Why is Verasity (VRA) crypto buzzing today with 66% jump in trading volume?

Highlights

• Verasity was trading 2% down with 66% increase in the trading volume in last 24hours
• Verasity aims to transform digital rights management, AdTech and esports industry
• Verasity crypto has shown extreme price volatility in the past

Global crypto market turned bearish today (7 June 2022) after clocking decent gains the previous day. Probably, investors are taking home some profit after yesterday’s gains.  As a result, global crypto market capitalisation fell by 2.77% in the last 24 hours to US$1.22 trillion, according to data available on CoinMarketCap. Most of the top 100 digital assets listed on CoinMarketCap were in the red today. At the time of drafting, the bellwether crypto, Bitcoin, was down by 3.99% to US$29,575.85, and Ethereum tumbled by 6.39% to US$1,742.31 in the last 24 hours.

In-line with the overall crypto market, one altcoin that is buzzing today is Verasity (VRA) crypto, which has witnessed over 60% jump in its trading volume in the last 24 hours although price of the token has fallen by nearly 2% to US$0.006984.

Trading volume in this crypto has risen to US$15 million, which is nearly half of its market capitalisation of US$31 million. CoinMarketCap has ranked VRA crypto at 518^th place based on its market capitalisation.  

On Tuesday, crypto enthusiasts were talking about VRA token probably because the token will start trading on the Bitfinex exchange starting from 10:00 AM UTC today. Initially, VRA/USD and VRA/USDt trading pairs will be available on the exchange. Bitfinex started taking deposits of VRA from 1 June 2022.    

Suggested reading: What is Hedera (HBAR) crypto and is it environment friendly?

If you are planning to invest in this digital token, you need to know what Verasity crypto is, its historical price action, risks and other details

What is Verasity (VRA) crypto?

According to the whitepaper of Verasity, it is a blockchain company that aims at creating new experiences in digital rights management, AdTech and esports.

Image source: © Romankosolapov | Megapixl.com

Verasity uses the proof-of-value protocol, esportfightclub.com and its product layer to build a fair system for creators to make money from their work and to empower advertisers to gain value from their spending on advertisements.

Talking about the esportfightclub.com platform of VRA, it is a game streaming platform that offers the functionality of third-party, private and public tournaments for famous esport games. The esports platform of VRA has the licence to promote large events.

This blockchain is making excellent use of its Esportsfightclub.com platform as it provides rewards for subscribing and watching and winning with VRA.

Do read: Why is SafeMoon (SAFEMOON) crypto gaining attention?

Verasity whitepaper claims that it is a solution that can put an end to video ad fraud with a patented technology that offers high-level security and transparency. In addition to this, this blockchain-based solution claims to efficiently prevent NFT frauds by setting new standards for authenticating the art pieces, seller and marketplace.

Must read: Why did Etho Protocol (ETHO) volume surge 3000% today?

However, potential investors need to be aware that VRA crypto has depicted extreme volatility in the past. This token has moved in a range of US$0.000217-US$0.08683 so far. So, at current market price, VRA tokens are nearly 3020% higher from its all-time low recorded on 17 May 2019 and 92% below its all-time high recorded on 01 Nov 2021.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.