VeChain has experienced a significant surge of nearly 23% in the last two weeks, marking a renewed price rally for VET during this period. The platform recently launched its marketplace-as-a-service (MaaS) platform, partnering with Gresini Racing, the Italian MotoGP champions, and VeBetterDAO, a sustainability decentralized application (dApp) that distributed new tokens through an airdrop.
After experiencing a loss of momentum earlier in the month, VeChain has once again gained traction. Over the past two weeks, it has seen a resurgence, with a 10% increase in the last seven days and a substantial growth of over 20% in the past two weeks.
As of press time, VET is trading at $0.0457. In the past day, it has remained relatively stable, with a high of $0.0460, while experiencing a significant decline in trading volume by 33% to $59.57 million.
Although its momentum has stagnated since the start of the weekend, VeChain has been performing exceptionally well in the last two weeks. It began the month with a remarkable rally, reaching a two-year high above $0.051. However, its momentum waned in the middle of the month, hitting a low point on March 19th at $0.03718.
Since reaching its lowest point, VET has experienced a remarkable surge, reaching a two-week high of $0.04729 just five days later, representing a 27% increase. Although its momentum has slightly decreased, VET remains one of the top-performing large-cap tokens during this period.
What sets VeChain apart from other cryptocurrencies in this bullish market is its reliance on solid ecosystem developments. The recent price rally can be attributed to the launch of two exciting new developments that aim to enhance utility within the VeChain ecosystem.
The first is the VeBetterDAO sustainability platform, which was unveiled during the Mobile World Congress in Barcelona. Developed in collaboration with the Boston Consulting Group, this platform incentivizes and engages users in specific sustainability activities, aligning with VeChain’s other X-2-Earn initiatives.
Following the platform’s launch, VeChain introduced two new tokens for the VeBetterDAO ecosystem. The first is B3TR, a general incentive token that users receive for participating in sustainability actions. VeChain is distributing one million B3TR tokens through various campaigns, including those on X, Discord, Telegram, and other social media platforms.
VeChain has also launched its marketplace-as-a-service platform, partnering with Gresini Racing as its first enterprise user. This collaboration allows the Italian MotoGP champion team to launch NFTs and other digital tokens on the platform, catering to its millions of fans. Apart from appealing to a vast MotoGP audience, this partnership showcases the versatility of blockchain technology for any company looking to engage with its target audience in innovative ways.
In conclusion, VeChain’s recent price rally and market moves are driven by significant ecosystem developments. The launch of the VeBetterDAO sustainability platform and the marketplace-as-a-service platform demonstrate VeChain’s commitment to enhancing utility and providing value to its users and partners.