Velo's recent 20.3% price surge to $0.014796 can be attributed to a confluence of factors, primarily driven by market dynamics and influential political figures. congressman mike collins' investments in velo have unquestionably played a role. collins, known for his strategic focus on altcoins like velo amid election campaigns, exemplifies how political figures are swaying altcoin markets. this was noticeable when his purchases earlier this year boosted velo's trading volume substantially.

coinbase's expansion of velo trading to new york users has also boosted its accessibility and trading volume, contributing to the price rise. new market entrants from a large economic region like new york likely accelerated buying pressures.

on a more strategic level, velo labs' recent moves to integrate blackrock's buidl fund into usdv enhances velo's appeal by improving its stablecoin offerings and increasing utility within its ecosystem. however, the market's current sentiment is likely experiencing the aftereffects of a 'sell the news' phenomenon that followed previous positive developments.

in summary, velo's price fluctuation reflects a blend of political influence, increased market access, and strategic business decisions. it's a compelling case of how diversified interest and institutional support can drive altcoin markets. this surge feels like a testament to velo's growing relevance in the defi space.