VeChain has been quite busy lately, with various events and partnerships taking place. As a result, its native token, VET, has experienced a significant surge of 11% in the past 24 hours, reaching a trading price of $0.038297.
Taking advantage of the current market rally, VeChain (VET) has made a strong presence in the broader market, experiencing a remarkable surge of 11% in just 24 hours. This surge has extended its weekly run to 33%, with a trading price of $0.038297.
Analysts attribute the upward trend of VET to the ripple effects of the ongoing Bitcoin price action. However, the rate of growth is also believed to be influenced by the upcoming Mobile World Congress (MWC2024), scheduled to take place from February 26 to February 29. VeChain has announced that its CEO, Sunny Lu, will be speaking at the event, alongside Nobel Laureate Sir Konstantin. While the topic of the speech is unknown, crypto commentator Marcel Knobloch, also known as Collin Brown, expects it to be related to supply chain, tracking, or something unexpected.
The participation of VeChain in this conference, alongside Jim Dukhovny, the founder of @AlefAeronautic, known for their development of flying cars priced at $300,000 per vehicle, has generated great excitement. Community members are eager to see if the announcements will focus on supply chain, tracking, or other related topics.
The Mobile World Congress is a significant event in the VeChain community due to the presence of well-known brands and the expected attendance of 90,000 people. This event attracts prominent figures, decision-makers, and innovators from various areas of telecommunications.
Some community members anticipate the possibility of a partnership being formed in the near future with one of the potential brands present at the conference.
VeChain’s price action has also been influenced by the recent news of the renewal of its partnership with Renji Hospital, one of the largest hospitals in China, and independent assurance and risk management provider DNV GL. VeChain has been involved in their collaboration since 2020, when they launched the world’s first blockchain-powered Intelligent Tumor Treatment Center. The goal of this partnership is to create a transparent, efficient, and traceable medical management solution, empowering patients to have control over their medical records.
Furthermore, VeChain has been featured in an article titled “MWC: Driving Collective Action on Sustainability With the Power of Web3,” which highlights its role in achieving the 17 Sustainable Development Goals (SDGs) set by the UN in 2015. The article emphasizes the importance of blockchain technology in promoting sustainability and states that 90% of Fortune 100 companies are exploring blockchain solutions. By leveraging blockchain technology, enterprises can play a crucial role in addressing sustainability challenges and driving meaningful change in the global economy.
It is worth noting that VeChain’s use cases have been recognized for their contribution to sustainability, making it a potential candidate for integration by more companies. This recognition has also had a positive impact on its price.
In conclusion, VeChain has been making significant strides in various areas, leading to a surge in its token price. With its involvement in partnerships, participation in conferences, and recognition for its sustainability efforts, VeChain continues to strengthen its position in the market.