VELO crypto is down 1% on the day, continuing its recent downtrend, which has seen VELO drop 8% in price over the past seven days. The 2020-launched project, since its launch nearly five years ago, has found itself 99.5% down from its October 2020 all-time high.
Today, VELO crypto is trading for $0.011, marking a significant fall from grace after hitting $1.89 all the way back in 2020. VELO has struggled to find its place in the modern crypto market, and recent price action indicates there will be no change anytime soon.
VELO Crypto Continues Its Near Five-Year Downtrend – Where Will It End?
As the old adage goes, ‘adapt or die’, and VELO crypto hasn’t exactly adapted to the huge changes across crypto since it launched back in 2020. While it is not exactly dead, the fact that VELO is down 99.5% from its all-time high in 2020 definitely points toward it being more dead than alive.
The use case behind VELO has always been as a payment processing platform that links TradFi to Web3 but was quickly usurped by Ripple Labs and its XRP token. Since playing second fiddle to XRP, VELO has struggled to create any momentum as Ripple are better funded, better connected and seemingly have the better technology.
This is one of the key reasons that VELO has been in a near-constant downtrend for the past four and a half years. However, under the VELO Labs umbrella, the team has built a multi-chain DEX, a multi-network bridge, and an EVM-compatible blockchain.
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One hope for VELO crypto investors is that on the 1-day timeframe chart, the price is steady above the neckline of a recently formed head and shoulder pattern.
As long as this level holds, a reversal across the markets would likely result in a rally for VELO – though, how high it could go is another question altogether.
Per CoinGecko, VELO crypto has processed $34 million in daily trading volume, and its current market cap of $87 million makes it the 492nd largest cryptocurrency by market cap.
BONUS: Out With The Old, In With The New: Snorter Bot (SNORT) Perfectly Represents Crypto Innovation In 2025
Snorter Bot (SNORT) is the perfect example of how far web3 innovation has come since projects like VELO crypto launched back in 2020. It is a Telegram-based trading bot that allows users to seamlessly trade in the Solana trenches.
You can trade from your mobile with just a few clicks. Snorter Bot offers market-leading fees, a tiny 0.85% for SNORT holders. This is better than both the current leading Telegram trading bots, Trojan and BONKbot.
Investors are clearly interested in securing SNORT at these early-bird prices to ensure they lock in the low trading fees, as over $1.1 million has now been raised in a little over two weeks since going live.
This trading bot is launching with some of the fastest speeds of any Telegram trading tool. With its low fees, SNORT is an instant competitor to the current market leaders, Trojan and BONKbot.
The bot has built-in MEV protection, a cutting-edge sniper tool, and even a copy trade function. Those tools will empower users to have a cutting edge in the trenches, outperforming the competition as a result.
Although SNORT will initially only be available for Solana, the bot has built-in multichain capabilities. The roadmap lists Base and Ethereum as the next chains to receive support.
There are just under 24 hours until the Snorter Bot ICO moves onto its next price stage, which will see its current price of $0.0957 a distant memory.
Once Bitcoin breaks out and makes a fresh all-time high, this could be the signal for this bull market to finally hit top gear, with projects such as SNORT set to be one of the biggest beneficiaries of a risk-on market due to its nature as an all-in-one Telegram trading bot.
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VELO Crypto is in the red today, following a bearish pattern that has existed for nearly five years
- VELO is down over 99% from its 2020 all-time high
- XRP has made VELO persona-non-grata due to it doing everything VELO does, but better
- Snorter Bot (SNORT) hits $1.1m in presale funding, highlighting the shift from old tech like VELO and into innovative trading tools that SNORT has on offer
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