VELVET: Putting these numbers on display is definitely a bit counterintuitive—almost to the point of extreme imbalance.
In 24 hours, the trading volume has piled up to about $32.59 million, but the protocol’s TVL is only $300,160.00. That means the trading volume is already 108.58 times the TVL. This kind of magnitude mismatch suggests that trading activity is completely detached from any constraint imposed by the underlying asset size; it’s no longer the slow, grinding behavior you’d expect from a small pool.
Some media have mentioned that VELVET surged by 3000% within a year and became the top winner in June. While we can’t directly verify specific on-chain wallet behavior, this burst of hype has undeniably drawn more attention. On the DEX side, there are also records on Solana’s Raydium: the buy-to-sell ratio is 1, with only 2 buys and 2 sells. That extremely low transaction frequency, combined with such a huge trading amount, is itself rather thought-provoking. Right now, it feels like funds are backing it up with real money—but whether this can be sustained will depend on whether future volume can keep pace with this momentum.
#VELVET #AI
In 24 hours, the trading volume has piled up to about $32.59 million, but the protocol’s TVL is only $300,160.00. That means the trading volume is already 108.58 times the TVL. This kind of magnitude mismatch suggests that trading activity is completely detached from any constraint imposed by the underlying asset size; it’s no longer the slow, grinding behavior you’d expect from a small pool.
Some media have mentioned that VELVET surged by 3000% within a year and became the top winner in June. While we can’t directly verify specific on-chain wallet behavior, this burst of hype has undeniably drawn more attention. On the DEX side, there are also records on Solana’s Raydium: the buy-to-sell ratio is 1, with only 2 buys and 2 sells. That extremely low transaction frequency, combined with such a huge trading amount, is itself rather thought-provoking. Right now, it feels like funds are backing it up with real money—but whether this can be sustained will depend on whether future volume can keep pace with this momentum.
#VELVET #AI