VelVET experienced rapid recovery after a major fall in mid-June, and prices have recovered significantly since the recent lows. With the rebound of the spot, the silo of the derivatives market, the volume of trade and the size of the liquidations have been amplified, indicating a re-concentration of short-term funds into the coin.

Drop 83%, then pick up fast.

VelVET, after touching the high point of 1.85 dollars on June 11th, fell all the way down to a minimum of 0.31 dollars, a phase down by about 83 per cent. Since then, the purchase has begun to flow back, and on 22 June the price has risen back to around $0.52.

On 23 June, the market was once again under pressure at a price of about 0.41 dollars. However, there was a marked increase in the purchases, which led to a rapid reversal. From this low point, VelVET once rose to the vicinity of US$ 1.45, with a cumulative rebound of more than 250 per cent.

Zooming in parallel with the yield.

The recovery in prices was accompanied by a marked increase in the dynamism of derivatives trading. Data show that VELVET has grown by 243 per cent to $170.7 million, indicating that more funds are entering the contract market.

  • Increase of unsettled contracts to $170.7 million
  • Derivatives traded up to $1.27 billion
  • Both data are significantly enlarged.

Derivatives also increased significantly, to 1090 per cent. The combination of holding and turnover increases, usually implying a rapid increase in short-term transaction participation and a greater degree of price volatility.

I'll take care of it.

The liquidation data indicate that a total of $2.87 million of the warehouse space in this turn was flat, of which approximately $2.51 million came from empty space. The relatively high level of empty space points to a more pronounced recovery in the course of the increase, which further pushed up prices.

The report mentions that one of the triggers for this rebound may be related to Velvet access to Aerodrome. This integration has resulted in better pricing and lower slide points for its non-hosting trading terminals, enhanced platform use experience and provided a new catalyst for token movements.