The coin that has attracted attention recently VeChain, has become trending among the crypto community. In this context, VeChain, launched in 2015, broke its native token VET’s all-time high of $0.2782. With this success, it gained immense popularity among crypto investors.
The altcoin seems far from its former glory. However, VeChain is still gaining traction and is ranked 42nd on CoinmarketCap. This news will discuss why VeChain is trending and how it performs in the market.
VeChain Price Analysis
VET price increased by 4% in the last 24 hours, reaching $0.04597. Additionally, it is still up 8% over the course of a week. However, it would be more accurate to say that the best performing days are behind us. Because the VET token was at the top of the list earlier in the month. Prices hit a 22-month high of $0.05141 on March 3.
Its market capitalization reached $3,348,011,793 with a trading volume of $113,783,341, following a 4% increase. This increase is many cryptocurrency It started the formation of a new peak after the decline in prices of the unit in the previous week due to downward market trends.
With the crypto market recovering, VeChain’s price is also showing signs of recovery.
Why VeChain Is Trending
The main reason for VeChain’s popularity is its efforts to build supply chains and a decentralized ecosystem. In line with this goal, the platform recently launched a new product.
VeChain introduced MaaS, a new digital asset tokenization platform, in collaboration with Gresini Racing. It was announced via an X post to share the news with the community and mention the new partnership. The company aims to simplify the asset tokenization process without requiring coding. aims.
We’re excited to announce our new digital asset tokenization platform – MaaS – is now live with it’s first enterprise user – MotoGP champions; Gresini Racing!
MaaS’ launch is timely as we look ahead and build tools to onboard a rapidly tokenizing world, with projections of $16… pic.twitter.com/iN5yT1VKC3
— vechain (@vechainofficial) March 27, 2024
MotoGP Champion Gresini Racing will use MaaS to engage with its audience and offer NFTs and digital collectibles. Thanks to this collaboration, MotoGP fans will have the opportunity to get some Gresini Racing NFT items that they will cherish for a lifetime.
VeChain demonstrates its commitment to developing the web3 industry by working on various projects based on blockchain applications.
Last month, it introduced sustainability among decentralized application systems by launching sustainability platform VeBetterDAO. The platform initiated an airdrop with some of its newly launched $B3TR tokens and this was the main reason behind the price increase in early March.
We’re incredibly excited to announce the launch of our new #sustainability platform – VeBetterDAO – alongside two new tokens $B3TR and $VOT3!
VeBetterDAO is built to become the enabler of a cross-industry sustainability dApp ecosystem, driving adoption of Web3 tech across… pic.twitter.com/wFhxm30SeY
— vechain (@vechainofficial) February 28, 2024
VeChain has taken another step towards improving the web3 world with the introduction of MaaS. The platform is trending on many social media platforms where X has more than 2500 tweets related to the platform alone. The price has also recently increased by 4%, setting a new high for the week.
