KuCoin Flash reports that, as of publication, the VVVUSDT perpetual contract is trading at 28.467 USDT, up 61.24% over the past 24 hours. KuCoin recorded trading volume of approximately 239,400 VVV, equivalent to about 5.77 million USDT. Open interest stands at approximately 109,700 VVV, valued at around 3.12 million USDT, while the funding rate is +0.0050%. The KuCoin daily chart shows that the price reached an intraday high of 29.212 USDT, placing the token near record territory and in a new price-discovery phase.
Venice AI is a privacy-focused generative-AI platform founded by ShapeShift founder Erik Voorhees. It provides text, image, audio, video and code-generation services while emphasizing client-side encryption and avoiding the storage of user conversations on company servers. VVV is deployed on Base and serves as the principal utility token of the Venice ecosystem. Users can stake the token to obtain AI inference capacity, access Venice Pro and lock staked assets to mint DIEM. Each DIEM provides one dollar of Venice AI credit per day.
The rally has clear event-driven support. Venice recently completed a discretionary burn valued at approximately $391,000 at the time of execution, marking the largest token burn in the history of the project. The destroyed tokens have been permanently removed from circulation, strengthening expectations of tighter supply. The announcement did not disclose the exact number of tokens burned, meaning the percentage of circulating supply removed cannot yet be calculated accurately.
A second supply-side development involves the emission schedule. Venice reduced annual issuance from three million to 2.5 million VVV on September 1 and plans to lower the rate further to two million VVV on October 1. While the latest burn removes existing tokens, the emission cuts reduce the amount of new supply expected to enter the market. Together, the measures create a dual deflationary narrative involving lower future issuance and the permanent removal of existing supply.
Business growth also provides fundamental support. Venice announced on August 17 that annualized platform revenue had surpassed $100 million. Under the token model, a portion of platform revenue and new paid subscriptions is used to purchase and burn VVV, creating a measurable connection between business activity, market purchases and supply reduction. CoinMarketCap reports a circulating supply of approximately 48.17 million VVV and a total supply of about 80.94 million, while market-wide 24-hour trading volume climbed to approximately $270 million, representing an increase of more than 850% from the previous day.
A CoinMarketCap market analysis published on September 9 attributed the rally to a combination of the token burn, lower emissions, revenue growth and renewed capital rotation into AI-related assets. The analysis identified $23 as near-term support and the $28–$30 range as immediate resistance. A break below $21–$22 could expose the deeper $18–$20 support area. Based on the latest KuCoin price of 28.467 USDT, the market has already entered the resistance zone identified by CoinMarketCap, making a sustained break above $30 an important test for the next stage of the trend.
Derivatives data show a KuCoin funding rate of +0.0050%, meaning long positions are paying short positions, although the rate has not yet reached an extreme level. Nevertheless, a daily gain exceeding 60% and open interest valued at approximately 3.12 million USDT leave the market exposed to leveraged liquidations and profit-taking near record highs.