VeChain (VET) has had a challenging period, dropping 26% in two weeks, dropping its value to $0.037. The digital currency has since recovered somewhat and is now hovering around $0.042.
Despite the disappointing price movement, there are many interesting developments on the platform. More than 3 million new users have been added to the network in the past month, an important step towards global acceptance.
April also saw increased activity on VeChain, especially in the areas of real-world assets (RWA) and sustainability initiatives. For example, the network works on projects that improve safety standards in the global food market. In addition, VeChain’s Asset Tokenization Network (Maas) is now also part of MotoGP.
UFC collaboration
One of the most notable developments for VeChain is its five-year partnership with the Ultimate Fighting Championship (UFC). This contract has a value of $100 million and is intended to put VeChain on the map worldwide.
The UFC is the global leader in mixed martial arts, offering VeChain access to an estimated 900 million households in approximately 175 countries. The partnership provides significant brand visibility during live events, with the VeChain logo prominently displayed on both the floor of the famed Octagon and on digital screens surrounding the event.
Will the VeChain price rise?
Crypto analyst Ali Martinez predicts that VET could soon experience an impressive rise. According to his analysis, the digital coin could rise to $0.60 in the next bull run, representing a growth of more than 1,300%.
Ali’s prediction is based on VeChain’s previous price patterns, similar to those of 2020, when the coin rebounded sharply after a sharp decline. In addition, the recent Bitcoin (BTC) halving may provide an additional boost, as this event has often led to price increases of altcoins in the past.
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Tags: VeChain continues develop rapidly ready huge price increase
