What is Vectorspace AI (VXV) crypto and why is it rising?

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 What is Vectorspace AI (VXV) crypto and why is it rising?
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Highlights

  • Vectorspace AI can be defined as a data-centric startup. It is a subsidiary of Vector Space Biosciences, Inc.
  • According to Vectorspace AI, its utility token VXV can provide security, governance, data lineage, and provenances for its datasets.
  • The VXV crypto reportedly has a total supply of 50 million tokens, and its circulating supply is 39.8 million VXV tokens.

The price of Vectorspace AI (VXV) crypto jumped 21 per cent over the previous day, and it was trading at US$ 2.52 per token at the time of drafting this article.

The VXV crypto appears to have caught the attention of crypto market enthusiasts as its price is rising when the market has declined in the last 24 hours.

At 3 AM EST, the global crypto market cap was down by 3.1 per cent to US$ 2.1 trillion, according to CoinMarketCap data. Meanwhile, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) were down 2.5% and 4.1%.

What is Vectorspace AI?

It is a platform based on blockchain technology and focuses on datasets, which are known to power innovative Artificial Intelligence (AI) and Machine Learning (ML) operations.

Vectorspace AI can be defined as a data-centric startup. It is a subsidiary of Vector Space Biosciences, Inc., which develops countermeasures against stressors to protect and repair the human body during spaceflight.

Also, Vector Space's datasets extend to the cryptocurrency ecosystem by providing hedge funds and other financial institutions with solutions through the VXV crypto.

According to Vectorspace AI, its utility token VXV can provide security, governance, data lineage, and provenances for its datasets. It is essential to note that these features are important in any data engineering operation.

Also Read: Why is DGB crypto skyrocketing? All you must know about DigiByte

The VXV crypto is based on the Ethereum blockchain, and it can be used to pay subscription fees for getting access to Vectorspace AI's services.

VXV crypto©2022 Kalkine Media® 

Bottom line

There is no apparent reason behind the surge in the VXV crypto price, and it could be due to its focus on AI and ML. Over the years, both these innovative technologies have attracted investors' attention.

The VXV crypto reportedly has a total supply of 50 million tokens, and its circulating supply is 39.8 million VXV tokens. On November 16, 2021, the Vectorspace AI crypto had achieved an all-time high of US$ 35.93 apiece, and its all-time low was US$ 0.02496 per token on December 4, 2019.

At the time of writing, the VXV crypto's market cap was US$ 101.5 million, and its 24-hour volume was up over 200 per cent to US$ 1.5 million.

The cryptocurrency market is volatile and increasing prices of cryptocurrencies shouldn't be the only factor before investing. It is essential to learn more about the crypto project and evaluate the options before investing.

Also Read: What is Celo crypto and why is its price skyrocketing?

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