Altcoins are gaining popularity as analyst Michaël van de Poppe thinks a sustained Bitcoin rebound might revive interest in the sector.
- The jump in VVV token’s price came after co-founder Erik Voorhees announced on Monday that Venice’s privacy-focused AI platform VVV had crossed $100 million in annualized revenue
- VVV’s market cap now stands at around $688 million, around 7 times its annualized revenue run rate, drawing interest from crypto investors looking for AI exposure.
- Venice launched a new AI-powered Doodle feature that enables users to turn freehand sketches into generated images, joining the revenue milestone with a product catalyst.
Venice’s native token (VVV) jumped in morning trade on Tuesday, outpacing Bitcoin (BTC), after a revenue milestone from the privacy-centric artificial intelligence (AI) platform sparked new buying interest.
The rise in VVV’s price came after co-founder Erik Voorhees on Monday stated on X that Venice had crossed $100 million in annualized revenue.
VVV is the utility token of Venice, a privacy-centric AI platform built on the Coinbase (COIN) Base blockchain that allows users to run AI models without their data being stored or shared. VVV's market cap stands at approximately $688 million, placing it at roughly seven times its annualized revenue run-rate.
VVV's price jumped more than 20% to around $14.50 at the time of writing, while Bitcoin’s price rose around 1%, steady above the $64,000 mark. On Stocktwits, retail sentiment around VVV moved to the ‘bullish’ zone from the ‘neutral’ zone, while chatter around it shifted to ‘high’ from ‘extremely low’ over the past day.
