Venice AI’s VVV token reached an all-time high of $34.51 on Sept. 21, with a new account putting its 24-hour gain at roughly 17% and its rise from last December’s $0.92 low at around 3,000%. Earlier reporting measured the gain at more than 3,500%. Its market capitalization is about $1.6 billion to $1.62 billion, making it the third-largest AI-focused cryptocurrency behind Near and Tao. Venice, founded by ShapeShift founder Erik Voorhees, uses VVV as an access token for a privacy-focused chatbot and image-generation platform that routes prompts to open-source models including Llama and DeepSeek. Users can stake VVV for a daily share of inference capacity, while staked VVV generates DIEM, a token representing a dollar of daily API credit. Venice says it does not retain prompts, require accounts or impose the content filters used by some competing services. The company said its annualized revenue run-rate exceeded $100 million, up from about $70 million the previous month, and raised $65 million at a $1 billion valuation in July 2026. Revenue-linked token burns and repeated reductions in annual issuance have tightened supply, with emissions scheduled to fall from 2.5 million VVV to 2 million on Oct. 1. Market data shows the 100 largest wallets control roughly 98% of supply, leaving the token exposed to concentrated selling and price volatility.