Trying to buy into any recently launched Decentralized Perpetual Exchange right now is like catching a big wave in space... Maybe the ride of your life or a big wipeout!
(Updated: Feb 21, 2023)
The $VELA token has been in price discovery since its launch in January. It has yet to retrace significantly and is basically making all-time highs every 24 to 48 hours.
The $VELA token does have a small number of holders who got in on it when it was $DXP (currently swapping 1:1), and those hodlers are up over 20x, but most people who got in during the new launch in January are only up 2x to 6x.
They launched on Arbitrum and are on fire! It is already ranked #44 by market cap and #45 by volume in the Arbitrum ecosystem and moving fast!
The market cap has shot up to $52M in less than 30 days!
Total value locked has gone from zero to almost $25M in under 30 days!
I think Vela is a great low-cap 💎 as it has 6% of the market cap and 11% of the trading volume of GMX, and if it hits the current market cap of GMX (based on today's prices), you could see a solid 12x.
My bet is on continued growth, and based on the tokenomics and staking options, I think you will see more hodlers than sellers. There are already over 14K hodlers, which has grown 47% in the last 7 days.
DYOR – NFA 🙏 D3Y Show Less