An under-the-radar cryptocurrency has delivered stratospheric gains in recent months, while more popular premium cryptocurrencies have struggled.
VELVET Defies Crypto Bear Market
Velvet (VELVET), which operates primarily on BNB Chain (CRYPTO: BNB), has jumped 378% year-to-date.
What Sparked Velvet’s Rally
Velvet is an AI-powered decentralized finance operating system and trading terminal that streamlines onchain research, trading and portfolio management.
According to CoinMarketCap, the introduction of synthetic pre IPO products on the platform played a major role in boosting its price. Users were allowed to trade tokenized, leveraged pre IPO exposure directly from Velvet’s on-chain terminal.
“This surge was driven by intense trader interest in the SpaceX and AI pre-IPO markets,” CoinMarketCap said.
Price Action: At the time of writing, VELVET was trading at $0.6772, up 201.17% in the last 24 hours, according to data from Benzinga Pro.
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