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Price Analysis

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.

Conclusion:

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.

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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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