One thing that has remained a constant over the past few years in the crypto space is the sort of seemingly unexplained volatility that is experienced by certain tokens like Vechain (VET). Vechain is a blockchain-powered platform and is primarily meant for helping users with supply chain management solutions.
VET recently enjoyed a massive rally, despite the fact that the larger crypto market has been largely subdued. One of the most important things to point out about this particular project is the fact that it does have a use case.
Why the Sudden Buying Interest?
That being said, there are plenty of altcoins in the crypto sphere that claim to have use cases. Unless the project in question can rope in clients, then there is not much to talk about. However, Vechain has experienced a remarkable rise in the past few weeks.
VET has gone up by as much as 100% during this period, and it is an understatement to say that crypto traders are now taking notice. However, experts who study the altcoin’s charts have stated that after this sort of rally, VET might be heading for a cooling period.
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The altcoin market at large has been showing bullish tendencies to some degree, and hence, the rise of VET is probably not an entirely surprising matter. Analysts who have been watching Vechain’s charts have two estimates of the future with regards to the altcoin. One school of thought believes that there is going to be a slight bearish turn in the coin before it goes on another move.
The other belief is that Vechain might continue to rise over the coming days. It goes without saying that either of those scenarios will be acceptable to traders.
Which argument do you side with?
Featured image: DepositPhotos © nazarenko
