VeChain

2024

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The native token of the decentralized platform VeChain (<a href="https://crypto.news/price/VeChain/">VET</a>) continues to show explosive growth. 
According to data from <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>, VET has increased by 11% over the past 24 hours, reaching $0.04843 when writing. 
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Throughout the month, the VET rate shows positive dynamics. Over the past week alone, the token has risen in price by 65% and 61% in a month. At the same time, the current value is still 82% lower than the absolute maximum reached by the asset in April 2021. 
VeChain’s capitalization, meanwhile, reached $3.5 billion. Trading volume over the past 24 hours increased by 332%, reaching $967 million. Most of the activity occurred on the largest crypto exchange, <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a>. 
<a href="https://crypto.news/learn/what-is-vechain-and-how-it-works/" target="_blank" rel="noreferrer noopener">VeChain</a> is an open-source decentralized finance (<a href="https://crypto.news/tag/defi/" target="_blank" rel="noreferrer noopener">defi</a>) platform launched in 2018 using the Proof-Of-Authority (POA) consensus algorithm. The network operates in the Blockchain-as-a-Service (<a href="https://crypto.news/tag/BaaS/">baas</a>) format – blockchain as a service. 
On Feb. 14, VeChain announced the introduction of account abstraction, a technology that allows you to customize interactions with the Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) blockchain according to your needs. In addition to improved interoperability, the abstraction will open access to programmable smart contract&nbsp;wallets. 
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 Account Abstraction (AA) is now live, opening up a whole new world for <a href="https://twitter.com/hashtag/VeChain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#VeChain</a>. Not only does AA make interoperability seamless, but it also unlocks programmable smart contract wallets for a better user experience and improved security. Here’s what it means for <a href="https://twitter.com/search?q=%24VET&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$VET</a> 🧵👇🏼 <a href="https://t.co/SecJ6OwnGu" target="_blank">pic.twitter.com/SecJ6OwnGu</a>— vechain (@vechainofficial) <a href="https://twitter.com/vechainofficial/status/1757766850501353740?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 14, 2024</a>
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VET surges by 65% in week amid new feature launch

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