Vine, the video app that was once acquired by X (formerly Twitter), is popular again.
The founder of Vine announced the creation of the vinecoin ($VINE) token earlier today on X. As of press time, VINE’s market value has exceeded $170 million, with a trading volume of over $390 million, ranking first on the Solana chain. 
Vine was founded by Dom Hofmann, Rus Yusupov and Colin Kroll in June 2012, with the original purpose of creating a platform for users to easily shoot and share short videos. Initially, the core design concept of Vine was to simplify the video recording process, giving users greater creative freedom by holding down the screen to record a video and releasing the screen to pause. This unique operation method is very suitable for quickly creating content and attracted many early users.
In October 2012, before Vine was officially launched, it was acquired by Twitter for $30 million. This acquisition was an important strategic decision for Twitter, as Twitter aimed to enrich its social media platform with short video content. Subsequently, Vine was officially released on iOS on January 24, 2013, and quickly became popular, especially among young users.
In the months after its release, Vine became the most downloaded free app in the Apple App Store in the U.S. Many creators used this platform to create comedy shorts, special effects videos, and mini-dramas, which attracted a lot of attention and some users even became Internet stars.
Although Vine achieved great success in its early days, as platforms such as Instagram and Snapchat joined the short video field and Vine itself failed to innovate and provide more monetization opportunities in a timely manner, users gradually lost interest. Eventually, Twitter announced the cessation of Vine operations in October 2016 and replaced Vine with a simplified tool called Vine Camera in 2017.
On January 19, 2025, Musk said that he might bring back the short video app Vine. But there seems to be no set timetable yet.
Rus Yusupov, one of the founders of Vine, announced that he had created the VINE token and published the contract address, and then released a video to confirm that his account had not been stolen.
Followin subsequently reported this, and at that time the VINE token market value was already $16 million, which is of course much lower than the current market value of $160 million.
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Musk has not responded to VINE tokens. As VINE becomes more popular, it is unknown whether Musk will mention VINE in person. If Musk personally takes action, the market value of VINE is expected to rise rapidly again.
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Rus Yusupov said that the 50 million $VINE held by developers have been locked (total 1 billion) until 4:20 pm on April 20, and announced the lock-up address. At the same time, the lock-up will continue after the unlocking date expires until the Vine app returns.
