- Binance Futures lists VVVUSDT perpetual trading with 25x leverage.
- Venice AI token VVV price plunged by over 30% today following controversy around the project
Binance Futures launched VVVUSDT perpetual trading earlier today. Traders can access this new financial instrument with up to 25x leverage from Jan 29, 2024. As the hype around the Venice AI’s VVV token increases, Binance took this opportunity to add a new perpetual trading product to its list.
The maximum funding rate of the VVVUSDT perpetual contract is +2.00% / -2.00% on Binance. And, the funding fee settlement takes place every four hours. Users can trade the VVV perpetual contracts using different assets, such as Bitcoin, as margin. However, Binance Futures specifications may change based on the market risk conditions.
Venice AI’s VVV token Dumps 30% Amidst Insider Trading Allegations
Top crypto personality Erik Voorhees backed generative AI model, Venice AI, was launched yesterday with VVV token airdrop. This AI model is gaining traction from the crypto community across social platforms for its advanced capabilities.
The native VVV token was launched with a starting price of around $13. Its price surged by more than 50% and reached a peak of $19.26 within a few hours. However, the VVV token came crashing down by over 30% today. And, it is currently trading at $9.95, while the market cap is down by more than 15%.
The Venice AI project quickly became a subject of a controversy around data privacy and its integration with DeepSeek AI. However, Erik affirmed that Venice AI ensures data privacy, unlike the recent groundbreaking DeepSeek AI. Furthermore, users will be able to access DeepSeek through Venice AI, which acts as a layer of privacy.
Another leading exchange Coinbase announced its support for Venice Token VVV on the Base network, within a few hours after the project launch. This followed another controversy regarding insider trading allegations. Base ecosystem DEX protocol, Aerodrome, announced that it suspended two contributors accused of insider trading. This took place within a few hours after the token launch on Coinbase.
The insider trading allegations combined with data concerns, Venice AI price is dumping significantly today. Nonetheless, AI tokens are further affirming their rule over other crypto market trends in 2025 so far.
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