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.
