CVX vs SUSHI
Convex Finance and SushiSwap scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
CVX scores 103 of 250 and ranks 124th of 251. SUSHI scores 74 and ranks 229th. CVX leads by 29 points, which is a wide enough margin that the framework is not ambivalent. CVX takes 23 of the 25 variables, SUSHI takes 0, and 2 are level.
The framework rates CVX WATCH and SUSHI PASS. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
No single variable separates CVX and SUSHI by as much as 3 points. The lead is broad rather than concentrated: CVX is ahead on 23 of 25 variables by one or two points each, which is what produces the composite gap without any one variable carrying it.
Both score 3 or below on Revenue Trend, Buyback and Burn, Smart Money Flows, TVL Trend, Active Users, Network Growth and 5 more. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
CVX is valued at $193.9M against $66.7M for SUSHI, a 2.9x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 4 | 3 | CVX +1 | |
| Revenue Trend | 3 | 2 | CVX +1 | |
| P/S Multiple | 5 | 4 | CVX +1 | |
| Real Staking Yield | 5 | 3 | CVX +2 |
Supply
| Supply Inflation | 6 | 4 | CVX +2 | |
| Vesting Schedule | 7 | 5 | CVX +2 | |
| Circulating / FDV Ratio | 7 | 6 | CVX +1 | |
| Buyback and Burn | 3 | 2 | CVX +1 |
Ownership
| Smart Money Flows | 3 | 2 | CVX +1 | |
| Insider Selling | 4 | 3 | CVX +1 | |
| Holder Concentration | 4 | 3 | CVX +1 |
Traction
| TVL Trend | 3 | 2 | CVX +1 | |
| Active Users | 3 | 3 | level | |
| Developer Activity | 4 | 3 | CVX +1 | |
| Network Growth | 3 | 2 | CVX +1 |
Position
| Market Share | 4 | 2 | CVX +2 | |
| Competitive Moat | 3 | 2 | CVX +1 | |
| Institutional Adoption | 3 | 2 | CVX +1 | |
| Exchange Depth | 5 | 4 | CVX +1 | |
| Social Mindshare | 3 | 3 | level |
Risk
| Regulatory Safety | 6 | 5 | CVX +1 | |
| Catalyst Calendar | 3 | 2 | CVX +1 | |
| BTC Alpha Potential | 3 | 2 | CVX +1 | |
| Team Execution | 4 | 2 | CVX +2 | |
| Treasury Runway | 5 | 3 | CVX +2 |
Bars read outward from the centre: CVX to the left, SUSHI to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| CVX | SUSHI | |
|---|---|---|
| Price | $2.08 | $0.2327 |
| Market cap | $193.9M | $66.7M |
| Circulating | 93.2% | 98.4% |
| Dilution to full supply | 1.07x | 1.02x |
| Off all-time high | -96.5% | -99% |
| To recover the high | 28.6x | 100x |
| Total value locked | $850.0M | $320.0M |
| Network | Ethereum | Ethereum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
CVX · WATCH
Curve network revival if stablecoin volumes recover
CVX value entirely derived from CRV bribe economics which are in secular decline; no independent utility
SUSHI · PASS
Sushi 2.0 multi-chain expansion and Trident AMM adoption
Persistent team turnover, governance dysfunction, and chronic underperformance vs Uniswap make this a structurally broken protocol
Common questions
- Is CVX or SUSHI the better investment?
- On this framework CVX scores higher: 103 against 74 of 250, and it is rated WATCH against PASS. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and CVX still wins 23 of the 25 individual variables against SUSHI.
- What is the biggest difference between CVX and SUSHI?
- Nothing separates them by more than 2 points on any of the 25 variables, which is unusual and means the two are close substitutes on fundamentals.
- Which is bigger, CVX or SUSHI?
- CVX is valued at $193.9M and SUSHI at $66.7M on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.