Venice AI token (VVV) is facing massive selling pressure a day after its launch crashing more than 40% today. The VVV airdrop triggered a massive buzz in the market while achieving a fully diluted valuation of over $1.0 billion within hours of launch. After its drop from $18, the VVV price is currently trading at $10.69 with its daily trading volume surging 114% to $136.1 million. Moreover, crypto exchange Binance announced the launch of VVVUSDT futures trading contracts on the exchange.
Venice AI Token Grabs the Limelight
The recent launch of the Venice AI token has sparked significant interest. The rapid growth of VVV’s market cap, listings on multiple exchanges, and upcoming airdrop announcements have drawn attention from both investors and traders.
Venice AI has emerged as a privacy-focused AI platform, developed by Bitcoin advocate Eric Voorhees. DeepSeek has faced criticism due to concerns that its model collects user data and sends it to China. However, Voorhees stated that “When you use DeepSeek through the Venice AI app, none of it is going anywhere”.
Yesterday, the Venice AI token airdrop distributed 50% of the VVV token supply while rewarding early platform adopters of the AI community protocol. Earlier this week, the platform developers stated that those who purchase and stake VVV will gain free, ongoing access to its API for private and uncensored generative text, images, and code, while utilizing AI models such as the newly launched DeepSeek R-1.
Binance Lists VVV Futures
Binance Futures is expanding its range of trading options by launching the VVVUSDT Perpetual Contract on January 29, 2025. The new contract will offer up to 25x leverage, providing users with greater trading flexibility.
At launch, the maximum funding rate for the VVVUSDT perpetual contract will be +2.00% / -2.00%. Additionally, Binance will offer Multi-Assets Mode, allowing users to trade the contract using multiple margin assets, including BTC. However, this will be subject to applicable haircuts.
Will VVV Price Recover From Here?
Amid the broader crypto market selloff today, the VVV price came crashing down by 40% and is currently trading just above $10. Similarly, the fairly diluted valuation (FDV) has crashed from $1.65 billion to $1.02 billion as of now.
Crypto analyst Bitecorn suggests that recent VVV price action is being driven by market makers intentionally pushing prices lower. According to Bitecorn, three distinct descending channels indicate accumulation before a potential upward breakout that could liquidate shorts and invalidate artificial bearish patterns.
Source: Bitecorn
“I’m confident in this setup and holding spot positions, expecting a significant move higher eventually,” the analyst stated, emphasizing their long-term bullish outlook for Venice AI token despite current price suppression.
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