VANA produced a surge of 2700% after the listing announcement by Binance. Binance confirmed the listing of VANA on December 16, 2024 at 10:00 UTC. VANA token is linked to a metaverse-centric initiative known as the Nirvana Project. The price skyrocketed to heights after the announcement from Binance Launchpool. The announcement stated that it would be listing a native token from Vana Explorer. Vana Explorer is a native EVM-compatible blockchain for user data.
The Nirvana token surged 2700% hours after the listing announcement from Binance. At the time of writing the token has gone up by 1200% after months of stagnation. The Nirvana token has no connection to the VANA token that was listed by Binance on December 16. The trades misunderstood the VANA token that is getting listed in the Nirvana project because the Vana Explorer token is not yet made available in the market.
VANA is currently trading at $0.001521.The trading volume of the token witnessed a surge of 2432% in the last 24 hours and reached $616,640.At the same time, the market capitalization increased by 609% and reached $90,750.
It seems like the Binance listing announcement accidentally provided life to a nearly dead token. The X account of the Nirvana project has been idle since June 2024. The Vana network positions itself as the first open protocol for AI data sovereignty. Its native token has not yet been released. The protocol stated that the token would be utilized to power its ecosystems and support decentralized user-owned data transactions.
The Binance announcement stated that open trading will be available for VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY trading pairs from December 16 at 10:00 UTC. The freshly launched status will be indicated by Binance by the seed tag associated with the token. There will be an hourly hard cap of 8500 VANA in the BNB pool and 1500 VANA in the FDUSD pool. VANA farming is supported by Binance by providing total daily rewards worth 2.4 million tokens.
The total VANA supply is capped at 120 million VANA. 44% of the total supply is allocated to the VANA community with an unlocking period of 36 months. The ecosystem is allocated 22.9% of the total supply with an unlocking period of 48 months. The core contributors and developers receive 18.8% and 14.2% respectively. This allocation also has an unlocking period that spans across years.
Vana (VANA): Project Overview
Vana (VANA) is an EVM-compatible layer1 blockchain network. Vana allows its users to transform personal data into financial assets. This can be achieved by aggregating private datasets for AI modeling and training. Thus individuals can tokenize and monetize their data through Data Decentralised Autonomous Organisation. The projects grant the ownership and control of their digital footprints.
Vana(VANA): Key features
Vana is getting released with the following key features
Data Liquidity Pools(DLPs): Data Liquidity Pools introduced by Vana can be utilized by users to contribute data that gets validated and tokenized. This pool is intended to create data tokens that represent ownership and value of the contributed data.
Proof of Contribution: Vana utilizes the proof of contribution mechanism to ensure the quality and integrity of the data. This is a mechanism designed to validate data submissions and ensure that the data meets the criteria required for the network.
Incentive Structure: Participants in the Vana ecosystem are rewarded with $VANA tokens. The participants include Data contributors, validators, and DLP creators.$VANA tokens are provided as an incentive for active participation and the provision of high-quality data.
Vana(VANA) : Price Predictions
The estimated price of the token under constant circulating supply:
- At $200M market capitalization: $6.65
- At $500M market capitalization:$16.62
- At $1B market capitalization:$33.25
Vana (VANA): Project Potential
- The main focus of Vana is its adoption of data privacy-centric decentralized applications(dapps).
- The project enables a governance model in which token holders are allowed to vote on network decisions.
- Vana has the potential to attract a strong community and ecosystem growth.
- The major challenge of Vana is to comply with global regulations and innovations in user-centric blockchain solutions.
Final Thoughts
Vana (VANA) is the 62nd project that gets listed on Binance Launchpool. Users of the platform can farm VANA tokens by staking BNB and FDUSD. The VANA token is expected to be available for trading against USDT and BNB upon its listings. These listings increased the demand and potential price increase of the token along with the market sentiment. The expectations about the listing of VANA are a reflection of existing broader trends in the crypto ecosystem. Tokens that get listed in prominent exchanges have a significant impact on the market sentiment. Crypto investments are subjected to market fluctuations. Do your research before making investments. All the best.
