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.

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.

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.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: nahumam/123RF // Image Effects by Colorcinch