The broader crypto market declined in Q1 2025, with BTC and ETH market caps falling 11.4%
and 45.2% QoQ, respectively. Velo's performance followed a similar trajectory, with its
circulating market cap dropping 51.4% to $88.8 million and its token price falling to $0.012.
Despite the contraction, Velo’s market cap rank improved from 373 to 339, reflecting relative
strength amid a broader downturn.
Total fees for the quarter fell 18.2% QoQ to $1,746, while average daily fees declined 16.4%,
signaling a pullback in transactional revenue. In contrast, usage metrics saw a strong uptick:
average daily transactions increased 255.5% to 1,581, and average daily active addresses rose
84.7% to 4,364, primarily driven by activity on Nova. Nova handled more transactional volume,
with a 1,302.1% QoQ jump in average daily transactions, while BSC remained the ecosystem’s
primary user entry point, with active addresses up 84.8%.
