VeChain (VET) is on a bullish rampage as investors weigh in on the protocol’s prospects ahead of a major announcement.
The digital currency ecosystem is on a major bullish rally at the moment as the price of Bitcoin (BTC) jumped to a new multi-year high above $52,000. The rally stirred an encompassing bullish twist in the broader altcoin market, with VeChain conveniently riding the trend.
VeChain is now one of the altcoins with the biggest gains in the past 24 hours after soaring as high as 31% to $0.04522. The uptick has strengthened the market capitalization of the asset to $3,292,065,663, and the trading volume, which soared by 461% in 24 hours to $547,758,301, shows that the rally is a true testament to a healthy demand on VET.
VeChain Announcement
While we cannot discount the impact of the Bitcoin rally, VeChain as a protocol has also triggered anticipation in the ecosystem with its upcoming announcement. The protocol said in a post on X that it will reveal its next major milestone at the MWC 2024 Event in Barcelona.
At the event in Barcelona 🇪🇸 , we\'ll share a major announcement about how we intend to build Better with blockchain technology. $VET
— vechain (@vechainofficial) February 14, 2024
Though the details of the impending announcement remain elusive, the protocol highlighted how it looks to pioneer the next frontier in sustainability as it seeks a stronger footing in the broader tech world.
We\'ll be rubbing shoulders with the biggest names in tech, as major brands come together to showcase a new generation of products with sustainability at their core.
Building on our incentive model, learn how we\'re using Web3 to empower and engage a world of Web2 users and beyond.— vechain (@vechainofficial) February 14, 2024
VeChain, as an enterprise-grade blockchain protocol, has always infused itself at the center of the sustainability and Carbon reduction revolution. Over the past few years, the firm has inked some important partnerships to expand the reach of its unique solutions. One of these partnerships was with the global consulting giant BCG.
According to VeChain, the protocol will be rubbing shoulders with the biggest names in tech with its latest suite of products with sustainability at its core.
Bullish VeChain Price Forecasts
The revival in the price of VeChain, which has pushed it to a 52-week high of $0.04822, has sparked a lot of positive projections from market analysts. Many believe this rally is the start of something epic, with Ali Martinez predicting a likely retest of the All-Time High (ATH) this year.
While there are key obstacles to surmount as it journeys towards new heights, VeChain has the right fundamentals that are backing the likelihood of a more massive breakout beyond the 56.55% it has recorded in the trailing 7-day period.