VeChain, a well-known cryptocurrency, has experienced significant growth in previous bull cycles, and despite being considered an “old coin,” it is predicted to make a strong comeback in the current bull market. The token has gone through two cycles, initially as an ERC-20 token called VEN and later as a standalone project known as VET. Now, an analyst suggests that VeChain is poised for a third surge that could potentially result in a staggering 5,000% increase.
In the past, VeChain has demonstrated its explosive potential, recording gains of over 17,000% in previous bull markets, making it one of the most impressive cryptocurrencies in the market. However, lately, the spotlight has been on tokens like Solana and Avalanche, attracting most of the investor funding. Nevertheless, according to the analyst, VET could be one of the tokens to watch in the current bull cycle, with a predicted surge of over 5,000%.
Currently, VeChain is trading at $0.03453, experiencing a slight decrease of just over 4% in the past day. However, over the past month, it has gained 60%, and since the beginning of the year, it has skyrocketed by 122%. Despite its market capitalization exceeding $2.5 billion, the token has struggled to attract investor interest, with a trading volume of only $49 million. It ranks below smaller projects such as Terra Classic, NEO, Axie Infinity, and MultiverseX (formerly Elrond).
Despite losing favor with investors, the analyst believes that VeChain could be the project to watch in the upcoming bull cycle. Known as Raidenx, the analyst predicts that VET will reach $1, resulting in a surge of 5,400% from its current price. This surge would push its market capitalization to $72 billion, a figure surpassed only by Bitcoin, Ether, and Tether.
The analyst urges investors to ignore influencers who dismiss VET as an “old coin” and highlights the potential that lies ahead. VeChain has already gone through two successful bull cycles, experiencing gains of 18,800% and 17,000% in each cycle, respectively. These gains occurred after the project migrated from the Ethereum network to its own blockchain and rebranded as VET. The analyst emphasizes that VET outperformed 99% of new coins in the previous cycle, proving its resilience and potential for growth.
In addition to its impressive performance, VeChain has also made significant strides in promoting blockchain-based environmental conservation. Through its partnership with BCG, the project has become a leading example of using blockchain to incentivize and reward users for their efforts in saving the planet.
Considering all these factors, coupled with the potential for a parabolic run in the entire crypto market due to the introduction of BTC ETF and ETH ETF, the analyst foresees another remarkable rally for VET. This rally, which many may not expect, is expected to outperform many new coins, just as it did in the past. The analyst encourages investors to take advantage of this opportunity and spread the word about VeChain’s potential.