Verasity’s VRA token is back in the spotlight as bullish signs emerge. The crypto project focused on video game esports is gaining massive traction amidst a period of overall bearishness in the crypto market. The chart below highlights the bullish pattern for the token. Market analysts are highlighting a relatively stable market capitalization [around $30 million] despite facing criticism, or FUD in the crypto community.
Proponents argue that this stability positions VRA for a potential breakout, comparing it to Bitcoin’s early struggle. BTC took several years to hit $1,000 after its initial launch. Although the chart below highlights the bullish pattern for the token, it should not be considered financial advice.
![Verasity’s VRA Defies FUD: Analysts Weigh In 2 VRA](https://www.tronweekly.com/wp-content/uploads/2024/07/image-41-9.jpg)
There are several factors, Verasity supporters believe position the token for a potential breakout:
- Limited Supply: With only 9.93 billion VRA tokens currently left in circulation, proponents argue that the project has a strong foundation for scarcity-driven price appreciation.
- Token Burn: The recent burning of 1 billion Pov tokens, part of Verasity’s Proof-of-View [PoV] consensus mechanism, is seen as a positive step towards reducing overall token supply and potentially increasing the value of remaining VRA tokens.
- Robust support: Buyers are stepping in, preventing further dips.
- Healthy correction: This consolidation paves the way for the next leg up.
VRA on the Rise: Burned Tokens and Bullish Signals
VRA is Looking Strong once again! The past is behind us. The facts are: There are only 9.93B tokens left. They burned 1B of the 90B Pov tokens. Finally, those incredible upward spikes could be making a comeback!
Others chose to see from a broader perspective. They went ahead to claim that VRA will benefit from Bitcoin stabilizing and the crypto market picking up steam after a drawdown. “Verasity looks all set for a massive breakout!, one user wrote. “If BTC keeps climbing, altcoins are likely to follow, and Verasity could be a major player in the Web3 space.” The analyst’s short-term targets for the token are $0.010 and $0.015.