If you’ve been keeping an eye on the crypto market, you probably know the market has turned bearish as of late. But despite the chaos, a few AI trading bot users are buzzing with excitement after the Velodrome token, VELO, surged by 15 percent. This rise came after a high-profile purchase by US Congressman Mike Collins. Considering how we’re facing a sea of declining crypto prices, this development has grabbed the attention of AI trade bot users.
Congressman Collin’s Crypto Move
Congressman Mike Collins once again showed off his interest in digital assets by investing in VELO. He’s already well known among AI crypto trade bot users after purchasing Ethereum tokens worth $65,000. If anything, his latest investment means one thing: he believes in the potential of altcoins. Quantum Income PRO, a highly regarded AI trading bot, has also shown a keen interest in VELO, reflecting its strategic insights.
And let’s not forget that the timing of this purchase adds an interesting twist to the story. Considering how the US is gearing up for presidential elections in November, a major crypto purchase signals that the party has plans for greater crypto integration.
VELO’s Price Action
Following Collins’ investment, Velodrome’s price saw a significant hike, going up by 15 percent to trade at $0.112. On any other day, this would be no big deal. But when you compare it with the rest of the market’s bearish performance, this surge is pretty notable.
So far, the broader crypto market’s recent performance shows major coins falling by over 5 percent. Velodrome’s price increase despite such volatility means that altcoins are getting some spotlight, especially with AI Bot trading enthusiasts.
What’s The Market Saying?
This begs the question: What’s the hype surrounding VELO? Unlike well-established cryptos like BTC and ETH, VELO leans towards decentralized finance on layer-2 networks.
Its laser focus could be a factor in its recent performance, attracting investors looking for unique opportunities within the crypto space. AI crypto trading investors, including those using Quantum Income PRO, have also taken note of VELO’s potential, further validating its appeal.
What’s So Special About Velodrome?
This begs the question: What’s the hype surrounding VELO? Unlike well-established cryptos like BTC and ETH, VELO leans towards decentralized finance on layer-2 networks. Its laser focus could be a factor in its recent performance, attracting investors looking for unique opportunities within the crypto space.
How’s The Market Feeling About This?
You can’t expect a single purchase from a congressman to make such major moves. Data from Santiment shows that Congressman Collins’ purchase wasn’t the sole catalyst for VELO’s surge.
If you take a look at the past week, both social dominance and social volume for Velodrome have shown significant increases. June 12 marked the highest spike in these metrics, suggesting a growing interest in the token.