Analysts are bullish about a surge in Vechain

The performance of a crypto depends on several factors playing out in any combination. Volatility is only constant, a major factor that affects where a token moves on the graph. Sentiments are more or less the same for Vechain, except analysts are bullish about it, expecting a surge in the coming months.

VET, its native token, was last seen exchanging hands at $0.02938, with an increase of 0.99% in the last 24 hours. Making it more bullish is the fact that the rise spreads over 7 days for 2.15%. The crypto dances around $0.0290 to make sure that the seat is comfortably tagged as a support level.

Crypto ZX – A YouTuber believes in VET price surge

Another factor that may be working in favor of VET is the number of partnerships or developments in the ecosystem. All of them have been hailed in the industry for two fundamental grounds, namely sustainability and scalability. Market sentiments are thriving post-Spot Bitcoin ETF approval, on top of the stated factors.

Crypto ZX, a YouTuber, has been covering updates in the industry and bringing them out to crypto enthusiasts. They have over 37.8k subscribers, and coverage is in more than 2.1k videos.

They believe that a surge to a new ATH is inevitable. Most of it is based on the consolidation trend, where the figure of $0.03 will form a new range. Rising as high as $0.04425 will pave the way for a higher rise, ticking the current resistance level. The most recent downturn reflects ongoing fluctuation, but a retracement of ~17.26% is on the table for a surge to a new ATH, added Crypto ZX.

Also, they have cautioned the community that these are only speculations, with him being very optimistic about the future of Vechain-VET.

Previous predictions by Crypto ZX have been primarily based on Solana’s SOL. He did speculate that SOL would surprise the market, and it did. To reiterate in their own words, these are only speculations at the end of the day.

What 2024 will be for Vechain (VET)?

Predicting 2024 for VET, or any other crypto token, is guessing when a bay will let its parents sleep. This means that anything can happen, and the market can cry about a crash at any moment. What keeps it up with a happy face is the upcoming Bitcoin Halving and the potential ripple effect on other cryptos.

Among everything, the one thing to look out for is VORJ. It enables users to create their NFTs and fungible tokens without requiring them to have any knowledge about coding. It sounds attractive because it is indeed attractive. Users are also not required to make themselves friendly with jargon, as guides come without one.

The platform can be navigated via any device as long as the user is connected to the Internet. Account creation and user registration on VORJ are generic and self-explained, followed by the happening aspect of creating FTs and NFTs. Assuming it pumps the user base, the ecosystem and the demand for VET plus its network will expand. Fueling the token could come naturally to it, with VET running upward until December 31, 2024. VET price prediction estimated the crypto to end 2024 at $0.063, which is seemingly possible if VORJ turns successful.

Hot news from Vechain developer team

Scalability will be at the core of everything that the Vechain developer team does. Additional emphasis is on interoperability with VeChain Thor becoming truly seamless and upgrading to user security/account recovery options. The usage of blockchain in Web2 is increasing every day. This is reflected in social logins for decentralized applications, that is, dApps.

NFTs have started having their native smart contract wallets to offer more opportunities to builders. Vechain has acknowledged this announcement by the developer team, endorsed it, and appreciated them for their hard work.

Another piece of hot news pertains to the VeChain dApp Kit. It has been crafted to provide a state-of-the-art frontend library to dApp developers, enabling them access to a simplified development process on the VeChainThor blockchain. The platform comes with not just simplified wallet management but also easy react integration and enhanced components of the user interface. Multiple language support and open NPM packages are on top of it.

Amid all of it, the deployment of account abstraction and token-bound account smart contracts on testnet and mainnet continues to steal the show.

Conclusion

The future outlook of Vechain is optimistic. VET is poised to set a new resistance milestone and touch a new ATH. Bullish sentiments back speculations that state that all of it could happen by the end of 2024. Growth and adoption of Vechain in a positive environment will have potential implications for traders and investors.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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