12/4/2022, 8:10:04 AM

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Velo is on the rise this week.

The price of Velo has risen by 1.19% in the past 7 days. The price declined by 0.29% in the last 24 hours. In just the past hour, the price grew by 0.79%. The current price is $0.0012 per VELO. Velo is 99.94% below the all time high of $2.07.

The current circulating supply is 4,984,154,058 VELO.


What Is Velo (VELO)?

Velo (VELO) is a next-generation financial platform based on blockchain technology. The Velo protocol is a decentralized settlement network that consists of a digital credit issuance mechanism and a digital reserve system. Digital credit products refer to the new and innovative form of acquiring electronic money from the emerging digital financial services market. The components permit trusted partners to tap into the functional efficiency, clarity of the Velo protocol, and distributed ledger technology. Velo aims to make a decentralized payment network that permits its trusted partners to transfer value among one another securely, quickly, and with utmost transparency. 

Interestingly, the Velo platform further aims to solve the issues of local adoption of blockchain technology in the current geography of financial services. The Velo network employs a smart contract system to encourage digital insurance and borderless asset transfer for businesses. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. 

The network suggests aiding in issuing collateral-backed digital credits for the possibilities of use in the real world. Velo ecosystem's focus would be on business partners in the payment and money transfer. According to its whitepaper, the Velo platform's technology essentially supports all digital credit transfers in the network.

Further, the VELO tokens are the native tokens developed to settle digital credits issued in the ecosystem. With the growing value of digital credits, the token holders' value also increases. The tokens are issued on the Stellar blockchain network. Stellar blockchain is an open-source circulated ledger used precisely for payments. The tokens' trusted partners must purchase VELO tokens to obtain digital credits to meet functional demands.  

History of Velo (VELO)

Mike Kennedy founded the Velo platform and serves as its CEO. The token's total supply is 29,999,999,991.00 VELO tokens.

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What is the current price of Velo?

The price of 1 Velo currently costs $0.0012.

What is the market cap of Velo?

The current market cap of Velo is $6.12M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Velo?

The all-time high of Velo is $2.07. This all-time high is highest price paid for Velo since it was launched.

What is the 24 hour trading volume of Velo?

Over the last 24 hours, the trading volume of Velo is $959.24K.

What other assets are similar to Velo?

Assets that have a similar market cap to Velo include Cajutel, Thetan Arena, AS Roma Fan Token, and many others. To see a full list, see our comparable market cap assets.

How many Velo are there?

The current circulating supply of Velo is 5 billion.