Connect with us

Altcoin

VeChain : New roadmap revealed and this is how it can affect VET

Published

on

VeChain : New roadmap revealed and this is how it can affect VET
Source: StockAI


  • VeChain’s new roadmap highlighted the planned updates for 2023-24.
  • Metrics and market indicators were bullish for the token.

VeChain [VET] recently posted its new roadmap for 2023–2024, highlighting all the planned updates that are going to happen over the coming months. The roadmap looked optimistic for VeChain, as it suggested that the network has a long way to go in this new year. 

A few of the major updates include the planned launch of a wallet for the ecosystem and NFT marketplace in the first half of 2023.

VeChain revealed that in the second half of this year, the team will be working on product NFT for the metaverse and tokenization for sustainability.

The roadmap also mentioned that in the first quarter of the next year, they will be working on the algorithmic stablecoins community and DAO operating system.


Read VeChain’s [VET] Price Prediction 2023-24


Much achieved in 2022

While the way forward looks promising for the network, the last year also remained pretty happening. For instance, in 2022, new addresses reached 304,355.

The annual total transactions crossed 12.9 million, and the number of NFT transactions reached 2.7 million. VeChain also remained home to over 50 NFT projects during the last year. In addition to that, the number of exchanges that listed VET reached 42.

These developments that happened last year affected VET on its metrics front as well. Over the last month, VET’s social volume remained up, reflecting the network’s popularity.

There was also a spike in VET’s Binance funding rate recently, which showed its increased demand in the derivatives market. However, a negative signal was that the network’s development activity registered a decrease. But now, with the new roadmap, it is very likely that the graph will go up. 

Source: Santiment


How much are 1,10,100 VETs worth today


VET is rising

CoinMarketCap’s data revealed that VET registered over 24% weekly gains, and at the time of writing, it was trading at $0.0205 with a market capitalization of more than $1.4 billion.

VET’s daily chart also painted a bullish picture, as most of the market indicators suggested a continued price hike. The Exponential Moving Average (EMA) Ribbon displayed a bullish crossover.

The Bollinger Band revealed that VET’s price was entering a high volatility zone, further increasing the chances of a surge. Nonetheless, the On Balance Volume (OBV) registered a slight uptick, which was in the sellers’ favor. 

Source: TradingView

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.


Please select your Email Preferences.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.