Venice AI's Price Surge Boosts Trading Activity

On May 12, trading activity for Venice AI (VVV) contracts has significantly increased on the centralized exchange Hyperliquid, according to BlockBeats On-chain Detection. The 24-hour trading volume surpassed $39 million, with open interest reaching $32.9 million. The recent price surge of VVV has led to notable profits for the largest on-chain address involved in this rally. The address, 0xfdf, utilized a 3x leverage to long 123,000 VVV tokens at an average price of $8.34. The current value of this position is approximately $2.2 million, resulting in an unrealized profit of about $1.2 million, equating to a 1.6x return on the initial investment.