Key Takeaways

• Verasity is one of the most popular blockchain projects in the esports and ad tech space
• VRA has been rising recently because of the strong performance of AI cryptocurrencies
• A week ago, VRA was trending with nearly 3 million tweets 

Artificial Intelligence and cryptocurrency are two game-changing ideas that have appeared in the tech and finance scenes recently. and Verasity (VRA) is encapturing both due to its unmatched abilities in analyzing data, making smart choices, and processing information. 

Verasity price was performing well in 2023. VRA token jumped to an all-time high of $0.01, meaning it has surged by over 395% from its lowest point in December. 

This surge has brought its total market cap to over $99 million, which is interesting for a coin that was virtually unknown a few months ago. The market cap fell has since fallen to $50 million.

A week ago, VRA went viralon Twitter as the token trended with record 3 million tweets. VRA became the top trending cryptocurrency on Crypto Twitter ahead of Render (RNDR), Pepe (PEPE), and XRP(XRP). 

What is Verasity (VRA)?

Verasity is a blockchain project within the entertainment and video space. The developers have created tools in the esports, ad tech, and digital rights management industries, and within the eSport industry, they have made so-called VeraEsports – a platform that serves as a crossroad for both gaming and crypto. This means users are enabled to earn awards by watching videos and then redeem these awards for cash.

Veracity’s ad tech is based on VeraViews, which is solving the widely spread ad fraud problem in the industry. It does this by using its patented proof-of-views to ensure that advertisers pay for real engagements. The product has been patented in the US, South Korea, China, Hong Kong, and Eurasia.

How Verasity Works?

Verasity is all about promoting video engagement. Creators can earn VRA tokens when their content gets some sort of feedback, which motivates them to create even better quality videos that people would like to watch. 

The platform also adopts a special consensus algorithm called dPoV that gives prizes to viewers for watching videos on the site by using (and spending) their VRA tokens. This takes care of the authenticity of engagement and motivates viewers to stay engaged within the platform.

 Also, it’s built on a high-performance blockchain technology that can process up to 10,000 transactions per second. This enables fast and cheap transactions and boosts the platform’s growth and adoption.  

The crypto can be implemented within other video platforms, such as YouTube and Twitch, allowing creators to earn VRA tokens regardless of where their content is hosted.

VRA price history

Verasity launched in May 2018. The first exchange rate of VRA detected was $0.0008, the lowest price was $0.0002 in May 2019, and the maximum price that Verasity reached was $0.0811 in Nov 2021.

In the first year on which there is information, the VRA price closed at $0.0004, 59.06% up from the open. The best year for Verasity price was 2021, when the average price was $0.027, and the price closed at $0.034 after reaching the max price of $0.086.

Most of Verasity’s trading is happening in KuCoin, which is handling over 65% of all VRA’s volume. It is followed by Gate.io and Bithumb.

What is VRA similar to?

At the beginning of 2023, Verasity’s price has extremely jumped, mostly in sync with other artificial intelligence-aligned cryptocurrencies like Singularity’s AGIX, Fetch.ai, and Artificial Liquid Intelligence (ALI), among others. These tokens have done well because of the recent popularity of ChatGPT.

Current VRA price 

On June 1, 2023, VRA price stood at $0.0049.

VRA  Price Prediction 

CoinMarketCap  reports that the current price of the VRA token is trading at $0.0049, showing a plunge of approximately 10% from yesterday’s price. The technical analysis of VRA, however, might show that VRA could turn to bullish momentum and experience new records in line with the overall bullish trend led by Bitcoin following the release of CPI data . 

Looking at the daily price chart, Verasity is struggling to trade above its EMA-20 trend line at $0.0067, seeing a rejection close to its immediate resistance level of $0.0065.

Nevertheless, after forming a low near $0.006, the VRA token has taken support and is making an effort to surge above the 23.6% Fib level. 

The EMA-50 trend line has plunged from its previous resistance level of $0.009 to $0.006, and VRA tokens are trading within a consolidation level dominated by bears. VRA is now in an extreme fear zone due to the SEC’s crackdown on crypto, building a FUD situation for investors. 

VRA Price Prediction for 2023

Verasity price is forecast  to reach the lowest possible level of $0.006 in 2023. The price could reach a maximum possible level of $0.007 with the average forecast price of $0.006

VRA Price Prediction for 2025

According to deep technical analysis of past price data of VRA, in 2025 the price of Verasity is predicted to reach at a minimum level of $0.012. The VRA price can reach a maximum level of $0.015 with an average trading price of $0.012

VRA Price Prediction for 2030

The price of Verasity is predicted to reach at a minimum level of $0.079 in 2030. The Verasity price can reach a maximum level of $0.092, with an average price of $0.082 throughout 2030.

VRA Prediction Short Term

Verasity (VRA) price has increased  by about 0.97% in the past 24 hours as bulls managed to push it to above $0.004. There are 10,305,680,354 VRA tokens in circulation. The circulating supply is deflationary and will decrease as Verasity uses revenues from its advertising ecosystem to buy-back and burn tokens at regular intervals. 

Over 50,000,000 tokens have been burned at the time of writing. The VRA total supply of 110,305,680,354 VRA takes into consideration 90 billion Proof of View ‘marker tokens’, which do not contribute to circulating supply, and are used exclusively to power the VeraViews adstack back-end. They cannot be traded. Verasity reserves another 10 billion VRA tokens to make potential corporate acquisitions and pursue new business opportunities through a locked token allocation called the ‘Warchest’. These tokens are not in circulation.

VRA Prediction Long Term

The future of Verasity is highly dependent on the overall performance of the crypto industry. 

VRA is not suited for those with an asymmetric risk profile. However, it is still an excellent investment for those who have a high tolerance for risk and a solid financial position. In addition to its speculative nature, VRA also offers exposure to global technology and an ever-growing ecosystem.

In terms of price, Verasity has an outstanding potential to reach new heights. It is forecast that VRA will increase in value. According to specific experts and business analysts, Verasity can hit the highest price of $0.21 by 2030.

Is VRA a Good Investment?

Verasity is expected to see an upward trend in trading until 2032, unless the overall market experiences a downturn due to negative publicity or crashes. Additionally, it’s important to note that price predictions estimate Verasity to reach around $0.3, but the possibility of FOMO driving prices up even faster can not be ruled out. 

Supporting a promising crypto project early on can bring personal benefits and contribute to the overall community. The Verasity ecosystem is a prominent player in the blockchain industry with its innovative features. However, negative events in the market can still dampen its performance and growth.

Will VRA Go Up or Down?

VRA price has found it difficult to step out from a really tiny range after falling from its records of $0.008 in April. The token is near oversold territory after a recent pullback and retest.

VRA/USD pair has bounced off a long-term support level at $0.0043. If bulls use the current sentiment and push higher, we could see VRA price target a previous resistance turned support line at $0.0050. The 50 and 100-day moving averages can act as obstacles at $0.0058 and $0.0064.

On the other hand, the price of Verasity could continue toward the primary support zone at $0.0035. Further losses from here could see sellers target $0.0021, which would mean decreasing of 50% or more from current price levels.

Should I Invest in VRA?

Many people are hesitant to get involved with cryptocurrency due to the lack of trust within the industry. 

Unfortunately, there have been many instances where users have lost their investments due to failed projects and dishonest CEOs. 

Despite this, there is still a belief that certain popular tokens, like VRA, will increase in value over time. While it can be tempting to hold onto VRA for an extended period with the hopes of significant returns, there is no guarantee that the price will go up. It’s essential for crypto enthusiasts to carefully consider their investments and not rely solely on price predictions.

A good strategy for investing could be staking, HODLing for a few years, sell some when the price peaks, buy back in during the bear cycle, and repeat. 

VRA has been recently added to the Crypto.com App’s expanding list of supported cryptocurrencies and stablecoins, which includes Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Chainlink (LINK), VeChain (VET), USD Coin (USDC), and Cronos (CRN) (CRO). Verasity is changing esports, AdTech, NFT, and the digital content economy with practical blockchain applications.

FAQs 

What are the Pros of Investing in Verasity (VRA)?

Since the VRA crypto is dependent on the success of the Verasity ecosystem, it’s likely to increase in price. Therefore,  investing in VRA it can result in positive gains and prove to be a good investment.

Recently, the Veracity crypto has gained considerable action, recording significant increases in trading volume and market capitalization; all of these are signs of a vibrant cryptocurrency with an impressive future price forecast.

What is Verasity’s ‘circulating supply’?

Circulating supply refers to the number of coins or VRA tokens  that are publicly available and circulating in the market — in other words, available to purchase on or send to exchanges. It is an important metric in cryptocurrency as it helps to determine the value of a coin or token and is used to calculate market capitalization, which is the total value of all coins in circulation.

What does ‘burning’ VRA token mean?

In cryptocurrency, “burning” tokens refers to the permanent removal of tokens from circulation, reducing the overall supply. The idea behind token burning is that by removing tokens from circulation, the remaining tokens may become more valuable due to the pressures of scarcity.

Disclaimer

The article does not contain trading advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.