you through what made this quarter such a turning point.
By the Numbers
In Q3, Covalent processed over 215M API calls, bringing the cumulative total to 17.5B across 150+ supported blockchains. Of those, more than 95% were paid calls, reinforcing the strength and sustainability of Covalent’s revenue-driven model.
Network Economics
CXT Buyback
Throughout this quarter, Covalent bought back over 2.6M CXT from the open market through daily buybacks. In total, more than 8.4M CXT (0.83% of supply) has been repurchased onchain over the past year. With the token fully unlocked and future burns planned, these buybacks create lasting scarcity and strengthen the foundation of the economy.
Track the numbers: CXT Buybacks
Revolut Listing–MiCA Compliant
CXT was listed on Revolut, Europe’s largest fintech platform with 60M+ users.
With Revolut’s MiCA-only policy, the listing not only confirms CXT’s compliance but also secures its place on one of the most regulated consumer crypto venues worldwide.
Product Launches
SpeedRun: Prompt-to-Earn for Onchain Builders
The highlight of Q3 was introducing SpeedRun, a new platform that lets anyone build, remix and monetize onchain apps directly from prompts. Live in beta, it has already onboarded its first wave of OG builders who are creating templates, testing flows, and shaping the discovery engine ahead of the October public launch.
Why it matters:
This launch comes at a turning point. Traditional career paths are shrinking under automation and higher barriers to entry, while digital economies are creating new ways to build and earn. SpeedRun bridges this shift by combining GoldRush's ultra-fast data with one-click smart contract deployment and internet-native payments through the x402 protocol.With SpeedRun, builders of all skill levels can:
Prompt and deploy onchain apps instantly
Remix existing apps into new revenue streams
Earn XP, with CXT rewards to follow in the future
From DeFi dashboards to Farcaster frames and trading bots, SpeedRun turns prompts into programmable income streams for builders. In doing so, it embeds CXT into onchain creation, making the token essential to activity and accelerating the flywheel.
Public access begins soon! Keep updated on our socials for further updates.
Get all the details of SpeedRun in the blog here.
Community Activation
WallChain Mindshare Leaderboard Launch
We partnered with WallChain to launch the Mindshare Leaderboard, a campaign rewarding community voices shaping the narrative of sub-second onchain data with $200K in CXT over 5 months. Rankings are determined by the quality and frequency of contributions, ensuring authentic content will be recognized.
Growth and Smarter Rewards
The response has been immediate. On Messari Signals, we now ranks in the top 10 by mindshare, outperforming projects many times its size.
To keep pace with growth, WallChain rewards are being refined in Epoch 2 to:
Spark real competition with bigger top-end rewards
Keep the leaderboard dynamic with clear increases at every tier between ranks 4–25 and granular splits from rank 26–300
Structure rewards so participants outside the top 25 are still recognized
$40,000 in CXT for month 2 will be distributed across 300 ranks with clear jumps at each tier.We’re also working with WallChain to upgrade the algorithm to:
Reward high-effort, high-signal contributions
Filter out low-quality spam and brand misuse
Ensure fairness across both frequency and quality
Covalent WallChain “Quackers” are actively building a community, and these refinements ensure rewards reflect the quality behind that work.
Ecosystem Expansion
New Chain Integrations
We added two new chains to our roster of 150+ supported chains this quarter. Hyperliquid's HyperEVM is now live on GoldRush’s Foundational API, giving builders structured onchain data for trading, agents, and analytics. Sonic is fully indexed through our Ultra-Fast Data Co-Processor, enabling sub-second data streaming for high-frequency apps and AI-driven automation.To mark the launch of HyperEVM, we sponsored the Hyperliquid Hackathon, bringing GoldRush infrastructure directly to builders experimenting with trading-native applications.Participants gained:
Full access to HyperEVM’s indexed data and real-time streams
A dedicated workshop from our Head of DevRel, Harish, on building with the Streaming API
Custom bounties for the best projects leveraging GoldRush and Covalent infrastructure
Base: Built for Speed
In August, we published a report on how Base became crypto’s fastest-growing chain. With over $3.4B bridged, 47,000 creator tokens minted, and $36M in weekly DEX volume.The key insight wasn’t just growth, it was speed. As HFT bots and automated flows scale, the real edge comes from reaction time. That’s why Base has been supported on the GoldRush Streaming API from day one, delivering sub-second events, balances, and swaps so apps can react instantly.
Read the full report here.
GoldRush Updates
New Customers
More projects are choosing GoldRush’s API for fast, structured blockchain data. Here are several notable teams that signed up in Q3:
Opensea: As the largest NFT marketplace, the team is using GoldRush to strengthen wallet, token, and activity tracking, giving its community faster and more reliable access to structured onchain data.
Planet Moon: This Web3 gaming studio is building new digital worlds and economies, powered by GoldRush to track player assets, in-game transactions, and cross-chain activity without the overhead of custom infra.
Backpack: The fast-growing multichain wallet and exchange has integrated GoldRush to deliver smoother token balance tracking and clearer transaction visibility for both traders and everyday users.
Trustblock: Focused on compliance and analytics, the platform relies on GoldRush’s reliable multichain data to monitor activity, detect anomalies, and deliver transparency at scale.
New Case Studies
Two new case studies this quarter highlight a simple truth: real businesses need reliable and fast onchain data. Awaken and Bleap show how GoldRush delivers exactly that.
Awaken Tax
Awaken scales crypto tax reporting for 100,000+ wallets across EVM chains and Bitcoin using GoldRush’s decoded transactions, unified schema, and enterprise-grade reliability. This allows them to deliver accurate, audit-ready reports without maintaining their own indexing stack.
Read the full case study here.
Bleap
Stablecoins are meant to be simple, but fragmentation across chains has made them hard to use in the real world. Bleap is fixing that with an all-in-one finance app all powered by GoldRush. With a unified data layer, Bleap delivers the real-time balances and seamless payments experience.
Read the full case study here.
More GoldRush Updates
This quarter, GoldRush expanded its capabilities with new endpoints and performance upgrades:
Enhanced Bitcoin Support: Full Bitcoin data coverage from genesis with complete transaction history, spot and historical balances, and support for HD and non-HD addresses. Dedicated Bitcoin nodes ensure reliable data for wallets, explorers, and analytics. Check it out here.
Update Pairs Stream: Ultra-fast DEX pair updates now available for USD price, volume, market cap, and liquidity across Ethereum, Base, BNB Chain, Sonic, and more in the near future. Sub-second streams are ready to power compliance tools, trading systems, and AI agents. Check it out here.
Full Speed Ahead
This quarter showed how it all connects. Ultra-fast, verifiable data powers apps and agents, driving GoldRush usage. Usage creates revenue, revenue fuels CXT buybacks, and buybacks strengthen the network. With SpeedRun live in beta and the community growing, CXT is becoming the engine driving onchain creation, liquidity, and value across Covalent.
Heading into Q4, expect more chain integrations, deeper agentic data flows, and the public launch of SpeedRun. Our focus remains the same: making blockchain data better, faster, and cheaper for developers everywhere to power the next cycle of apps, agents, and onchain economies.
Explore more:
Thank you for being part of the journey. With the momentum from Q3, the months ahead will push the CXT flywheel faster and set the stage for an even stronger close to the year 🫡.
