VELO price rose 358% in six weeks
Altcoin dynamics contrast with the current market situation
VELO could be a serious competitor to Ripple.
VELO grew by 358% in 6 weeks
The company behind VELO, which aims to provide digital lending and cross-border asset transfers for businesses, is Velo Labs.
Like XRP, which aims to improve the efficiency of cross-border payments, VELO is focused on improving financial infrastructure and ensuring seamless transactions. However, unlike Ripple, VELO relies on smart contracts.
Several factors contributed to the growth of VELO's popularity. One of the catalysts was the project’s strategic partnerships with iRemit, Visa and Lightnet. These collaborations expanded VELO's regional presence and demonstrated its potential to improve cross-border payments and digital finance solutions.
VELO's price performance contrasts significantly with the current market situation: over the past month, the token has gained 225.51%, while most cryptocurrencies have suffered double-digit losses amid the current correction.
According to data from analytics platform Santiment, VELO's trading volume has increased by 30% over the past day, reflecting a surge in investor interest in the asset.
“To be honest, I only see one direction in the coming weeks. In the worst case, the $0.015 level should hold if a strong correction occurs. But for now, VELO is showing strength,” said a member of the crypto community under the nickname CryptoAM17.
