VeChain (VET) Price Jumps 25%, Breakout Above This Level Can Lead to 13x Rally

Amid the broader crypto market rally, altcoins have been having a really great time with VeChain recently joining the party. The Vechain (VET) price has rallied by a staggering 25% in the last 24 hours reaching closer to $0.050 with trading volumes shooting by 600% close to $900 million.

Timeline of Vechain

Bitcoin's bullish momentum has fueled the crypto market to an upward trend. As the flagship cryptocurrency rises to the $52,000 level, several other cryptocurrencies follow its steps closely and exhibit signals of a possible bull run.

A supply and demand-focused altcoin is skyrocketing amid the release of an update that greatly expands its reach. In a new announcement, VeChain (VET) says that its Account Abstraction upgrade is now live, opening up a “whole new world” for the smart contract platform.

VeChain has taken a significant step forward by introducing the Blockchain Biosphere, marking a major advancement in global sustainability endeavors. This network of interconnected ecosystems is designed to address various environmental challenges, showcasing VeChain's commitment to revolutionizing industries and contributing to a more sustainable future.

For about a week, the VET price traded within a consolidated range, fluctuating between $0.02072 and $0.02313. After this period of consolidation, the bulls took control, leading to a breakout from this range.

VeChain (VET) has made a striking comeback, reaching a high of $0.041153 in early December 2023, marking an 84-week peak and a remarkable 180% increase from its September low. This surge has reignited investor optimism for the project's potential revival.

The combination of favorable market indicators and strategic collaborations positions VeChain for continued positive momentum in the foreseeable future. In the ever-changing world of cryptocurrencies, VeChain (VET) shines bright with its impressive growth.

Sunny Lu, CEO at VeChain, recently shared key insights exclusively with Crowdfund Insider. Recently, Vechain hosted its first Hackathon at Harvard University on the 7th and 8th of October.

The dynamic convergence of blockchain and artificial intelligence continues to reshape industries, with pioneering firms SingularityNET and VeChain leading the charge to combat carbon emissions in a groundbreaking partnership.

The Shanghai Stock Exchange has urged bankers to pay close attention to the marketing practices of Chinese drug and medical equipment makers seeking initial public offerings (IPOs) amid an escalating anti-corruption drive in the sector, sources said.

As bulls and bears continue to play tug-o-war on the cryptocurrency market, some of its assets are showing more potential than others to become good investments in the next few weeks, and some of them are still available at a low price of $1 per wholecoin.