VeChain has experienced a significant surge of nearly 23% in the past two weeks, with its price rally aligning with a second trending spree for VET during that time.
This month, VeChain launched its MaaS platform, forming partnerships with Gresini Racing, the Italian MotoGP champions, and VeBetterDAO, a sustainability dApp that distributed new tokens through an airdrop.
After losing momentum earlier in the month, VeChain has regained it in the past two weeks, experiencing a resurgence with a 10% gain in the past seven days and over 20% gain in the past two weeks.
Currently, VET is trading at $0.0457. In the past day, it has traded sideways, reaching an intraday high of $0.0460. However, trading volume has dropped drastically by 33% to $59.57 million.
Although VET’s momentum has stagnated since the weekend began, it has been on a roll in the past two weeks. Starting the month with a massive rally, it reached a two-year high above $0.051. However, the momentum dwindled mid-month, reaching a low point of $0.03718 on March 19.
Since hitting the bottom, VET has been surging, reaching a two-week high of $0.04729 five days later, which marks a 27% rise. Although this momentum has slightly dipped, VET remains one of the best-performing large-cap tokens during this period.
VeChain has made significant moves by launching new products that have contributed to its market moves in this bull market. Unlike most cryptocurrencies, VET’s price rally is based on solid VeChain ecosystem developments.
One of these developments is VeBetterDAO, a sustainability platform unveiled during the Mobile World Congress in Barcelona. Developed in partnership with the Boston Consulting Group, the platform incentivizes users to engage in specific sustainability activities, aligning with VeChain’s other X-2-Earn efforts.
Shortly after the launch, VeChain introduced two new tokens for the VeBetterDAO ecosystem. The first token, B3TR, serves as a general incentive for users who participate in sustainability actions. VeChain is airdropping a 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 the first enterprise user. This collaboration enables the Italian MotoGP champion team to launch NFTs and other digital tokens on the platform, catering to its millions of fans. This partnership not only appeals to MotoGP fans but also showcases how any company can utilize blockchain to engage with its target audience in innovative ways.
Overall, VeChain’s recent developments and partnerships have played a significant role in its price rally, demonstrating its commitment to utility and innovation within the VeChain ecosystem.