VeChain, an established token in the cryptocurrency market, is expected to experience significant growth in the current bull market, despite being considered an “old coin.” According to an analyst, VeChain has the potential to surge by over 5,000% and surpass its previous impressive gains.
VeChain has gone through two cycles in the past. Initially, it operated as an ERC-20 token called VEN, deployed on the Ethereum network. During this phase, it achieved a remarkable 18,800% gain, reaching new highs in 2018. The project then migrated to its own blockchain and rebranded as VET. Despite skeptics dismissing VET as an outdated coin, it proved them wrong by delivering gains of over 17,000% in the market.
While VeChain has a market cap of over $2.5 billion, it has struggled to attract investor interest, with a trading volume of only $49 million. This places VeChain below smaller projects in terms of trading volume. However, the analyst believes that VeChain could be the project to watch in the upcoming bull cycle. The analyst, known as Raidenx, predicts that VeChain will reach $1, which would represent a surge of 5,400% from its current price. This surge would push its market cap to $72 billion, a level only surpassed by Bitcoin, Ether, and Tether.
The analyst urges investors to ignore influencers who dismiss VeChain as an “old coin.” He hints at exciting developments that will propel VeChain’s growth and emphasizes that this is its third cycle, making it a special investment opportunity.
VeChain is currently trading at $0.03453, with a 4% decrease in the past day. However, it has gained 60% in the past month and has seen a 122% increase since the beginning of the year.
VeChain’s impressive gains in the past are attributed to its partnerships and initiatives focused on blockchain-based environmental conservation. Through its collaboration with BCG, VeChain has become a key player in incentivizing conservation efforts and rewarding users for their contributions to saving the planet.
The analyst concludes that, considering the potential for a parabolic run in the entire crypto market due to the introduction of BTC ETF and ETH ETF, VeChain is poised for another remarkable rally. This rally is expected to outperform many new coins, just as it did in previous cycles. The analyst advises investors to load up on VeChain and spread the word about its potential.