VeChain, the blockchain platform focused on sustainability, has introduced a new software development kit (SDK) to streamline the process of creating decentralized applications (dApps). The goal is to encourage developers to build on the VeChain network, bringing real-world solutions and attracting new users.
The VeChain team believes that developers play a crucial role in introducing innovative solutions to address real-world issues. These solutions not only drive utility and user adoption of the network but also increase the demand for VeChain’s native token, VET, which has been gaining popularity.
The new SDK simplifies the process of building on the VeChain platform, making the development journey seamless for both enterprise clients and Web3 natives.
This announcement comes shortly after the introduction of VeBetterDAO, a Decentralized Autonomous Organization (DAO) aimed at promoting community engagement and driving sustainability initiatives. The project introduced two main tokens, VOT3 and B3TR, to facilitate effective implementation. VOT3 serves as a governance token, enabling holders to vote on proposals and earn rewards by staking, while B3TR powers the entire DAO, incentivizing participation and supporting eco-friendly projects.
These recent developments have contributed to the impressive performance of VeChain’s VET token. Over the past 30 days, VET has gained more than 30% in value. On-chain data, network growth, and investor interest all indicate a bullish outlook for the token.
Crypto analyst EGRAG is optimistic about VET, predicting a three-phase breakout. If the bulls prevail, VET could surpass $0.053 and even reach $0.09. In a parabolic breakout scenario, VET could surge to $0.23, marking a 390% increase. Long-term projections suggest that VET could surpass $1, although profit-taking at its previous high of $0.281 may present a challenge.
The positive outlook is further supported by increased investor exposure. Coinbase’s expansion into Germany includes the addition of VeChain (VET) and other digital assets to its platform, reflecting growing anticipation within the VeChain community.
In addition to forging key partnerships and addressing sustainability issues, VeChain aims to make a significant impact on the financial industry. The project has filed a new trademark that positions it to tap into the global payments market. Analysts are bullish on VeChain, with a potential 600% growth forecast.
At the time of writing, VET is trading at $0.0447, with a nearly 4% increase in the past 24 hours. This recovery partially offsets the 8% drop experienced earlier in the week.
Investors remain optimistic about VET’s future, hoping that it can maintain its bullish momentum and retest its yearly high of $0.055 achieved during the recent breakout.