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Highlights
- Vectorspace AI (VXV) crypto is primarily a blockchain technology that drives the best from the AI and ML operations.
- On 9 June, the VXV crypto was also down by 1.99%, with a significant volume loss of over 60%.
- According to CoinMarketCap, the VXV crypto was trading at US$0.686391 10:40 AM (GMT +1) with a 24-hour trading volume of US$94,034.47 on Thursday.
The Vectorspace AI (VXV) crypto has been struggling for momentum for some time now. The 55th-ranked token has had a torrid time in the market for the past 30 days, with it witnessing a downfall of over 34%, according to CoinGecko.
On 9 June as well, the VXV crypto was down by 1.99%, with it witnessing a significant volume loss of over 60%, according to CoinMarketCap at 10:40 AM (GMT+1). Vectorspace AI (VXV) crypto is primarily a blockchain technology that drives the best from the Artificial Intelligence (AI) and Machine Learning (ML) operations.
The VXV token offers security, governance, data lineage, and provenances for its datasets. Besides, it also extends its services to retail traders and investors to use these data sets to trade in the crypto markets.
Related read: Why is Wing Finance (WING) setting the market on fire?
Why is VXV crypto trailing?
Built on the Ethereum blockchain, the exact reason for the VXV crypto’s slump is still unclear. But it may be due to the Terra collapse in May, which sent shockwaves in the market pushing several cryptos into the bearish phase. The last time VXV crypto performed consistently was on 9 April, which saw the token rally almost by 49%.
Since then, it has seen a downhill slide. A close look at the chart would show that the MACD line indicates a loss of momentum of late. Even though the MACD line did manage to rise above the signal line, the momentum fizzled out soon. As of 9 June, both the signal line and MACD lines are running parallel to each other.
Image credit: Trading view
Even the RSI, during the intra-day trading, is treading very close to the oversold margin at 31.77.
Related: Why Ropsten test success is crucial for Ethereum?
VXV Price
According to CoinMarketCap, the VXV crypto was trading at US$0.686391 with a 24-hour trading volume of US$94,034.47 on Thursday. The VXV crypto had a live market cap of US$2,74,39,574 and 3,99,76,565 VXV coins in circulation.
When the VXV crypto would shine again remains to be seen, investors are hoping that they would make most of the green zone. With the current trends, investors need to be vigilant and careful of the volatility in the market, after the Terra fiasco. Market participants should do their market research and make their investment decisions based on the research.
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