A DeFi space coin with Huge Potential. What's going wrong for Velodrome?
$VELODROME Finance (VELO) has recently experienced significant market activity, notably following its listing on Binance. On December 13, 2024, Binance announced the addition of the VELODROME/USDT spot trading pair, leading to an 80% surge in VELO's price within 24 hours, reaching $0.2578.
As of December 20, 2024, VELO is trading at $0.0252, reflecting a 9.82% decrease from the previous close. The intraday high is $0.0288, and the low is $0.0242.
Analysts have varied projections for VELO's future performance. Some forecasts suggest that by 2024, VELO could trade between $0.1312 and $0.16416, with an average price of $0.13658. Others predict a more optimistic outlook, with potential prices reaching $1.49765 by 2029.
The recent market correction has introduced volatility, with VELO's price experiencing fluctuations. Investors should remain vigilant, considering both the project's fundamentals and the broader market dynamics.
In summary, Velodrome Finance continues to be a noteworthy player in the DeFi space, with its recent Binance listing and subsequent price movements highlighting its growing influence. While the market correction has impacted VELO's price, the project's innovative approach to liquidity management and incentives positions it for potential long-term success.
