Velas Price

Velas could be an exciting crypto asset to include in your portfolio as the project has growth potential, especially as Web 3.0 goes mainstream. The rising adoption of the Velas ecosystem by dApp developers and users looking for a more scalable and low-cost alternative to Ethereum could power a strong uptrend in the VLX price statistics.

As Ethereum continues to face issues with network congestion and high gas fees, potential Ethereum killers like Velas could rise to prominence in the future. Several supporting factors could keep the Velas price and market capitalization ticking higher as it is one of the fastest blockchains with EVM compatibility.

The Velas price could also register an uptick amid a bullish mood in the crypto market. Higher buying activity across leading altcoins bolsters investor confidence and could potentially drive the VLX price back towards its highest price and possibly make a new all-time high.

Although it is impossible to offer an accurate Velas price prediction over any duration, here’s a list of critical factors that could influence a price change in the VLX token:

Level of Adoption of Velas Network

Higher interest among dApp developers and end users could increase the on-chain activity on the Velas blockchain. This, in turn, would drive up the value of VLX crypto in the market.

Staking Activity

An uptick in the number of validators and token holders staking $VLX could also help increase the value of Velas crypto. When more validators stake VLX and participate in securing the network, the blockchain becomes more resilient to attacks, and the value of its native token also climbs higher.

Crypto Market Sentiment

Positive sentiment towards digital assets supports investor confidence and encourages buying and holding activity across the board, supporting the price of Velas and other tokens. On the other hand, a bearish sentiment or risk-averse mood in global financial markets drives sell-offs which could lower the VLX price.

VLX is the native cryptocurrency of the Velas Network. The following are some of its use cases:

Transaction Fees

$VLX is used to pay transaction fees when using the Velas blockchain to transfer payments, execute smart contracts, or interact with dApps.

Staking

As a DPoS blockchain, Velas supports staking VLX crypto towards making its ecosystem more resilient to attacks. As a $VLX holder, you can stake their crypto on the blockchain and participate as validators, contributing to block production and transaction validation. In exchange for your efforts, you can receive rewards in VLX tokens and earn passive income to grow your crypto portfolio.

Crypto Asset to Invest in and HODL

You can trade Velas against other cryptocurrencies in the market or invest in it for the long term. Buy or sell VLX against other crypto assets or hold it if you believe in the future potential of the Velas project. Check the current price of Velas, VLX market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade VLX.

MetaMask is one of the most popular DeFi wallets in the crypto market and is a great option to let you store and manage your VLX holdings. Here’s how to add Velas Network to MetaMask:

1. Download and install the MetaMask wallet app on your desktop or smartphone device.

2. Create an account on MetaMask and set up your wallet if you are a new user.

3. Click on the Account button and visit the Settings option.

4. View the current networks available and click on the Add Network button.

5. Enter the following details in the popup tab:

Network Name: Velas Network

New RPC URL: https://mainnet.velas.com/rpc

Chain ID: 106

Currency Symbol: VLX

Block Explorer URL: https://evmexplorer.velas.com

6. Click on Save after entering all details. Velas Network will now reflect in your MetaMask wallet, letting you store your VLX crypto securely in it.

You can use the VelasPad bridge for cross-chain asset transfer between BSC, now BNB Chain, and Velas. Here’s how:

1. Visit the VelasPad bridge and connect your wallet to the app. Ensure you have sufficient crypto funds to perform the transfer.

2. Select VLX as the asset and enter BSC in the From option and Velas Network in the To option.

3. Enter the number of VLX tokens you wish to bridge from BSC to Velas Network and click on Swap to process the transaction.

4. Confirm the transaction through your wallet and approve it to submit your swap request.

5. Once the swap process is complete, you will receive the newly swapped tokens on the Velas Network.

Staking $VLX is a great way to help secure the Velas ecosystem and earn rewards. Read on to know more about how to stake VLX on Velas:

1. Create an account with Velas Wallet, the official wallet of the Velas Network. Fund your wallet by buying $VLX on KuCoin or other supported platforms and withdrawing the tokens into your Velas Wallet.

2. Visit the Staking Page and select the Delegator option.

3. Review the available staking pools and select one.

4. Enter the number of VLX tokens you wish to delegate and stake via the selected pool.

5. Click on Apply and then Confirm the transaction.

6. You can also stake as a validator if you have a minimum of 1 million $VLX for staking. For this option, you must select Node on the Staking Page and stake your VLX crypto.

7. Sit back and earn rewards in $VLX crypto for your delegated staking activity.