VeChain Price Analysis: VeChain (VET) Made A Steep Fall Yesterday

Plair, a decentralized gaming ecosystem, has released a new Alpha 0.8 update running on VeChain Thor Mainnet. The latest update has two key features, including CS: GO Tournaments and Smart Contract. The new development supports all the actions involving PLA transactions, staking of PLA, automatic match verification, transparent p2p transaction, and rewards distribution.

Current Statistics of VeChain:

  • VeChain price against USD was trading around $0.00488740.
  • Against Bitcoin, the VET coin was valued around 0.00000042 BTC per chip.
  • Additionally, the market capitalization of the VET coin was around 270,630,208 USD.
  • At the same time, the 24-hour volume in the altcoin was 25,588,816 USD.
  • With an ROI of -67.55%, the number of VeChain chips circulating in the market was 55,454,734,800 VET.

VET to USD Price Comparison:

VeChain price Prediction
VeChain price chart by TradingView

Let’s look at the fluctuation at the VET price over a period of 25-days. On July 13, VeChain price was trading around 0.00691754 USD. Today, the altcoin has declined by a huge margin of 29.34%. Again in the weekly trading, the altcoin degraded by 12.99% from the level of 0.00562086 USD on August 01.

VeChain Price Prediction:

It seems that the bearish trend will persist for a couple of days more. Interestingly, the crypto has shown some strengthening on the day before yesterday, but in the intraday trading on the previous day, it fell by around 7.5%. As of now, the immediate resistance for the coin is at 0.00514666 USD, and the support level is at 0.004678666 USD.


Online gaming is one of the largest industries in the current market and enjoys a dedicated base of players. Not only that, it has a number of subsidiaries including streaming, discord channels, in-game purchases, PvP gaming, and others. All these combined covers a huge chunk of consumer base and having a grip over can lead to the rapid growth of any organization. This will surely bring good fortune for VeChain Foundation.

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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