Analysis Today TheBitTimes.com

VeChain (VET) has been gaining momentum in the cryptocurrency market, showcasing impressive performance amid a broader rally sparked by Bitcoin. With a noteworthy 11% surge in the past 24 hours and a significant 24% increase from last week’s lows, VET is currently trading at $0.04551, drawing attention from investors globally. Analyst Predictions Crypto analyst Ali Martinez has chimed in on VET’s potential, indicating that the coin still has room for further growth. Martinez has outlined long-term targets for VET, envisioning it reaching as high as $0.7 per coin. In a recent tweet, Martinez highlighted the consolidation pattern observed in VET before its bullish phase. According to Martinez’s analysis, VET remained relatively stagnant for 595 days before witnessing a surge in 2021. This culminates in a record high of $0.2782 in April. It feels like it will be a big week for # VeChain ! If history repeats itself, $ VET could be looking at a move to $0.054 ...

During the second bull peak of 2021, most cryptos rallied along with Bitcoin when it created the $69,000 peak. Along with the price of assets, even the funds locked on DeFi protocols like Uniswap climbed highs. Such was the state of Vechain too. Back in December 2021, the TVL on the platform stood as high as $35 million. Then, during the bear market onset, this metric noted a sharp fall. By June 2022, the number was hovering 89% lower, around $4 million. Leaving aside one recovery attempt, the TVL kept shrinking. At press time, the value of all the assets locked on VeChain was only worth $1.13 million, down 97%. Source: DeFiLlama Currently, VeChain has only two protocols, both of which fall under the DEX category. Vexchange, the decentralized swap platform, contributes a 2/3rd of the TVL share. VeRocket, the token exchange platform, on the other hand, has the remaining 1/3rd say. Over the past month, the value of funds locked on both protocols has inclined by 11% and 32% respect...

The VeChain foundation recently announced an international collaboration with China’s Animal Health and Food Safety Alliance (CAFA). VeChain will provide services to enhance the animal food supply chain traceability to improve safety and quality control. The blockchain network aims to unleash food quality potential for animals through the global supply chain power. The collaboration comes after The HiVe summit early this month, where the foundation joined hands with the Boston Consulting Group. You can read more details about the partnership here. Also Read: Fed’s Emergency Loan May Bring $2 Trillion Into U.S. Banking System: JPMorgan VeChain: Will The Development Make VET Reach $0.1? Source: Currency.com / Shutterstock VeChain is currently trading at $0.022 after rising to a yearly high of $0.31, in mid-February. VET has doubled in price since the start of January, and it is now shedding a large portion of its gains in March. The CAFA collaboration is a good use case, ...