VeChain, the blockchain platform that aims to create a sustainable world, has unveiled a new software development kit (SDK) to simplify the process of creating decentralized applications (dApps). The SDK is designed to encourage developers to build on the VeChain network, bringing real-world solutions and attracting new users.
Developers play a crucial role in introducing innovative solutions to address real-world challenges, which in turn drives the adoption and utility of the network. The increasing popularity of VeChain also fuels the demand for its native token, VET.
The new SDK provides software developers with a powerful tool to build on VeChain, whether they are enterprise clients or Web3 natives. The development journey is made seamless with the help of this SDK.
This launch comes shortly after the introduction of VeBetterDAO, an ambitious Decentralized Autonomous Organization (DAO) aimed at promoting community engagement and driving sustainability initiatives. Two main tokens, VOT3 and B3TR, were introduced for effective implementation. VOT3 serves as a governance token, enabling holders to vote on proposals and earn rewards by staking, while B3TR powers the entire DAO, incentivizing participation and supporting eco-friendly projects.
These recent developments have had a positive impact on the performance of VeChain’s VET. Over the past 30 days, VET has gained more than 30%, and on-chain data, network growth, and investor interest all suggest a bullish outlook.
EGRAG, a crypto analyst, is optimistic about VET’s future, predicting a three-phase breakout. Currently at a critical level, the token is facing a battle between bulls and bears. If the bulls prevail, they aim to surpass $0.053 and target $0.09. A parabolic breakout could even push VET to $0.23, representing a 390% increase. In the long term, experts believe VET could surpass $1, although profit-taking at its previous high of $0.281 may present a challenge.
The positive outlook is further supported by increasing investor exposure. Coinbase’s expansion into Germany, which includes the addition of VeChain (VET) and other digital assets to its platform, reflects the growing anticipation within the VeChain community.
Aside from forming key partnerships and addressing sustainability issues, VeChain is also expected to have a significant impact on the financial industry. The project has filed a new trademark that positions it to tap into the global payments market, leading analysts to forecast a possible 600% growth.
At the time of writing, VET is trading at $0.0447, having gained nearly 4% in the past 24 hours. This has helped investors recover some of their losses from the previous week, which saw an 8% drop.
Investors remain optimistic about VET’s future and believe it can maintain its bullish momentum, potentially retesting its yearly high of $0.055 achieved during the recent breakout.