The post VeChain (VET) Marks 42% Weekly Surge as Trump Victory Boosts Crypto Markets appeared on BitcoinEthereumNews.com.

TLDR VeChain (VET) has seen a 42.6% weekly increase amid broader crypto market rally Trump’s election victory and pro-crypto stance potentially driving market momentum Current price remains 90% below all-time high of $0.281 from April 2021 CoinCodex predicts maximum price of $0.028247 this month Telegaon forecasts possible $0.15 price point in 2024 VeChain has emerged as a standout performer in the cryptocurrency market, posting a remarkable 42.6% increase over the past week. The digital asset has shown strength across multiple timeframes, with gains of 10.2% daily, 23.8% over two weeks, and 23.3% monthly performance. The latest price movement comes as Bitcoin reached a new all-time high of $89,560.95, creating a ripple effect throughout the cryptocurrency market. VeChain’s upward trajectory aligns with this broader market momentum, suggesting increased investor confidence in the altcoin sector. Recent trading data indicates that VeChain has maintained consistent growth since November 2023, recording a 26.6% increase over this period. This steady performance indicates sustained buyer interest beyond short-term price swings. The cryptocurrency’s recent surge coincides with Donald Trump’s victory in the US Presidential election, which has sparked renewed optimism in crypto markets. Trump’s well-documented support for the cryptocurrency sector has led to expectations of a more favorable regulatory environment. Market analysts point to Trump’s stated intention to appoint pro-cryptocurrency candidates to key financial agency positions as a potential catalyst for the current rally. This political development has contributed to increased trading volume and positive sentiment across the crypto market. VeChain Price on CoinGecko Despite the recent gains, VeChain’s current price remains substantially below its historical peak. The token reached an all-time high of $0.281 in April 2021, and current prices represent a more than 90% decrease from that level. Looking at short-term projections, CoinCodex analysts maintain conservative estimates for VeChain’s near-term performance. Their analysis suggests a…

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Filed under: News - @ November 12, 2024 11:24 am