Rus Yusupov, one of the original co-founders of the short-form video platform Vine, has launched a cryptocurrency named VineCoin (VINE).

The token has quickly captured the market’s attention, with a meteoric rise in trading volume and market capitalization shortly after its debut on the decentralized exchange pump.fun.

This move has reignited discussions about the potential return of Vine, following recent comments by Elon Musk about reviving the iconic video platform on X.

VineCoin’s Early Performance

VineCoin has demonstrated rapid growth since its launch. Early data reveals:

• Market Cap: Within 2 hours of trading, VINE’s market capitalization reached over $180 million, before settling at around $90 million five hours later.
• Trading Volume: The token recorded more than $312 million in trading volume within its first day.
• High Returns: Early traders saw significant profits. For example, the second-largest wallet address (excluding the developer’s address) turned an initial investment of $373,300 into a paper profit of $3.5 million within hours, achieving nearly a 10x return.

In addition to these numbers, Rus Yusupov announced that developer-held tokens would remain locked until April 20, 2025, aiming to stabilize the market and mitigate large-scale sell-offs.

A Closer Look at Vine’s Legacy

VineCoin’s appeal is tied to the legacy of Vine, the short video app that launched in 2013. Known for its innovative 6-second looping videos, Vine quickly became a cultural touchstone, fostering creativity and viral trends. However, despite its success, Vine was shut down by Twitter in 2017 due to strategic shifts.

Yusupov, who served as Vine’s Creative Director, played a significant role in its rise, leveraging his advertising and design expertise. The timing of VineCoin’s launch is noteworthy, as Elon Musk recently hinted at the possibility of bringing Vine back to X, fueling speculation about the token’s potential connection to a future platform reboot.

Investor Wins and Losses

The token’s volatile price action has already led to dramatic outcomes for investors. Notable cases include:

The Big Win

1. A trader invested 1,463 SOL (~$374,000) to purchase 26.6 million VINE during a price dip. Initially experiencing a 70% paper loss, the trader’s holdings surged in value, resulting in an unrealized profit of over $4.5 million.

The Missed Rally

Another trader initially bought 1 million VINE for 20 SOL but sold early for just 23 SOL. After VINE’s price skyrocketed, the trader reinvested, ultimately making up for missed gains.

Diverging Views Among Vine Co-Founders

While Yusupov has embraced the idea of VineCoin as a new project, Dom Hofmann, another co-founder of Vine, has distanced himself. Hofmann publicly stated that he is not involved in the token’s development and will not participate in any similar ventures.

This highlights differing perspectives among Vine’s founding team, as Yusupov capitalizes on the platform’s cultural resonance to drive interest in the cryptocurrency.