After its recent increase in value, is now the right time to buy the VET token?

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VeChain VET/USD is a cryptocurrency network that puts a specific focus on supply chain and logistics requirements. 

The VeChainThor Blockchain is the public blockchain that’s behind VeChain, and that runs the VeChain Token (VET), and the VeThor Token VTHO/USD.

VET specifically is used as a means of transferring value across the network, while VTHO is used as the energy required to power the smart contract transactions.

VeChain Thor stands out due to the fact that it uses a consensus mechanism known as Proof-of-Authority (PoA) as a means of achieving consensus.

VeChain ecosystem developments as a catalyst for growth

On March 25, 2022, VeChain teamed up with Draper University as a means of bringing entrepreneurs together to build on the VeChainThor platform.

On March 27, 2022, World of V made an official announcement on Twitter that they have sponsored more than 1 million VTHO tokens, which have allowed artists and collectors to avoid gas fees.

The Co-Founder and CEO of VeChain, Sunny Lu, also made an announcement about the upcoming Crypto and Digital Asset Summit, which is presented by Financial Times Live and The Banker, where the CEO will be joined by a host of other industry experts that are shaping the crypto landscape. 

Should you buy VeChain (VET)?

On March 28, 2022, VeChain (VET) had a value of $0.077024.

vet usd

The all-time high point of value regarding the VeChain (VET) token was on April 19, 2021, when it reached a value of $0.280991. This gives us an indication that the token was $0.203967 higher in value or by 264% at its ATH.

When we go over the performance of the token throughout February, VeChain (VET) had its highest point of value on February 8, 2022, when it reached a value of $0.06856.

Its lowest point of value, however, was on February 24, when the token decreased to a value of $0.04001. This means that the token decreased in value by $0.02855 or by 41%.

From the span of February 24 to March 28, the token increased in value by $0.037014 or by 92%.

With this in mind, we can expect VEt to reach $0.1 by the end of April 2022.

The post After its recent increase in value, is now the right time to buy the VET token? appeared first on Invezz.

from Market Analysis – Invezz

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