In what has been a dominant year for the cryptocurrency, VeChain (VET) is up as much as 115% this year, with many believing that the highly anticipated price of $0.1 may just be the beginning for the asset. The token has been one of the surprises of the ongoing bull market that set off in early November.
Moreover, the surging value looks closely tied to the ‘VeChain Renaissance’ recently announced by the network. Indeed, the project has continued to embrace ways to better position itself for the ongoing crypto revolution. With assets surging in value and relevance, VET may just be an unexpected benefactor.
Also Read: VeChain Surges 12%, But How High Will VET End 2024?
VeChain Aiming High for 2025: Can It Repeat 115% Year?
This year has been an unforgettable one for the cryptocurrency industry. The market has surged in both interest and investment and become a clear focus of a growing finance sector. Although growth had been steady since January, it went into overdrive when November arrived.
The 2024 presidential election win for Donald Trump resulted in a euphoric response from traders. With favorable regulation on the horizon, Bitcoin led the asset class by becoming the first crypto to reach a six-figure price. However, one of the emerging winners of that ongoing bull run was VeChain, which is up 115% in the last year and has many believing an increase to $0.1 is just the beginning
Also Read: 200% Rally Has VeChain (VET) Eyeing a Yearly High in December
Over the last 30 days, VeChain is up more than 136%, according to CoinMarketCap. Additionally, its 6% increase over the last 24 hours has the asset trading firmly above the $0.61 mark. After the asset experienced a bearish reversal early in the week, there is beleif it could end the month near the $0.08 level.
Such an increase would have VET challenging its highest level since 2021. Cryptocurrency prediction platform CoinCodex has projected VeChain to continue gaining well into next year. Specifically, they project the asset to surpass $0.1 in March
Reaching an average price of $0.15, VeChain would continue above that level for the rest of the year. However, the asset will have its moment in both March and April, when it is expected to reach a maximum price of $0.23.
