VeChain (VET) Skyrockets 45%: What’s Driving It?

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class="article__author-desc">VeChain has been on run, skyrocketing 45% in hours</div> </div> <div class="article__wrap"> <div class="article__sticky"> <div class="share share--sticky"> <button class="btn--light share__btn" aria-label="Share btn"></button> <a class="share__link share__link--x" href="#" onClick='gEvent("twitter","shareSlide");window.open("https://twitter.com/intent/tweet?url=https://u.today/vechain-vet-skyrockets-45-whats-driving-it&text=VeChain (VET) Skyrockets 45%: What’s Driving It?", "Twtitter Sharing", "width=1200,height=600");return false;' title="Share to X"></a><a class="share__link share__link--fb" href="#" onClick='gEvent("facebook","shareSlide");window.open("http://www.facebook.com/sharer/sharer.php?u=https://u.today/vechain-vet-skyrockets-45-whats-driving-it&text=VeChain (VET) Skyrockets 45%: What’s Driving It?", "Facebook Sharing", "width=1200,height=600");return false;' title="Share to Facebook"></a><a class="share__link share__link--rd" href="#" 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article__short-humble"> Sat, 23/11/2024 - 15:15 </div> </div> <div class="article__main-btns"> <div class="article__fontSize"> <div class="btn--light article__fontSize-toggle"></div> <div class="article__fontSize-menu"> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-small"></div> </div> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-medium"></div> </div> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-large"></div> </div> </div> </div> <div class="article__listen"> <audio class="article__listen-audio" src="/tts/?page=59997" preload="none"></audio> <button class="btn--light article__listen-btn" aria-label="Play/pause audio"></button> </div> </div> </div> <div class="article__img--wrap"> <img class="article__img" src="/sites/default/files/styles/736/public/2024-11/1000021627.jpg" alt="VeChain (VET) Skyrockets 45%: What’s Driving It?"> </div> <figcaption title="https://www.freepik.com/premium-ai-image/stacks-golden-coins_347156652.htm#&position=6&from_view=user&uuid=02a3a9bd-5679-4dd5-b497-593d5fc7d2af">Cover image via <a href="https://www.freepik.com/premium-ai-image/stacks-golden-coins_347156652.htm#&position=6&from_view=user&uuid=02a3a9bd-5679-4dd5-b497-593d5fc7d2af">www.freepik.com</a></figcaption> <div class="disclaimer"> <p class="disclaimer_text">Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.</p> </div> </div> <div class="article__gnews"> <a class="article__gnews-body" href="https://news.google.com/publications/CAAqBwgKMMy2lQsw3ZqrAw?hl=en-US&gl=US&ceid=US:en" target="_blank"> <div class="article__gnews-text">Read U.TODAY on</div> <div class="article__gnews-title">Google News</div> </a> </div> <div class="article__content"> <p><a href="https://u.today/vechain-vet-skyrocketed-31-in-day-whats-behind-it">VeChain (VET)</a> has been on a tear lately, surging over 45% in the last 24 hours.</p><p>VeChain, a Layer-1 blockchain that allows developers to create real-world/enterprise dApps, seems to be profiting from the overall bullish sentiment in the cryptocurrency market.</p><p>With Bitcoin nearing $100,000, profits continue redistributing to altcoins, which are presently soaring.</p><div class="hot"> <div class="hot__head"> <div class="hot__title">HOT Stories</div> <a rel="nofollow" target="_blank" class="btn btn--light hot__btn" href="/hot-stories" title="Go to Hot stories"> </a> </div> <div class="hot__body"> <a href="https://u.today/xrp-to-2-this-crucial-level-needs-to-be-cleared-first" class="hot__col"> <div class="hot__col-name">XRP to $2: This Crucial Level Needs to Be Cleared First</div> </a> <a href="https://u.today/ripple-mints-gigantic-105-million-rlusd-stablecoin-in-one-go" class="hot__col"> <div class="hot__col-name">Ripple Mints Gigantic 10.5 Million RLUSD Stablecoin in One Go</div> </a> <a href="https://u.today/stellar-xlm-price-sensationally-jumps-by-56-overnight" class="hot__col"> <div class="hot__col-name">Stellar (XLM) Price Sensationally Jumps by 56% Overnight</div> </a> <a href="https://u.today/rich-dad-poor-dad-author-im-following-saylors-tactical-bitcoin-investment-plan" class="hot__col"> <div class="hot__col-name">'Rich Dad Poor Dad' Author: 'I'm Following Saylor's Tactical Bitcoin Investment Plan'</div> </a> </div> </div><p>VeChain has shot up in price, too: it is now trading for over $0.043 after a 45% jump in price today.</p><div class="something"> <div class="something__title">Advertisement</div> <div class="something__nav"> <button class="btn btn--light something__close" aria-label="Close ad"></button> </div> <div class="something__content"> <div class="something__content--long">  <ins class="adsbygoogle" style="display:inline-block;width:728px;height:200px" data-ad-client="ca-pub-9245916885225528" data-ad-slot="3561648781"></ins> </div> <div class="something__content--square">  <ins class="adsbygoogle" style="display:inline-block;width:300px;height:600px" data-ad-client="ca-pub-9245916885225528" data-ad-slot="2056995427"></ins> </div> </div> </div><p>Aside from the current positive sentiment in the market, ongoing developments, including updates to its blockchain technology, enhanced security features, and expanding use cases appear to have boosted VET's recent price increase.</p><p><div class="article__related"> <div class="article__related-flame">Related</div> <div class="category-item"><a class="category-item__img-wrapper" href="https://u.today/vechain-vet-skyrocketed-31-in-day-whats-behind-it"><img alt="VeChain (VET) Skyrocketed 31% in Day; What's Behind It?" class="category-item__img" src="https://u.today/sites/default/files/styles/300/public/2024-02/45108.jpg" width="240" height="136"></a> <div class="category-item__info"> <div class="category-item__head humble__row"> <div class="humble humble--time">Thu, 02/15/2024 - 16:45</div> </div><a class="category-item__title-link" href="https://u.today/vechain-vet-skyrocketed-31-in-day-whats-behind-it"> <div class="category-item__title">VeChain (VET) Skyrocketed 31% in Day; What's Behind It?</div></a> <div class="category-item__footer"><a class="humble humble--author" href="/tomiwabold-olajide"><img class="humble__img" src="https://u.today/sites/default/files/styles/130x/public/2021-11/8943.jpg" alt="Tomiwabold Olajide">Tomiwabold Olajide</a></div> </div> </div> </div></p><p>According to information obtained from the VeChain official X handle, VeChain is expecting updates including a new VET road map, ambassador scheme, changes to protocol — tokenomics, a new stablecoin with USDC bridge, VeUSD swap for GloUSD, an incoming marketing agency, among many others.</p><p>VeChain continues to capitalize on its growing adoption and partnerships; most recently, it announced its membership in the European Blockchain Association, indicating a drive to boost adoption in Europe.</p><h2>VET price action</h2><p>VeChain has climbed over the last three days, with today's increase being the highest, as the VET price rose from $0.035 to $0.047.</p><figure><img alt="Article image" src="/sites/default/files/inline-images/1000021628.png" data-entity-uuid="fb0dd649-caf0-4809-ab6d-dfe165d7315a" data-entity-type="file" alt="TradingView " /><figcaption><a rel="dofollow" href="https://www.tradingview.com/x/8ZsutJrR/"><em>VET/USD Daily Chart, Courtesy: TradingView </em></a></figcaption></figure><p>VET price began to rise from a low of $0.03 on Nov. 21; in general, VET has been steadily increasing since Nov. 5, rising from a low of $0.02.</p><p><div class="article__related"> <div class="article__related-flame">Related</div> <div class="category-item"><a class="category-item__img-wrapper" href="https://u.today/vechain-vet-skyrockets-12-after-coinbases-announcement"><img alt="VeChain (VET) Skyrockets 12% After Coinbase's Announcement" class="category-item__img" src="https://u.today/sites/default/files/styles/300/public/2023-06/36506.jpg" width="240" height="136"></a> <div class="category-item__info"> <div class="category-item__head humble__row"> <div class="humble humble--time">Fri, 06/23/2023 - 15:05</div> </div><a class="category-item__title-link" href="https://u.today/vechain-vet-skyrockets-12-after-coinbases-announcement"> <div class="category-item__title">VeChain (VET) Skyrockets 12% After Coinbase's Announcement</div></a> <div class="category-item__footer"><a class="humble humble--author" href="/tomiwabold-olajide"><img class="humble__img" src="https://u.today/sites/default/files/styles/130x/public/2021-11/8943.jpg" alt="Tomiwabold Olajide">Tomiwabold Olajide</a></div> </div> </div> </div></p><p>The surge broke through the daily moving averages of 50 and 200 at $0.023 and $0.026, respectively, which had limited <a href="https://u.today/vechain-vet-skyrockets-12-after-coinbases-announcement">VET's price</a> since April. Today's rise culminated in highs of $0.047, last reached in April of this year.</p><p>Going forward, VET's next resistance range is between $0.52 and $0.54. In the event of a price decrease, significant support is expected at the daily moving averages of 50 and 200.</p><p>At the time of writing, VET was up 36% in the last 24 hours to $0.04373 and up 53% weekly.</p> </div> <div class="article__panel"> <div class="article__tags btns-spacer"> <a class="btn btn--hash-tag" href="/vechain-vet-coin-news-today">#VeChain News</a> </div> </div> </div> </div> <div class="article__author -hr-"> <div class="article__author-label">About the author</div> <a class="article__author-user" href="/tomiwabold-olajide"> <img width="224" height="140" alt="article image" src="https://u.today/sites/default/files/2021-11/8944.jpg" loading="lazy" class="article__author-img" /> <div class="article__author-name">Tomiwabold Olajide</div> </a> <div class="article__author-desc"><p>Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. 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