VeChain

VeChain (VET) has garnered significant attention from cryptocurrency investors in the last 30 days, as its price has experienced substantial growth. The native token of the VeChain blockchain, VET, soared over 20% in the last 24 hours, reaching an intraday high of $0.0514 in today’s trading session on February 16, 2024. Why VeChain (VET) Price is increasing? 
In addition to this remarkable 24-hour price surge, it has been observed that investors and traders are increasingly betting on VeChain, as its 24-hour volume also surged by 415%, currently standing near $1 billion. 
This significant price and volume surge in VET can be attributed to the ongoing development and overall positive sentiment across the cryptocurrency market. Notably, in this ongoing bullish sentiment, Bitcoin also reached its $52,000 level for the first time in 776 days. 
Moreover, on February 14, 2024, a prominent trader and analyst posted on X (formerly Twitter), stating, “It feels like it will be a big week for VeChain! If history repeats itself, VET could be looking at a move to $0.054 this week, a brief correction until June, and then a bull run to $0.70 by November!” 
The primary reason behind this impressive performance is a recent milestone achieved by VeChain, which involves the implementation of Account Abstraction (AA) on its network. This development enhances interoperability and introduces programmable smart contract wallets, thereby improving user experience and security.&nbsp; 
Unlike traditional externally owned accounts (EOAs), account abstraction offers a more flexible and automated approach, departing from manual operations and key pair management. This innovation marks a positive step for VeChain, opening up new possibilities for its blockchain ecosystem. VeChain technical analysis and price performance 
Examining<a href="https://news.todayq.com/vechain-breaks-a-bearish-streak-soars-10/"> VeChain’s performance</a> over a more extended period, in the last 7 days, VET has experienced over 67% upside momentum. Furthermore, in the last 30 days, it has seen over 64% upside momentum. 
According to expert technical analysis, VeChain (VET) on a daily time frame appears bullish, as it recently broke out of a strong resistance line near $0.043 and closed above it. If the overall sentiment remains bullish, we may witness VET hitting the $0.08 level in the coming days, representing an 85% increase from the current level. 
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