Lookonchain, in a 20 February tweet, revealed that the prices of Chinese coins were on the rise over the last few days. VeChain [VET] was one coin that experienced massive growth, with its price increasing by double digits.
<p lang=«en» dir=«ltr» xml:lang=«en»>Prices of Chinese coins on @milesdeutscher watchlist are rising.$KEY $CFX $ACH $NEO $FIL $FLM $QTUM $VET $QKC $HIGH $TVK $COCOS pic.twitter.com/KYAMrF928W— Lookonchain (@lookonchain) February 20, 2023
Realistic or not, here’s VET market cap in BTC’s terms
According to CoinMarketCap, VET’s price increased by over 38% in the last seven days, and at the time of writing, it was trading at $0.03162 with a market capitalization of over $2.29 billion.
Interestingly, VET’s momentum seemed to have increased as its price went up by over 6% in just the last 24 hours. A possible reason for this uptick could be the recent developments in its ecosystem. The latest such development was the launch of VeChain’s VeWorld, the network’s new official wallet.
<p lang=«en» dir=«ltr» xml:lang=«en»>We've got exciting news! #VeWorld – our new official wallet, is now available: https://t.co/Yy8thhbvLm!We're continually lowering barriers to entry for #blockchain & crafting an optimal real-world #Web3 environment.
Build the future on $VET! #VeChainhttps://t.co/zO3Mj6qSt8 pic.twitter.com/8VqCBAMX5z
— VeChain Foundation (@vechainofficial) February 20, 2023
VET ’s daily chart revealed that the bulls were dominating the market, which drove the token’s price upwards. The distance between the 20-day Exponential Moving Average (EMA) and the 55-day EMA was increasing, suggesting that the bulls were not taking the back seat. The MACD’s findings also complemented those of the EMA Ribbon, as it too
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