$VELVET SpaceX / AI Concept Bubble Burst: VELVET previously surged over 1400% within a week (peaking near $1.83), entirely driven by speculative expectations such as the so-called "SpaceX Pre-IPO quota" and "AI trading terminal." The fundamentals are severely disconnected: data shows that the protocol's actual locked-in amount (TVL) and other real usage metrics are extremely low (at the time, staking deposits were only about $840k), yet it triggered hundreds of millions of dollars in trading volume. When the negative news of insider addresses dumping was exposed on-chain, retail investors and speculative funds following the high prices experienced a collective panic sell-off, blindly following the trend without regard for costs.

VELVET36.73%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned