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VeChain’s Bullish Surge: VET Hits 10-Month High, VTHO Rallies 43% in a Week

14Dec

By OLAJIDE SAMUELNo Comments

Blockchain

VeChain’s Bullish Surge: VET Hits 10-Month High, VTHO Rallies 43% in a Week

In anticipation of an imminent bull run, the VeChain blockchain has witnessed a series of bullish developments, igniting investor optimism and driving notable price rallies for its ecosystem tokens, VET and VTHO. VET, as the primary utility token of VeChain, has taken the spotlight with its bullish trajectory. The upward trend for VET commenced on November 30, following a three-week consolidation period. In late October, VET experienced a substantial rally, surging from $0.0163 on October 19 to $0.023 on November 9, marking a 41% increase in just three weeks. However, the $0.023 high posed formidable resistance, leading to a three-week consolidation. Read Also: XRP's Bullish Outlook: Abs Highlights Potential Bull Run Following Unique Flag Formation During this consolidation ph...

VeChain (VET) Analyst Project Significant Rally, Targeting $1.6 Price Level.

In a recent analysis, renowned chartist and analyst Egrag made a compelling case for a significant rally in the price of VeChain (VET), projecting a target of $1.6. Egrag's analysis is based on technical indicators and historical patterns, suggesting that VET is poised for a bullish breakout. Renowned chartists (Analyst) Egrag and World of Charts provide a bullish analysis of the VET price trajectory Egrag emphasizes the critical nature of VET's price action and identifies the current phase as an accumulation period, presenting a life-changing buying opportunity for investors. Drawing from a previous cycle's fractal, the analyst confidently states that a price level of $1.6 can easily be achieved once the market conditions align. Read Also: Terra Classic (LUNC) Community Member Raises...

Binance.US Launches Staking For The VeChain Token, It Says Its Customers Can Stake And Earn 1% APY.

According to a recent tweet, Binance.US announces that it has launched staking for the VeChain token (VET). Binance.US Launches VeChain Staking Per the tweet, Binance.US made it known that its users who stake their VET will earn 1% APY, which will be paid in VeThor (VTHO). https://twitter.com/BinanceUS/status/1582779386251857921 Furthermore, Binance.US said that the staking rewards for VET would be paid out weekly. In addition, there is no mandatory lock-up period for VET staking, as customers can unlock their staked funds whenever they choose without incurring any fee. Read Also: VeChain Partners With Venice Sustainable Fashion Forum To Enhance Sustainability In fashion Supply Chain Binance.US noted; customers can now buy, sell, convert, or stake VET, and also buy, ...