started · updated
Velvet token surges 721% following launch of Velvet X platform
The Velvet token has experienced a significant price rally, increasing by 721% over the last 90 days. The asset recently cleared the $1 resistance level, turning it into a support level, with a market capitalization of approximately $402.67 million.
This growth is largely attributed to the launch of Velvet X, a SocialFi trading platform. Velvet X introduced synthetic leveraged perpetuals that allow users to trade on pre-IPO shares of major companies such as SpaceX, OpenAI, and Anthropic.
Market activity has intensified alongside the price surge. Trading volume rose by 392% to $71 million, while derivatives volume saw a 390% increase to $432 million. Open Interest also reached a monthly high of $63 million, indicating a substantial influx of capital into new positions.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Velvet's market cap is approximately $402.67 million. bitcoinethereumnews.com · nulltx.com
- [● 2 SOURCES] Velvet X is a SocialFi trading platform combining AI, social trading, real-time discovery, and execution. bitcoinethereumnews.com · nulltx.com
- [● 2 SOURCES] Velvet X expanded into synthetic leveraged perpetuals on pre-IPO shares of companies including SpaceX, OpenAI, and Anthropic. bitcoinethereumnews.com · nulltx.com
- [○ 1 SOURCE] Open Interest for Velvet reached a monthly high of $63 million. ambcrypto.com
- [● 2 SOURCES] The Velvet token has increased in value by 721% over the past 90 days. bitcoinethereumnews.com · nulltx.com
- [○ 1 SOURCE] The Velvet token cleared the $1 resistance level and converted it into support. ambcrypto.com
- [○ 1 SOURCE] Derivatives volume for Velvet surged 390% to $432 million. ambcrypto.com
- [○ 1 SOURCE] Velvet's trading volume climbed 392% to $71 million. ambcrypto.com