Main navigation

VeChain (VET) up 14% Following These Two Key Triggers: Details

Advertisement
Mon, 20/02/2023 - 10:23
VeChain (VET) up 14% Following These Two Key Triggers: Details
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

VeChain (VET) is on a bullish rampage today after its price topped $0.03049 amid a 14.36% growth. For a token whose price action is hardly in the limelight, it has grown by more than 32.85% over the past week.

Advertisement

As an enterprise-grade Layer-1 smart contract platform, VeChain has been making significant inroads in terms of its adoption across a wide range of industries. Despite its versatility and diversity in application, VeChain has been particularly well drawn in the fight against climate change.

In one of the latest updates, the protocol has recanted the unique capabilities of VeCarbon, its zero-threshold carbon management software-as-a-service (SaaS) protocol. Per the update shared by Twitter user @eisenreich, a VeChain Foundation educator, hundreds of companies have utilized the VeCarbon protocol to effectively manage their own carbon emissions.

With every blockchain protocol unique in its own way, VeChain has a visibly different model from the regular focus on decentralized finance (DeFi) and non-fungible tokens (NFTs). For its enterprise-grade solutions, however, the protocol is gaining immense traction through high-profile partnerships and integrations of its core solutions.

Related

Building on months of protocol upgrades

As an enterprise-grade blockchain protocol, VeChain has to meet the demands of millions of users at a time. The smart contract platform has been building its protocol through scheduled upgrades over the past few months. The network's biggest mainnet hard fork went live toward the end of last year, sending prices up in the wake of the FTX implosion.

Besides its growing enterprise adoption, the second key trigger for VeChain is its protocol's durability, a feature that is necessary to help power up its broad-based utility.

VeChain has pushed the boundaries of what is possible in terms of the utility aspect of blockchain protocols. With its current on-ramp partnership with Simplex, more traditional industry players can access and enjoy the protocol's speed, and low transaction costs among other features.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD