Altcoins
Here’s the reason why VeChain (VET) is up today
VeChain (VET) is on a bullish rampage as investors weigh in on the protocol’s prospects ahead of a major announcement.
The digital currency ecosystem is currently experiencing a major bull rally as the price of Bitcoin (BTC) hit a new multi-year high above $52,000. The rally caused an overall bullish twist in the broader altcoin market, with VeChain conveniently riding the trend.
VeChain is now one of the altcoins with the biggest winnings in the last 24 hours after climbing as much as 31% to $0.04522. The rise boosted the asset’s market capitalization to $3,292,065,663, and the trading volume, which soared 461% in 24 hours to $547,758,301, shows that the rally is a true testament to healthy demand for VET.
VeChain Announcement
While we cannot ignore the impact of the Bitcoin rally, VeChain as a protocol has also sparked anticipation in the ecosystem with its upcoming announcement. Protocol said in an article on X that it will reveal its next major milestone at the MWC 2024 event in Barcelona.
At the event in Barcelona 🇪🇸, we will share a major announcement on how we intend to build better with blockchain technology. $EFP
– vechain (@vechainofficial) February 14, 2024
While details of the impending announcement remain elusive, Protocol has highlighted how it appears to be pioneering the next frontier in sustainability as it seeks to gain a stronger foothold in the wider tech world .
We’ll rub shoulders with the biggest names in technology, as major brands come together to introduce a new generation of products focused on sustainability.
Building on our incentive model, learn how we’re using Web3 to empower and engage a world of Web2 users and beyond.– vechain (@vechainofficial) February 14, 2024
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VeChain, as an enterprise-grade blockchain protocol, has always placed itself at the center of the sustainability revolution and carbon reduction. Over the past few years, the company has entered into significant partnerships to expand the reach of its unique solutions. One of those partnerships was with global consulting giant BCG.
According to VeChain, the protocol will rub shoulders with the biggest names in tech with its latest lineup of sustainability-focused products.
Bullish VeChain Price Predictions
VeChain’s price recovery, which pushed it to a 52-week high of $0.04822, has prompted many positive projections from market analysts. Many believe this gathering is the start of something epic, with Ali Martinez predict a probable new test of the absolute record (ATH) this year.
While there is the main obstacles to overcome As it heads towards new highs, VeChain has the right fundamentals that support the likelihood of a more massive breakout beyond the 56.55% it recorded over the past 7 days.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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