VeChain, a prominent blockchain project, has seen impressive growth and achievements in April. This includes a partnership with the UFC and the rapid expansion of the VeBetterDAO initiative. These developments have contributed to a positive outlook for VeChain’s future.
Throughout the first four months of 2024, VeChain has demonstrated its commitment to long-term goals through the development of innovative technology, strategic partnerships, and increased adoption in various industries. Notably, the project has gained over 3 million wallet holders, reaching a new milestone in user adoption.
One of the standout accomplishments for VeChain this year is its partnership with the UFC. This collaboration involves integrating NFC blockchain technology into fighter gloves. These high-tech gloves were unveiled at UFC 300 on April 13, allowing for the authentication and logging of fight data directly onto the blockchain. As collectibles, these gloves will be auctioned, providing fans with an exclusive engagement opportunity.
Another notable achievement is the launch of VeBetterDAO, an initiative focused on promoting sustainability. Through its utility token B3TR, VeBetterDAO incentivizes sustainable actions and aims to reach a million active daily users in the coming years. By 2030, VeChain’s goal is to onboard approximately one billion users.
VeChain has also introduced VORJ, a revolutionary tool that enables users to deploy decentralized apps, create tokens, launch NFTs, and establish DAOs without coding. Additionally, the project has participated in global meetups, such as the Paris Blockchain Week, where VeChain’s founder, Sunny Lu, delivered a presentation on VeBetterDAO and its contribution to global sustainability.
Most recently, VeChain launched MaaS, a Digital Asset Tokenization platform that has already been embraced by MotoGP champions Gresini Racing.
In terms of price outlook, VeChain has shown bullish signals, indicating the potential for a short-term breakout. Analysts have pointed out the similarities between its current trading pattern and previous cycles, particularly the 2020 price trend that resulted in a breakout and record highs for the altcoin. While VET is currently trading at $0.04188 with a marginal change in the last 24 hours, it has experienced a 3% increase on the weekly chart, instilling confidence in long-term investors.
Furthermore, the macro chart of VET demonstrates the formation of bullish patterns that could potentially lead to a 600% price growth in the midterm. However, the short-term price trend remains uncertain, as it is unclear whether bulls or bears are in control.
Overall, VeChain’s impressive growth, strategic partnerships, and commitment to sustainability have positioned it for a promising future in the blockchain industry.
