In mid-September Venice seemed to have found its perfect narrative: a frontier model available anonymously and a token at an all-time high. The following week reminded everyone that price and substance rarely walk together — and that the interesting part of the story lies in the numbers you cannot see on the chart.

A frontier model, leaving no traces

GPT-6.1 Sol has appeared in Venice’s catalogue anonymously: 1.1 million tokens of context, $2.50 per million input tokens and $12.50 per million output tokens. The timing is the news: OpenAI presented it on 29 September, and Venice made it available within the same stretch of hours. This is not a marketing detail but a positioning choice: if the value of a frontier model depends on the traceability of whoever uses it, then offering it with no logged prompts is a proposition, not an accessory. Anyone who wants frontier capability without surveillance now has more than one option — the game moves to which anonymity is guaranteed, and how.

Two hundred and fifty billion tokens a day

The number that tells the substance is volume: according to internal figures released by Venice, the platform serves about 250 billion tokens a day, against 100 billion on 25 June and roughly 45 billion in February. It is the same chart crypto analysts cite as the most eloquent in the sector: demand for inference as the foundation of AI. Around that chart, the tokenomics is tightening: VVV emissions fall from 3 to 2 million tokens a year, with cuts of 500,000 in September and as much again in October, while DIEM’s supply cap rises from 38,000 to 40,000. Each DIEM is worth $1 of credit per day: capacity you own rather than credit you burn.

The price, and who copies the model

VVV touched its all-time high of $34.51 on 21 September, then corrected: at the end of the month it trades around $27, up roughly 66-68% over thirty days but down on the week. The signal worth more than the price is of a different nature: according to market observers, the VVV-DIEM model — burning the consumption token to mint inference credits — is migrating towards other ecosystems, from decentralised finance to Bittensor subnets.

The question to keep open is not how far VVV has already come, but whether inference consumption will grow faster than the emissions that finance it. As long as the answer stays affirmative, Venice’s anonymity is a product; if it flips, it becomes a cost.

Verified sources: Venice API Docs, «All Models» (GPT-6.1 Sol openai-gpt-61-sol, anonimo, aggiunto 28/09/2026); OpenAI, «Introducing GPT-6.1 Sol» (29/09/2026); Venice, blog «Tokenomics Update: Credit Burns and a Higher DIEM Supply Target» (emissioni a 2M VVV/anno, DIEM da 38.000 a 40.000); Venice API Docs «VVV & DIEM» (1 DIEM = 1 dollaro di credito al giorno, refresh alle 00:00 UTC); CoinMarketCap CMC-AI, analisi di prezzo VVV (settembre 2026); cryptonews.net, «Venice VVV token hits record $34» (massimo 34,51 del 21/09/2026); X @top7ico, @AskVenice, @0xJeff (post del 28-29/09/2026, dichiarazioni di parte).