Categories: CryptoNews

VeChain Price Trend Mimics Other Altcoins and Moves up Slightly

The glorious days of cryptocurrency trading are seemingly upon us once again. Following some surprising developments over the course of the past three days, it seems things may shift into a higher gear. The VeChain price shows there is a lot of positive momentum left in the tank. Solid minor gains across the board spark some community excitement at this time.

VeChain Price Starts Creeping up Again

Although most people have some degree of expectation for Vechain over the coming months and years, its valuation often shows an entirely different sentiment. Most of the time, this token notes an absolutely flat price chart. There is nothing wrong with that aspect, as a lack of volatility can also be a pretty big selling point. Even so, it seems the most recent gains show things move in a decisive direction moving forward.

To put this in perspective, there have been some minor VeChain price changes over the past hour or two. Nothing to be overly excited about, yet a 2.6% gain in USD and Bitcoin value is not all that bad either. Because of this minor surge, one VET is now valued at $0.004 or 111 Satoshi. Both levels appear more than respectable, given the current overall market trend.

RB3 is keeping a “scoreboard” of cryptocurrencies, tokens, and digital assets these days It would appear VeChain is mentioned in this list primarily because it succeeds in noting some actual gains. Compared to some of the other currencies on the market. VET is doing just fine. Bigger gains might be favorable, but slow and steady will always be the favorable approach.

There is some very peculiar trading behavior going on where VeChain is concerned. On Binance, someone has put up a 25 million VET sell wall one Satoshi above a 64m VET buy wall. One would expect traders to either dump into the buy wall or try to suppress the price in a more convincing manner. This behavior will allow for quick profits, though, but it will seemingly not keep the VET price down for long.

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Crypto News 360 considers VeChain to be one of the most undervalued” coins on the market today. A bit of an odd sentiment, as there are other projects with working tech which sit well below VeChain in terms of market cap. As such, there is plenty of potential in the industry as a whole. Unlocking that potential and turning it into value gains may prove somewhat difficult.

Keeping all of this information in mind, it’s not hard to see where the sudden VeChain spike is coming from. While it is not as prevalent as Litecoin or Binance Coin, every small gain needs to be taken into account at all times. For the time being, the token is seemingly in a good place, although that situation can always change if Bitcoin were to turn bearish again.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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