Velo Protocol is a layer 1 blockchain network designed to facilitate seamless digital credit transfers between businesses and individuals.
By enabling efficient transactions, Velo is positioning itself at the forefront of next-generation DeFi applications.
The recent performance of $VELO has been impressive, with the token seeing a 35% increase over the past week alone.
Since hitting a low on August 28th, $VELO has surged by 40% to reach its recent local high. This growth has pushed the token’s market cap to approximately $117 million.
Do you have your eye on $VELO? 👀
✅ Up 35% on the week
✅ Up 40% since August 28th low to the local-high
✅ Market Cap: ~$117M@Veloprotocol is a layer 1 blockchain network enabling digital credit transfers between businesses and individuals, paving the way to next gen DeFi… pic.twitter.com/PiaHl0XQzr— Bitcoinsensus (@Bitcoinsensus) September 5, 2024
Velo Total Value Locked Has Seen Notable Growth, Surging Over 80%
Additionally, Velo’s Total Value Locked (TVL) has seen remarkable growth. Since July, the TVL of the protocol has surged by more than 80%. In July, the TVL stood at $15,068,338, while by September, it had climbed to $25,499,177.
This upward trend indicates increasing confidence in the project, as a higher TVL generally signals greater trust and adoption within the ecosystem.
Since July of this year, $VELO's Total Value Locked (TVL) has climbed up over a whopping 80%
TVL July = $15,068,338 ✅️
TVL September = $25,499,177 ✅️The higher the TVL, the higher the trust in the project ✨️ @veloprotocol pic.twitter.com/eQ4oXJlyAu
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) September 6, 2024
As Velo continues to build momentum, it’s clear that the platform is gaining traction in the DeFi space, offering businesses and individuals a promising solution for secure digital credit transfers. With sustained growth in both market cap and TVL, Velo Protocol is well on its way to becoming a key player in the evolving world of decentralized finance.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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