Key Highlights
- Venice Token jumped 82% in seven days and briefly crossed $18 as traders rushed into AI-related crypto projects.
- Venice reduced token supply through burns and lower emissions, with over 33 million VVV already removed from circulation.
- Growing usage on AskVenice and a new StrikeRobot partnership helped increase investor interest in the project.
The Venice Token (VVV) extended its rally this week as traders rushed into AI-related crypto projects, pushing the token to a new high.
At the time of writing, VVV was trading around $17.03 after jumping 82% over the past seven days. The token was up 12% in the last 24 hours and nearly 98% over the past month. The token reached a new high, briefly above $18 during early trading hours today, before dropping.
This move was due to an 82% increase in trading activity, which reached about $94 million in volume, while the token’s market capitalization reached about $783 million.
Venice reported record buying activity
The rally gained more attention after Venice CTO Jesse Proudman revealed that subscription and credit purchases on AskVenice hit a new record, surpassing the previous high by 10%.
“A big shout out to our new customers – welcome to Venice,” he posted on X.
The update quickly caught the attention of traders already looking for AI-focused crypto projects with active users and strong demand.
Token burns and staking reduce supply
Venice has also been reducing the number of VVV tokens in circulation, which helped increase scarcity in the market.
On May 1, the project lowered its annual VVV emissions from 6 million to 5 million tokens as part of a wider plan to lower emissions to 3 million by July.
Earlier, on April 27, Venice introduced a stronger token burn system. Under the new update, every new Pro subscription now burns $2 worth of VVV instead of $1. This means tokens are permanently removed from circulation whenever users subscribe to the platform.
According to data shared by the project, more than 33 million VVV tokens, equal to over 29.7% of the circulating supply, have already been burned. At the same time, around 69% of the supply is currently locked in staking, leaving fewer tokens available for trading on exchanges and adding more pressure to supply.
How Venice’s AI platform is attracting users
Venice has become popular partly because of how its AI platform works. The project connects users to several AI models, including ChatGPT, Grok, Claude, and DeepSeek.
The platform allows users to access AI tools while keeping prompts off centralized servers. Venice says prompts entered by users are not stored on servers, which has attracted more users.
The token received an additional boost after Venice announced a partnership with StrikeRobot on May 11. According to the announcement, the partnership will use Venice’s private AI infrastructure to support humanoid robots with AI vision and decision-making features.
The partnership added to the growing excitement surrounding real-world AI applications tied to blockchain technology.
Market support and momentum buildup
The wider crypto market also helped support the rally. AI-themed cryptocurrencies such as Bittensor, NEAR, ICP, Render, and FET also recorded gains recently as Bitcoin moved above $80,000.
However, even with the strong rally, some indicators showed the token may be overheating in the short term. The Relative Strength Index, also known as RSI, moved above 80, a level many traders see as overbought, after reaching near $18.
This level is seen as an area where buyers pull back a bit due to the high momentum, while sellers take over. Despite that, current momentum shows a possibility for more surge with the potential to reach $20.
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