Ai16z, which hit a high of $2.42 at the beginning of January, has since nosedived by over 84%, now sitting at just $0.38. Venice Token (VVV) has suffered a similar fate, plunging from $18 in late January to around $5.82, marking a 67% decline.<\/p>\n
The situation escalated after Binance launched perpetual futures for ai16z shortly before its affiliated DAO rebranded as ElizaOS. Not long after, the exchange introduced similar futures for VVV, the token powering the AskVenice AI ecosystem.<\/p>\n
Some market analysts argue that these listings have had devastating effects. Ilya Paveliev, co-founder of Arete Capital, believes perpetual futures have turned into a tool for aggressive short-selling rather than fostering organic price movement. He claims that traders exploit these derivatives to push prices lower while offloading their spot holdings.<\/p>\n