VELVET (Velvet) rose 117.68% in the last 24 hours

Gate News Bot news, August 7, according to CoinMarketCap, as of the time of writing, VELVET (Velvet) is currently priced at $0.10, with a rise of 117.68% in the last 24 hours, reaching a high of $0.10 and a low of $0.04. The current market capitalization is approximately $24 million, an increase of $13 million compared to yesterday.

Velvet is a DeFi trading and portfolio management operating system powered by intent and AI. It offers a smart execution engine that allows users to trade any token like professionals, access top DeFi protocols with one click, and explore or create high-performance portfolios. Whether looking for the next 100x return opportunity or compounding yields in the vault, Velvet is committed to making DeFi seamless and smooth. Currently, over 25,000 users have traded over $100 million on Velvet.

Recent important news about VELVET:

1️⃣ The launch of the new trading platform drives the price rise VELVET will be listed for spot trading on the new trading platform on August 4, 2025, at 19:30 (SGT). This initiative significantly expands the liquidity and accessibility of VELVET, providing more investors with trading opportunities, thereby driving a substantial rise in price.

2️⃣ Multi-currency synchronization launch increases attention VELVET launched simultaneously with several other well-known projects, such as Polygon ecosystem's POL, Starknet's STRK, and Conflux Network's CFX. This combination launch strategy may have sparked more investor interest, indirectly boosting the demand for VELVET.

3️⃣ Withdrawal function will be opened soon The announcement shows that the withdrawal function of VELVET will be opened on August 7, 2025, at 19:00 (SGT). This information may have stimulated some investors to lay out their positions in advance, allowing for flexible operations after the withdrawal opens, leading to a concentrated surge in buying demand in the short term.

From a technical perspective, the significant pump of VELVET in a short period may trigger a certain degree of correction. However, considering the incremental capital inflow brought by the launch of new trading platforms and the innovative nature of the Velvet project itself in the DeFi field, the medium to long-term trend remains worthy of attention.

This message is not intended as investment advice; investors should be aware of market volatility risks.