Verasity (VRA) was trending on Twitter with over 3 million tweets Tuesday morning, topping the CT before Render (RNDR), Pepe (PEPE), and XRP. VRA is an innovative blockchain-based platform that seeks to revolutionise video advertising. The token traded around $0.0044 and was up by 3%.
Verasity’s Price of VRA has increased about 3% in the last 24 hours as bulls try to push the price above $0.004. The demand for VRA has seen over $5.6 Million worth of VRA trade across exchanges. VRA has a supply of 10 billion tokens and its current market cap is $45.6 million.
The hot VRA trend is well documented with almost 3 million tweets at 3 AM ET, despite no major news event or catalyst. VRA was CT’s top trending coin ahead of Render (RNDR), Pepe (PEPE), and XRP.
VRA has a growing impact on the ads market, with the platform featured in a Binance Research. It offers its own patented Proof-of-View (PoV), where the combination of artificial intelligence (AI), blockchain, and gaming mechanics ensures fraud-free advertising views. The platform offers VeraViewS, which rewards viewers who pay attention.
The current price is likely to test key resistance levels. It’s worth noting that the coin has fallen by more than 94% from its highs of above $0.086 in 2017. The question is whether bulls are able to ride the current sentiment in order to target recent lows of $0.008.
Verasity is also looking to extend VRA’s use cases into other ecosystems including the metaverse, NFTs, and others. The number of Twitter followers is currently over 295k.
After a recent pullback, the token is close to oversold territory. As can be seen in the daily chart, VRA/USD is now trading above a $0.0043 long-term resistance level. If bulls can take advantage of the current sentiment to push higher, we can see VRA’s price target at $0.0050, a former resistance line that has now become a support line. The next hurdles for this price range are the 50 and 100 day moving medians, which come in at $0.0058 & $0.0064.
However, if the price continues towards the primary support area at $0.0035, further losses from here would see sellers targeting $0.0021, which would mean a decline of more than 50% from current prices.
Verasity’s growing impact on the ads market and its extended use cases into other ecosystems make it an exciting prospect. With partnerships looking to extend VRA’s use cases into other ecosystems including the metaverse, NFTs, and others, the demand for goods and services is increasing. The question is whether bulls are able to ride the current sentiment in order to target recent lows of $0.008.