VeChain has had a bustling week, with events like the upcoming MWC2024 in Spain and the renewed partnership between Renji Hospital and DNV. As a result, VeChain’s native token, VET, has experienced an impressive 11% surge in the past 24 hours, reaching a trading value of $0.038297.
VET has taken advantage of the ongoing market rally and has made a significant impact on the broader market with its 11% surge in just 24 hours. This surge adds to a weekly run of 33%, bringing the token’s trading value to $0.038297.
Analysts attribute VET’s upward trend to the ripple effects of Bitcoin’s 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, accompanied by Nobel Laureate Sir Konstantin. While the topic of Lu’s speech remains unknown, crypto commentator Marcel Knobloch, also known as Collin Brown, anticipates discussions on supply chain, tracking, or other unexpected subjects.
The involvement of VeChain in a massive conference alongside Jim Dukhovny, founder of @AlefAeronautic, who is known for developing flying cars priced at $300,000 per vehicle, has further elevated the anticipation surrounding VeChain’s announcements at the event. Community members are excited to see if these announcements will focus on supply chain, tracking, or other relevant topics.
The Mobile World Congress has become a significant event for the VeChain community due to the presence of prominent brands and an expected attendance of 90,000 people. The event typically attracts influential figures, decision-makers, and innovators from various areas of telecommunication.
VeChain’s price action has also been influenced by the recent renewal of its partnership with Renji Hospital, one of the largest hospitals in China, and independent assurance and risk management provider DNV GL. The collaboration between VeChain, Renji Hospital, and DNV GL began in 2020 with the launch of the world’s first blockchain-powered Intelligent Tumor Treatment Center. The renewed partnership aims to provide a transparent, efficient, and traceable medical management solution, empowering patients to take control of their medical records.
VeChain has also 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) established by the UN in 2015. The article emphasizes blockchain’s ability to facilitate seamless, trustless, and transparent information sharing, with 90% of Fortune 100 companies exploring blockchain solutions. The author suggests that blockchain technology could be the missing piece in addressing the sustainability challenge and driving meaningful change in the global economy.
VeChain’s use cases, directly and indirectly related to sustainability, position it as a potential integration option for more companies. This, in turn, has a positive impact on its price.
Please note that VeChain’s use cases have been associated with sustainability and can potentially be integrated by more companies, leading to a positive price reaction.