VVV Price Slumps Despite Record Earnings
Venice Token (VVV) saw its price drop by 13% to $16.03 at press time, despite posting record quarterly earnings of $1.1 million.
The DeFiLlama data showed that not only did Venice Token's quarterly earnings reach a new high, but monthly earnings also hit a record $654,000.
This growth in earnings suggests that activity and platform usage increased despite recent market turmoil, which could indicate a stronger protocol performance. However, this improvement has yet to translate into price gains for VVV.
The perpetual market showed weakening trader sentiment, with the Funding Rate falling from 0.0141% on August 28th to 0.0001% at press time. The Long/Short Ratio also fell to 0.86, indicating that short accounts outnumbered long accounts in the measured market.