VeChain’s price has reached a new two-year record of $0.07901.
VET has risen by more than 250% over the last 30 days. It reached a new two-year peak of $0.07901 at the dawn of this morning.
VET last hit this goal in April 2022 when its price surged above $0.08. VET’s value plummeted soon after and it traded at less than $0.07 in April 2022.
VeChain, in an interesting development, finally broke this resistance as the token surged up to $0.07901. VET is down below the $0.072 level since the achievement of the milestone. However, it still has a 253% gain over the last 30 days.
Why VeChain Surge?
VeChain’s price rise coincides nicely with recent altcoin rallies. Assets such as XRP Cardano Tron Dogecoin and Tron have seen huge gains in value since November.
Tron for instance has surged from $0.85 to $2.85 since the beginning of December 2018. hit Yesterday, the all-time highest (ATH) was $0.4407.
VeChain has not yet set an all-time record, but its price is up more than 3 times, going from $0.01937, to a high of $07901.
VeChain Loses the 27th Place in Global Crypto Ranking
After it surged up to $0.07901, the asset briefly overtook Cronos and POL as the 27th largest cryptocurrency in terms of market capitalization.
After a small correction, however, the crypto market has fallen back down to position 29 in the overall ranking. VET had a $5.75 billion market cap at press time. VeChain has also seen its volume drop by 14.6% in the last 24 hours, to $966.85 millions.
Can VET Hit $0.1?
VeChain has recently experienced a surge in value, and investors are now watching closely to see whether the price will reach $0.1 soon. VET must soar 40.82% above its current value of $0.07101 to achieve this.
Market analytics platform Coincodex has revealed that VET may reach the $0.1 goal by February 2025. Coincodex anticipates VET trading at a price between $0.11 to $0.12 on average over the next three-month period.
Telegaon expects VET aims to reach the $0.1 price mark next year. Its minimum, average and maximum prices are set at $0.16 and $0.31 respectively.
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Source: thecryptobasic.com
