The Venice AI token gained attention and reached $1.0 billion. Despite the 40% drop in VVV’s price, Binance began futures trading.
A day after its launch, the Venice AI token (VVV) is under intense selling pressure, falling more than 40% today. Within hours of launch, the VVV airdrop achieved a fully diluted valuation of over $1.0 billion, creating tremendous excitement in the market.
The VVV price has dropped from $18 to $10.69, while its daily trading volume has increased by 114% to $136.1 million. Additionally, the cryptocurrency exchange Binance declared the opening of trading contracts for VVVUSDT futures.
Venice AI Token Gains Market Attention
There has been a lot of interest in the Venice AI token since its recent introduction. Investors and traders are taking notice of VVV’s quick rise in market capitalization, listings on several exchanges, and impending airdrop announcements.
Eric Voorhees, a Bitcoin supporter, created Venice AI, a privacy-focused AI platform. Because of worries that its model gathers user data and transmits it to China, DeepSeek has come under fire. However, Voorhees says, “None of it is going anywhere while you use DeepSeek through the Venice AI app.”
50% of the VVV token supply was issued yesterday as part of the Venice AI token airdrop, which rewarded early network adopters of the AI community protocol.
Earlier this week, the platform’s developers said users who buy and stake VVV will have unrestricted, continuous access to its API for private, uncensored generative writing, graphics, and code using AI models like the recently released DeepSeek R-1.
VVV Token Are Listed on Binance Futures
On January 29, 2025, Binance Futures will introduce the VVVUSDT Perpetual Contract, adding more trading choices to its portfolio. Users will have more trading flexibility with the new contract’s up to 25x leverage.
The VVVUSDT perpetual contract’s maximum funding rate at launch will be +2.00% / -2.00%. Binance will also provide Multi-Assets Mode, enabling users to trade the contract with Bitcoin and other margin assets. However, this will depend on the appropriate haircuts.
Will the Price of VVV Rise Again?
The price of VVV fell 40% during today’s selloff in the cryptocurrency market, and it is now trading at just around $10. The somewhat diluted valuation (FDV) has also dropped, currently at $1.02 billion after formerly at $1.65 billion.
According to cryptocurrency expert Bitecorn, market makers purposefully drive lower prices in the latest VVV price movement. Bitecorn claims three different descending channels show accumulation before a possible upward breakout that would invalidate fictitious bearish formations and liquidate shorts.
“Despite the current price suppression, I’m confident in this setup and holding spot positions, predicting a significant move higher eventually,” the analyst said, highlighting their long-term optimistic stance for Venice AI coin.
