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Verasity’s native token VRA rose 9,2% in the last 24 hours, from $0.009352 to $0.0103. This growth is especially noticeable against the fact that most of the other cryptocurrencies are in decline on the same day. However, the asset has its own reasons for this rally, and not just one. Let’s talk about them below.
What is Verasity?
Verasity is a company that promotes next-generation video hosting. The team’s goal is to create a product that allows creators to make money from their work.
The platform launched on May 18, 2018, as did the native token. It’s needed for staking, earning, and spending on the Verasity ecosystem. Users can earn on the platform itself, and the Verasity watch and earn SDK software development kit has already been integrated on more than 2M platforms.
What makes Verasity unique is the use of Proof-of-View protocol technology, which works in combination with Proof-of-Stake a type of consensus mechanism used to validate cryptocurrency transactions to distribute VRAs to worthy members of the Verasity ecosystem. Worthy probably means those who comply with the rules of the platform.
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Verasity also wants to expand Proof-of-View technology and data storage technology to non-fungible tokens (NFTs). According to Verasity’s representatives, their on-chain verification will make NFTs more valuable and add an extra layer of authentication to ownership demands.
VRAlly: Why is the token growing?
The value of the asset has been rising since early 2023. Then the whole market began to rise after a prolonged fall after the collapse of FTX. Coins were on the rise after the news about the improvement of the economic situation in the USA. In particular, it became known about the reduction of the inflation rate from 7,1% to 6,5%.
Within a day after the news, the asset grew by 7,23%, from $0.002349 to $0.002532; however, it didn’t stop growing, and by January 22, it had risen to $0.007277 (+67,72%). The asset finished the month at $0.006491, thus having gained 69,03% since the beginning of the year.
The value of the asset at the end of January could also be supported by the release of the Verasity roadmap for 2023. Among the major plans:
- Attracting new partners.
- Releasing a payment app.
- Launch of the Crew3 community.
- New user interface design.
- Updating of the website.
- Receiving notifications of updates, via email and inside VeraWallet.
- Adding audience blacklists function.
- Significant UX and UI improvements to VeraWallet.
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https://t.co/Mqy68590Y4 pic.twitter.com/v3JS2j7P2K— Seer Labs (@seerlabs_crypto) February 6, 2023
Thanks to the growth figures, VRA entered the trends on CoinMarketCap.
Trending Crypto. February 7, 2023.$VRA $HYPER $HELLO $SHIB $CAKE $MIOTA $MATIC $APTOS $LUNC $BTC
Source: @CoinMarketCaphttps://t.co/2MjA02t6dx
More info:@coindar_ | https://t.co/USbSfC24vN pic.twitter.com/jgYYLQoHQO— Coindar (@coindar_) February 7, 2023
In addition, in just one day, the following events occurred in the Verasity ecosystem, which could support the value of the VRA during the falling of the market:
- VeraViews, an open-ledger advertising ecosystem, has patents for Proof-of-View technology in the USA, China, South Korea, Hong Kong, and Eurasia.
VeraViews has patents for #ProofofView technology in the USA, China, South Korea, Hong Kong, & Eurasia.
We’ve now localised https://t.co/dIRgkEfIG3 into 7 languages to support our global expansion into new #advertising markets.
Supported languages are: pic.twitter.com/UKOlMS1gEa
— VeraViews (@Vera_Views) February 6, 2023
- The DeFi wallet LIFE has preloaded VRA onto its app.
“Great to have a real-world impact project such as Verasity partner with us for inclusion in [our] groundbreaking wallet,” said LIFE representatives on Twitter.
- It is also now possible to trade VRA paired with ETH on the new Lunar Crush exchange. Verasity was one of the first tokens to be listed on the platform. Read more at the link.
You can now trade $VRA / $ETH on @LunarCrush‘s brand new exchange, as one of the first tokens listed by the platform!
Check it out here: https://t.co/6oYEbkERxZ#Verasity #Crypto pic.twitter.com/uf2ezidzSi
— Verasity (@verasitytech) February 8, 2023
- The project team is completing its first buy-back [a company’s buyback of circulating assets in order to reduce their number in the market and increase the value of remaining coins] and burn [a mechanism that permanently removes a certain amount of cryptocurrency from circulation in order to increase market demand and asset value], which will remove over $500K in VRA from circulation — at current rates, that is about 50M coins.
In total, the project team has already removed 41,140% of tokens from circulation — 45.5M coins out of 110.35M possible. Now there are 10,343M VRAs in circulation.
Current price and where to buy VRAs profitably?
As of this writing, the Varasity native token is trading at $0.009352, up 9,2% from the day before. The peak value came on November 2, 2021, when a coin was available for $0.0836. Compared to the current price, the difference is 88,81%.
You have not selected any currency to displayThe market capitalization of VRA has also risen in the last 24 hours and stands at $103.6M, up 1,79% from 24 hours ago. And the trading volume of the asset has increased by 52,11% over the last day to $80.47M.
The most profitable value of VRA on the ProBit exchange. There, the asset in the pair VRA/BTC trades at $0.00934231.
The largest daily trading volume of the token on the KuCoin exchange in the VRA/USDT pair is $47.5M. On this platform, VRA is worth $0.00994098.
For comparison, on the above-mentioned Lunar Crush, where the token was just listed, VRA costs $0.009986.
Ticket to the moon: Will the VRA grow further?
The current growth of the asset is impressive, but it is impossible to say whether the token will grow for a long time yet. It should be observed, and, as with other cryptocurrencies, you must constantly do your own research.
However, it is worth noting that VRA may still grow in the short term. This can be judged by the team activity on the network — collaborations with other crypto projects, token burning, as well as promotion through the power of the community.
In the same way, a coin can suddenly drop. In the meantime, the token is on the list of cryptocurrencies that surpass even Bitcoin in terms of growth rate.
COINS THAT OUTPERFORMED #BITCOIN IN THE LAST 30 DAYS$AGIX $NTX $CANTO $OPUL $ALI $RDNT $SDAO $RNDR $HIGH $VRA $FLOKI $APT $NFTB #BABYDOGE $MOOV $BTC pic.twitter.com/KPZ9a38qYL
— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) February 8, 2023
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