- VeChain (VET) shows short-term gains but faces losses over the past week and month.
- Speculation surrounds VET’s momentum amid potential integrations and developments.
VeChain (VET) has shown signs of a comeback, printing a 2.9% and 2.1% gain in the 1-hour and 24-hour timeframe. Nonetheless, VET has witnessed a 6.5% in the past week and 10.8% over the past month.
VET has highlighted its position in the RWA space, offering services in the “automotive sector, food safety, medicine, luxury fashion, the certification sector, supply chains, and more. ”
The platform has indicated intentions of continuing on this trajectory, with a tweet on its X page stating, “We’re far from done—$VET is tokenizing the world.”
As Sunny humorously quipped in an X Space recently, “We are the kings of #RWA“.
Since #VeChain‘s launch in 2015, we’ve worked in the automotive sector, food safety, medicine, luxury fashion, the certification sector, supply chains and more.
Now, we’re going even further,… https://t.co/fJ4zPFpNYs
— vechain (@vechainofficial) April 8, 2024
As the Bitcoin halving draws close, coupled with the current event surrounding VeChain, there’s speculation that its increasing momentum could surpass the current resistance level.
Weekly Price Forecast for VeChain (VET)
Analysis from CoinCodex indicates that VeChain (VET) could experience a price decline this week.
VET is projected to drop to $0.038615 by April 16, representing a 10.4% decrease from current levels. However, this dip is expected to be followed by a possible recovery by the end of the month.
In contrast, Changelly predicts VET to peak at $0.0438 in April, potentially signaling a downward trend from its current $0.043. The impending Bitcoin halving might influence VET’s trajectory, which is historically regarded as bullish due to supply reduction.
Should Bitcoin rally and reclaim its $73,737 all-time high, it could trigger a market-wide surge, benefiting VET. However, there’s a chance the halving could prompt a “sell-the-news,” resulting in a bearish market for VET.
Meanwhile, analyst Crypto Nympho revealed on his X account that some big news is coming for Vechain this month. His post captured an “announcement of someone famous integrating Vechain at #ParisBlockchainWeek! And also rumors of #fireblocks custodian integration!”
Some big things coming for #vechain this month ! $VET $VTHO
Announcement of someone famous integrating Vechain at #ParisBlockchainWeek !
And also rumours of #fireblocks custodian integration ! $BTC $ETH $USDC $USDT all on vechain soon! transactions and TVL are going to ramp… pic.twitter.com/oENygNeYVD
— Crypto Nympho Ⓥ (@CryptoNymphoo) April 1, 2024
He also states that VeChain is set to integrate Bitcoin, Ethereum, USDC, and USDT. This development is expected to drive up transactions and Total Value Locked (TVL), which could boost VET’s performance.
He asserts, “So it’s all but confirmed and huge news! Finally, we can get all $BTC $USDC $USDT wrapped on Vechain for fast and efficient transfers.”
in the last twitter spaces sunny slipped up and said
” when the integration with fireblocks custodian ”
so it’s all but confirmed and huge news! finally we can get all $BTC $USDC $USDT wrapped on vechain for fast and efficient transfers
— Crypto Nympho Ⓥ (@CryptoNymphoo) April 1, 2024
Register at Binance