--- title: "Bitcoin and Dogecoin Faltered in 2026, But This Little-Known Token Exploded 375% as SpaceX IPO Fever Took Over" type: "News" locale: "en" url: "https://longbridge.com/en/news/295783384.md" description: "Velvet (VELVET), an AI-powered DeFi platform on BNB Chain, surged 378% year-to-date, defying the bear market that saw Bitcoin, Ethereum, and Dogecoin decline significantly in 2026. The rally was primarily driven by intense trader interest in synthetic pre-IPO products, particularly ahead of SpaceX's public listing, which caused a 1,400% weekly spike. Velvet currently trades at $0.6772." datetime: "2026-08-13T10:20:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295783384.md) - [en](https://longbridge.com/en/news/295783384.md) - [zh-HK](https://longbridge.com/zh-HK/news/295783384.md) generator: "portal-rs" --- # Bitcoin and Dogecoin Faltered in 2026, But This Little-Known Token Exploded 375% as SpaceX IPO Fever Took Over An under-the-radar cryptocurrency has delivered stratospheric gains in recent months, while more popular premium cryptocurrencies have struggled. ## VELVET Defies Crypto Bear Market **Velvet** (VELVET), which operates primarily on **BNB Chain** (CRYPTO: BNB), has jumped 378% year-to-date. Contrast this with **Bitcoin** (CRYPTO: BTC), **Ethereum** (CRYPTO: ETH) and **Dogecoin** (CRYPTO: DOGE), which have lost a significant chunk of their value in 2026. | **Cryptocurrency** | **YTD Gains +/-** | | ------------------------------- | ----------------- | | **VELVET** | +378% | | **Bitcoin**                | -27.28% | | **Ethereum**                    | -36.47% | | **Dogecoin**              | -44.41 | **Read Also: Bitcoin 'Ignoring Bad News' Signals We're at the Bottom of Crypto Winter, Bitwise Exec Says** ## What Sparked Velvet’s Rally Velvet is an AI-powered decentralized finance operating system and trading terminal that streamlines onchain research, trading and portfolio management. According to CoinMarketCap, the introduction of synthetic pre IPO products on the platform played a major role in boosting its price. Users were allowed to trade tokenized, leveraged pre IPO exposure directly from Velvet’s on-chain terminal. In fact, as **Space Exploration Technologies Corp.** (NASDAQ:SPCX) public listing approached, VELVET exploded 1,400% in a week. “This surge was driven by intense trader interest in the SpaceX and AI pre-IPO markets,” CoinMarketCap said.  **Price Action**: At the time of writing, VELVET was trading at $0.6772, up 201.17% in the last 24 hours, according to data from Benzinga Pro. **Read Also: Bernie Sanders Slammed Google Co-Founder for Spending Millions to Stop California's Billionaire Tax Proposal—Crypto Punters Weigh Passage Odds** *Photo courtesy: Samuel Boivin / Shutterstock.com* ### Related Stocks - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [ETHW.US](https://longbridge.com/en/quote/ETHW.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [FETH.US](https://longbridge.com/en/quote/FETH.US.md) - [TDOG.US](https://longbridge.com/en/quote/TDOG.US.md) - [DOJE.US](https://longbridge.com/en/quote/DOJE.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [CETH.US](https://longbridge.com/en/quote/CETH.US.md) - [BWOW.US](https://longbridge.com/en/quote/BWOW.US.md) - [GDOG.US](https://longbridge.com/en/quote/GDOG.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [LOFD.US](https://longbridge.com/en/quote/LOFD.US.md) - [LOFF.US](https://longbridge.com/en/quote/LOFF.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [TXXD.US](https://longbridge.com/en/quote/TXXD.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [03008.HK](https://longbridge.com/en/quote/03008.HK.md) - [03042.HK](https://longbridge.com/en/quote/03042.HK.md) - [03430.HK](https://longbridge.com/en/quote/03430.HK.md) - [BTCE.DE](https://longbridge.com/en/quote/BTCE.DE.md) ## Related News & Research - [Steak ‘n Shake’s Bitcoin bet posts double-digit sales growth](https://longbridge.com/en/news/298510530.md) - [Osmosis Took 74 Days To Discover A 40-BTC Nomic Exploit That Left Its Bitcoin-Backed Asset 36% Unbacked](https://longbridge.com/en/news/298903281.md) - [It's Not Now or Never With SpaceX Stock, Says Top Investor](https://longbridge.com/en/news/298924151.md) - [BTCX: Revenue and profitability fell amid business model change and regulatory uncertainty](https://longbridge.com/en/news/298940521.md) - [Symbiosis says it recovered 15 BTC after Bitcoin bridge exploit, offers attacker 20% bounty](https://longbridge.com/en/news/298840279.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**