VeChain has experienced a significant price increase of nearly 23% in the past two weeks, marking a renewed rally for the VET token. This surge in price coincides with the launch of VeChain’s MaaS platform and its partnership with Italian MotoGP champions Gresini Racing and VeBetterDAO, a sustainability decentralized application (dApp) that distributed new tokens.
After losing momentum earlier this month, VeChain has regained its footing and experienced a resurgence in the past two weeks. It has seen a 10% increase in the past seven days and over 20% in the past two weeks. Currently, VET is trading at $0.0457. Although it has traded sideways in the past day with an intraday high of $0.0460, trading volume has decreased by 33% to $59.57 million.
Although VET’s momentum has slowed down since the weekend, it has been on a positive trajectory in the past two weeks. At the beginning of the month, it experienced a significant rally that reached a two-year high above $0.051. However, the momentum tapered off in the middle of the month, hitting a low point on March 19 at $0.03718.
Since reaching its lowest point, VET has been on an upward trend, reaching a two-week high of $0.04729 five days later, marking a 27% increase. Although the momentum has slightly decreased, VET remains one of the best-performing large-cap tokens during this period.
VeChain’s recent market movements are driven by significant developments within the VeChain ecosystem. Unlike many other cryptocurrencies in the current bull market, VET’s price movements are supported by tangible advancements. In the past two weeks, two new developments have been launched to enhance the utility of the VeChain ecosystem.
The first development is VeBetterDAO, a sustainability platform that was unveiled during the Mobile World Congress in Barcelona. Developed in collaboration with the Boston Consulting Group, this platform incentivizes users to engage in specific sustainability activities. It aligns with VeChain’s X-2-Earn efforts and aims to promote sustainable practices.
Shortly after its launch, VeChain introduced two new tokens for the VeBetterDAO ecosystem. The first token, B3TR, serves as a general incentive for users who participate in sustainability actions. VeChain plans to airdrop one million B3TR tokens through various campaigns and social media platforms.
VeChain has also launched its marketplace-as-a-service (MaaS) platform. The company partnered with Gresini Racing, a prominent MotoGP champion team, to onboard them as the first enterprise user. Through this partnership, Gresini Racing will be able to launch NFTs and other digital tokens on the platform, engaging with its millions of fans. This collaboration demonstrates that blockchain technology can be utilized by any company to interact with its target audience in innovative ways.
VeChain’s recent developments, including VeBetterDAO and the MaaS platform, have not only boosted user participation but also garnered mainstream visibility. The partnership with Cambridge University for the VeBetterDAO hackathon further contributes to the platform’s growth and success.
Overall, VeChain’s recent price rally and ecosystem developments have propelled its success and positioned it as a promising cryptocurrency in the market.