Venice AI token VVV reaches record $34.53 as supply squeeze intensifies

A token that was trading below a dollar not long ago just printed $34.51. Venice AI’s VVV token hit an all-time high on September 21, pushing the project’s market cap to roughly $1.62 billion on the back of surging platform revenues and aggressive token burns.

What’s driving the rally

The numbers behind the move are concrete. Venice AI’s annualized revenue run-rate surpassed $100 million in September, up from approximately $70 million the prior month. That’s a roughly 43% jump in a single month for a platform that didn’t exist before May 2024.

Twenty-four-hour trading volume for VVV exceeded $151 million following the all-time high.

Venice has also been pulling supply off the market. The company initiated significant token burns tied to revenue, removing tens of millions of VVV tokens from circulation. With only about 48.4 million of an eventual 81 million total supply currently circulating, the combination of shrinking float and rising demand has created textbook supply-squeeze conditions.

On September 18, just three days before the peak, Venice rolled out USDC payment integration.

The pitch: AI that forgets you exist

Venice AI, founded by crypto veteran Erik Voorhees, operates a generative AI platform covering text, image, and code generation. It runs on open-source models. The core selling point is privacy: encrypted interactions, zero prompt storage, and a design philosophy that treats user data like it’s radioactive.

The platform now counts more than 4 million registered users and processes roughly 250 billion tokens daily.

The VVV token, launched on January 27, 2025, on the Base blockchain, functions as a staking asset. Holders who stake VVV get pro-rata access to Venice’s API without paying per-request fees. A secondary token called DIEM handles tokenized daily credits for more casual users.

Institutional backing and valuation context

Venice AI raised $65 million in a Series A funding round in July 2026, achieving a $1 billion valuation at the time. Backers included Dragonfly and Coinbase Ventures.

With VVV now trading at a market cap of $1.62 billion, the token market is pricing Venice at a significant premium to its last private round, just two months later. Going from a $1 billion private valuation to a $1.62 billion public market cap while revenue is accelerating from $70 million to $100 million annualized isn’t obviously irrational, even if it’s aggressive.

Voorhees’ reputation as the founder of ShapeShift gives the project a credibility floor that most AI token launches lack.