VeChain, a well-known token in the cryptocurrency market, has shown impressive growth in previous bull cycles. Despite being considered an “old coin,” one analyst predicts that VeChain is poised to make a significant impact in the current bull market, potentially surging by over 5,000%.
VeChain has gone through two cycles, starting as an ERC-20 token known as VEN and later transforming into a standalone project called VET. During these cycles, VeChain experienced remarkable gains, with the token’s value increasing by 17,000% and 18,800% in the past.
However, in recent times, VeChain has lost some of its popularity to other tokens like Solana and Avalanche, which have attracted significant investor funding. Nevertheless, the analyst believes that VeChain, or VET, should not be overlooked in the current bull cycle and predicts that it could reach a price of $1, marking a surge of 5,400% from its current value. This increase would push VeChain’s market cap to $72 billion, trailing only Bitcoin, Ether, and Tether.
Currently trading at $0.03453, VeChain has seen a slight decline of 4% in the past day. However, over the past month, it has gained 60%, and since the beginning of the year, it has soared by 122%. Despite having a market cap exceeding $2.5 billion, VeChain has struggled to attract significant investor interest, with its trading volume at $49 million. It ranks below smaller projects like Terra Classic, NEO, Axie Infinity, and MultiverseX.
Although VeChain has fallen out of favor with investors, the analyst, known as Raidenx, believes that it has the potential to make a comeback in the upcoming bull cycle. Raidenx dismisses the notion that VeChain is an “old coin” and urges investors to ignore influencers who downplay its value. The analyst suggests that VeChain’s previous impressive performance and its recent partnerships, such as the one with BCG for blockchain-based environmental conservation, make it a project to watch.
In conclusion, the analyst predicts that VeChain will experience another remarkable rally, outperforming many new coins just like it did before. With the potential for a parabolic run in the entire crypto market due to BTC ETF and ETH ETF, VeChain could surprise many skeptics. The analyst advises investors to load up on VeChain and spread the word about its potential.