Top News

• The jump in VVV token’s price came after co-founder Erik Voorhees announced on Monday that Venice’s privacy-focused AI platform VVV had crossed $100 million in annualized revenue
• VVV’s market cap now stands at around $688 million, around 7 times its annualized revenue run rate, drawing interest from crypto investors looking for AI exposure.
• Venice launched a new AI-powered Doodle feature that enables users to turn freehand sketches into generated images, joining the revenue milestone with a product catalyst.

Venice’s native token (VVV) jumped in morning trade on Tuesday, outpacing Bitcoin (BTC), after a revenue milestone from the privacy-centric artificial intelligence (AI) platform sparked new buying interest.

The rise in VVV’s price came after co-founder Erik Voorhees on Monday stated on X that Venice had crossed $100 million in annualized revenue. 

VVV is the utility token of Venice, a privacy-centric AI platform built on the Coinbase (COIN) Base blockchain that allows users to run AI models without their data being stored or shared. VVV's market cap stands at approximately $688 million, placing it at roughly seven times its annualized revenue run-rate.

VVV's price jumped more than 20% to around $14.50 at the time of writing, while Bitcoin’s price rose around 1%, steady above the $64,000 mark. On Stocktwits, retail sentiment around VVV moved to the ‘bullish’ zone from the ‘neutral’ zone, while chatter around it shifted to ‘high’ from ‘extremely low’ over the past day.

Meanwhile, retail sentiment around BTC continued to trend in ‘bearish’ territory.

New Feature Alongside Revenue Beat

Alongside the revenue update, Venice also rolled out a new Doodle feature for its Studio product, a freehand drawing tool that lets users draw on a canvas and turn those drawings into AI-generated images.

Crypto commentator Hustlepedia said on X that VVV remains "a superior AI play in the current crypto landscape," pointing to company growth and buybacks as metrics that are "bullish on paper," and adding that it would be "a firm top category leader" if another AI rally takes shape.

Altcoin Confidence Building

VVV's move fits a broader conversation among crypto traders about altcoins regaining momentum. 

Crypto analyst Michaël van de Poppe said on X on Monday that his base case was that Bitcoin had bottomed and was heading toward $73,000, adding that a breakout there would be “a trigger for altcoins to start waking up again, as people need confidence.”

Venice has gained 784% year-to-date, while Bitcoin’s price has dropped around 26%.

Read also: Jane Street’s Bitcoin ETF Exposure Hits $1B, Goes 5X Bigger On XRP In Q2

For updates and corrections, email newsroom[at]stocktwits[dot]com.<