Up 150.3% over the past 14 days, VeChain (VET) is trading at $ 0.23 with 15.6% and 84.4% gains in the daily and weekly chart respectively. In addition to the rally, the company celebrated an important milestone that could give new impetus to the company’s adoption.
Through its Twitter handle, the VeChain Foundation announced that VeChain was named in Forbes Blockchain 50 in 2021. This event was celebrated for its third year and was created to provide “definitive accounting” of those companies using blockchain. technology and cryptocurrencies.
Forbes states that Bitcoin and blockchain will have become mainstream in 2020. With growing interest and use in many industries, this technology has a real impact in the business world. Forbes said:
Bitcoin and blockchain have gone mainstream. Bitcoin’s 2020 surge caught the attention of C-suite executives worldwide; Not only are companies using the technology that underpins Bitcoin to perform tasks such as reconciling invoices and verifying the provenance of products, but dozens now hold Bitcoin as a treasury.
The list includes software company MicroStrategy, led by Michael Saylor; Ant Group, founded by the former executive chairman of Alibaba Group; Binance, Coinbase, PayPal, Samsung, Square and others. The VeChain Foundation said
Blockchain is transforming the supply chain and traceability industries and eliminating inefficiencies. Thanks, Archana Sristy, for listing #VeChain in the 2021 Forbes Blockchain 50! We are proud to power Walmart China’s Food Traceability Platform.
VeChain’s (VET) recent price action manipulated?
Trader Justin Bennet was bullish on VeChain’s original token VET. However, he believes the 24-hour rally could have been caused by a “large Discord group”. Bennet classified the token’s rally as inorganic, saying yesterday’s price action was rigged. He added
Claiming there was a coordinated VET pump on Friday doesn’t take anything away from the fundamentals behind VeChain. Does VET deserve to be where it is? Hell yes. I’ve said several times that I think it’s going to be $ 1 to $ 3 this year.
The Discord group mentioned by Bennet has about 200,000 members and their alleged relocation comes along with a high volume of trade for vocational education and training on the South Korea stock exchanges.
On the other hand, trader VeChain Justin said VET is ready for a “parabolic move”. According to the chart he shared, VET has formed a “hugely bullish Cup & Handle Pattern”. In addition to an increase in trading volume, this could send VET up 377%. He added
This is very similar to the 4,618 Fib extension. Expect consolidation in the handle before launch. $ VET Target: $ 0.5008.