Vechain (VET) Soars 100% in Few Weeks: Here are the Key Drivers

0
Vechain

One thing that has remained a constant over the past few years in the crypto space is the sort of seemingly unexplained volatility that is experienced by certain tokens like Vechain (VET). Vechain is a blockchain-powered platform and is primarily meant for helping users with supply chain management solutions.

VET recently enjoyed a massive rally, despite the fact that the larger crypto market has been largely subdued. One of the most important things to point out about this particular project is the fact that it does have a use case.

Why the Sudden Buying Interest?

That being said, there are plenty of altcoins in the crypto sphere that claim to have use cases. Unless the project in question can rope in clients, then there is not much to talk about. However, Vechain has experienced a remarkable rise in the past few weeks.

/**/

VET has gone up by as much as 100% during this period, and it is an understatement to say that crypto traders are now taking notice. However, experts who study the altcoin’s charts have stated that after this sort of rally, VET might be heading for a cooling period.

>> Bakkt to Launch Institutional Bitcoin Custody Services

The altcoin market at large has been showing bullish tendencies to some degree, and hence, the rise of VET is probably not an entirely surprising matter. Analysts who have been watching Vechain’s charts have two estimates of the future with regards to the altcoin. One school of thought believes that there is going to be a slight bearish turn in the coin before it goes on another move.

The other belief is that Vechain might continue to rise over the coming days. It goes without saying that either of those scenarios will be acceptable to traders.

Which argument do you side with?

Featured image: DepositPhotos © nazarenko

If You Liked This Article Click To Share

/* p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }
/*]]>*/

/**/

Subscribe to the E-Crypto Newsletter

Sign up to the best of Crypto, Blockchain and Future Trends news.

Invalid email address
We promise not to spam you. You can unsubscribe at any time.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 9,177.47
ethereum
Ethereum (ETH) $ 238.59
tether
Tether (USDT) $ 0.999266
ripple
XRP (XRP) $ 0.196150
bitcoin-cash
Bitcoin Cash (BCH) $ 236.90
cardano
Cardano (ADA) $ 0.113013
bitcoin-cash-sv
Bitcoin SV (BSV) $ 178.21
litecoin
Litecoin (LTC) $ 44.11
crypto-com-chain
Crypto.com Coin (CRO) $ 0.141950
binancecoin
Binance Coin (BNB) $ 16.61