Has Vectorspace AI (VXV) crypto managed to reverse bearish trend?

February 24, 2022 12:54 AM AEDT | By Manu Shankar

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Has Vectorspace AI (VXV) crypto managed to reverse bearish trend? — Image source: Rabanser, Shutterstock

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Highlights

The VXV crypto is primarily an Ethereum-driven blockchain protocol that aims to explore the areas, such as AI and machine learning.

As a data-centric crypto, the Vectorspace AI offers correlation matrix data sets that allow the developers to accelerate innovation and discoveries using patent-protected projects.

According to CoinMarketCap, the VXV crypto was trading at US$2.14 with a volume of US$356,548 over a day.

The Vectorspace AI (VXV) crypto finally managed to get some good news with a rally after witnessing weeks of being in the bearish phase. Over the past month, the VXV crypto has suffered losses following its 7.8% dip in the past 30 days. The overall statistics is even worse if we were to look at the 14-day or this week’s performance as it slumped over 27% and 18%, respectively, according to CoinGecko.

On 23 February, the 397th ranked VXV token saw a rally of over 9% giving some ray of hope to its investors.

Why is VXV crypto rallying?

The VXV crypto is primarily an Ethereum-driven blockchain protocol that aims to explore the areas, such as AI and machine learning. As a data centric crypto, the Vectorspace AI offers correlation matrix data sets that allow the developers to accelerate innovation and discoveries using patent-protected projects.

Besides, the VXV crypto offers a payments function. With the help of wallet service, the VXV crypto acts an API key for the dataset distribution.

It offers retail traders and investors the opportunity to use advance data sets to trade the financial and crypto markets in unique ways. The exact reason for the rally is still unknown, but investors would be hoping that today’s price rally could reverse some of the losses that it has incurred over the past month.

Price and performance

According to CoinMarketCap, the VXV token seems to have reversed its losses with some gains on Wednesday. At the time of drafting, the token was US$2.14 with a volume of US$356,548 over a day. The VXV crypto was up by 10.95% in the last 24 hours with a live market cap of US$85,141,871 and 39,828,070 VXV coins in circulation. The VXV token is unable to replicate its price rally in its volume as it was down by 22%.

Conclusion

The Vectorspace AI has been making changes in its ecosystem. Last year, it released its Thematic Crypto Basket APIs for Exchanges, which will enable the crypto exchanges with a unique crypto basket offering an array of functions that are quite similar to hedge funds or asset management companies.

Though the token is far away from its all-time high of US$19.19, which it achieved in September 2021, the ecosystem would hope that this reversal of trend could be a gamechanger for the days ahead.

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