Venice Token [VVV] dropped 15% over the past day as whales and top traders increased sell pressure on the asset. Binance top trader accounts saw their Long/Short Ratio collapse to 0.6, while the whale-versus-retail delta climbed to 0.022, indicating large investors dominated recent trading. Despite the selling wave, spot market buyers remained active with positive netflow of $824,960 over the past seven days and total purchases reaching approximately $15.66 million, suggesting demand could absorb continued selling pressure.
Binance Top Traders Push Long/Short Ratio to 0.6
Binance top trader accounts watched their Long/Short Ratio collapse to 0.6 over the past 24 hours, according to CoinGlass data. The ratio tracks whether longs or shorts dominate the market over a set window. A reading above one points to heavier buying volume, while anything below it shows sellers in control.
Binance commands the largest share of VVV volume among perpetual venues that list the asset, handling $51.3 million worth according to CoinGlass. The whale-versus-retail delta climbed into positive territory at 0.022, its highest reading in days, showing that whales now dominate trading activity.
Overall volume dropped 18% even as price continued sliding. Binance retail traders also leaned into the sell side during this period.
Spot Buyers Maintain $824,960 Positive Netflow
Spot market netflow confirmed that traders bought more VVV on the spot market than they sold. Over the past seven days, total netflow showed a positive reading of $824,960 in traded value. Total purchases across that seven-day window reached approximately $15.66 million.
The Bollinger Bands indicator showed VVV dropped into the undervalued zone. On the last two occasions VVV dropped into that zone, it launched rallies gaining more than 400% and 150% respectively. The indicator relies on two key lines: the upper band flags the overvalued zone, while the blue band below marks the undervalued zone.
Community Sentiment Declines from 84% to 79%
Community sentiment, which gauges whether investors hold a bullish or bearish view on VVV, showed weakening conviction in a rally. The gauge still leaned bullish, yet conviction eased from 84% down to 79% over the past 24 hours.
More investors remained bullish than bearish. The gauge had not slipped below 50%.
FAQ
What caused VVV token to drop 15% over the past day?
VVV dropped 15% as whales and top traders increased sell pressure. Binance top trader accounts saw their Long/Short Ratio collapse to 0.6, and the whale-versus-retail delta climbed to 0.022, indicating large investors dominated trading.
How much buying activity occurred in VVV spot markets over the past seven days?
Spot market netflow showed a positive reading of $824,960 over the past seven days, with total purchases reaching approximately $15.66 million during that period.
What does the Bollinger Bands indicator show for VVV?
The Bollinger Bands indicator showed VVV dropped into the undervalued zone. On the last two occasions VVV entered this zone, it launched rallies gaining more than 400% and 150% respectively.
