- VRA was trending on Tuesday morning with nearly 3 million tweets, making it the most popular on CT ahead of Render (RNDR), Pepe (PEPE), and XRP (XRP).
- Verasity (VRA) is a blockchain-based platform that aims to revolutionize the video advertising industry.
- The price of VRA is up 3% at about $0.0044 at the time of writing.
Verasity (VRA) price is up about 3% in the last 24 hours as bulls expect it to rise above $0.004. Demand led to a 28% increase in trading volume over the same period, with $5.6 million worth of VRA traded on the exchange.
VRA, an altcoin with 10 billion tokens in circulation, is currently valued at a market capitalization of $45.6 million.
However, with the Verasity price expected to test resistance at key levels, it is noteworthy that the coin remains more than 94% below its all-time high above $0.086 reached in November 2021. The question is whether the bulls can ride the current sentiment and target recent highs. $0.008.
VRA trends with nearly 3 million tweets
Verasity, a blockchain-based platform seeking to revolutionize the video industry by solving the problems of ad fraud, low engagement, and lack of transparency, went viral on Twitter on Monday as its VRA token gained popularity with a record number of tweets.
Although no major news or event appeared to be the catalyst, the sentiment continued until VRA trended with nearly 3 million tweets as of 3 a.m. ET on Tuesday. VRA was the most popular cryptocurrency on CT, ahead of Render (RNDR), Pepe (PEPE), and XRP (XRP).
Here are my observations of the hot VRA streak on Twitter today:
🙌 $VRA 🔥🔥🚀🚀🚀Almost getting to 3M. #true #PoV #VRA #fraud@verasitytech @Vera_Views pic.twitter.com/SaHdDUGTeX
— CryptoAnalyst 🥇 (@RakeshLovesY) May 23, 2023
One thing that’s interesting is Verasity’s growing influence on the advertising market. A Binance Research article introduced the platform, highlighting its artificial intelligence and machine learning-based features.
As CoinJournal highlights in this article, Verasity wants to power the future of advertising.
The platform provides businesses with patented Proof of View (PoV) technology that ensures fraud-free ad viewing through a combination of artificial intelligence (AI), blockchain, and gaming mechanics. This is because advertisers want to reward real viewers for their attention through the Watch and Earn feature, and VeraViews delivers.
4/14) AI and ML-based systems provide: #VeraViews Ability to detect bots and anomalies at scale. 🤖
These technologies can analyze large amounts of advertising campaign data and identify unusual patterns and behaviors, providing much more accurate campaign statistics.
— Verasity (@verasitytech) May 22, 2023
And we’re starting to see a surge in demand for Verasity, with partnerships looking to leverage VRA use cases across other ecosystems like Metaverse and NFTs. Their activity can also be seen in their Twitter following, which currently stands at over 295,000.
The Price of Truth: Can Bulls Take Advantage?
VRA price has found it difficult to break out of its increasingly tight range after falling from its April high of $0.008. After the recent pullback and retest, the token has moved closer to oversold territory.
As seen on the daily chart, VRA/USD has bounced from its long-term support level at $0.0043. If the bulls take advantage of the current sentiment and move higher, we will see VRA price targeting the previous resistance level as support at $0.0050. The 50-day and 100-day moving averages provide the next hurdles at $0.0058 and $0.0064.
The downside is that Verasity’s price may continue towards the primary support area at $0.0035. Any further losses from here would set the seller’s target at $0.0021, which would imply a decline of over 50% from current price levels.