VELVET has recently become one of the top-performing tokens in the crypto market. Since June 3, the token has seen a cumulative increase of over 300%, with a nearly 100% increase in the last 24 hours. After this rapid surge, the price broke through the previously suppressive $0.20 to $0.22 range and reached a new all-time high.
Breakout from the $0.20 to $0.22 range
For some time, $0.20 to $0.22 had been a major resistance level for VELVET. With a surge in buying pressure, the price eventually broke through this level, and trading entered a new high range.
The article notes that after breaking through key resistance, market attention is shifting to higher price levels. Whether the current upward trend can continue depends primarily on whether subsequent buying pressure can be sustained.
Demand surges after integration with Trade.xyz
This surge coincided largely with a project update on June 3rd, when Velvet announced its integration with Trade.xyz, planning to use this integration to bring a wider global market to its platform.
According to the disclosure, users can access crypto assets, stocks, commodities, and research and execution functions on the same platform without having to switch between multiple applications. The market sees this development as a signal of expanding platform use cases, driving up demand for the token.
The market is focused on whether the buying momentum will continue.
In terms of timing, VELVET's recent surge is not simply a short-term fluctuation, but rather a confluence of news surrounding the project. The narrative of accessing the global market has increased market attention and driven a continuous inflow of funds.
- It has risen by more than 300% since June 3.
- The price has increased by approximately 100% in the last 24 hours.
- It has broken through the resistance zone of $0.20 to $0.22.
Currently, VELVET is still in the price discovery phase. The previous resistance level has been broken, and the market will now observe whether buying activity can be maintained and whether the price can continue to find support at higher levels.
