VeChain Momentum: Delving into the Factors Driving VET’s Second Trending Spree This Month

• VeChain has gained close to 23% in the past two weeks amid a renewed price rally that aligns with a second trending spree for VET in that time.
• VeChain launched its MaaS platform this month, partnering with Italian MotoGP champions Gresini Racing and VeBetterDAO, a sustainability dApp that airdropped new tokens.

After losing its momentum earlier in the month, VeChain has regained it, and in the past two weeks, it has been going through a resurgence, gaining 10% in the past seven days and over 20% in the past fortnight.

VET trades at $0.0457 at press time; in the past day, it has traded sideways with an intraday high of $0.0460 amid a drastic drop in trading volume by 33% to $59.57 million.

While its momentum has stagnated since the weekend began, VET has been on a roll in the past two weeks. It started the month with a massive rally that set a two-year high north of $0.051. However, the momentum dwindled mid-month, bottoming out on March 19 when it dipped to $0.03718.

Since hitting the bottom, VET has been on a tear, surging to hit a two-week high at $0.04729 five days later, a 27% rise. This momentum has dipped slightly, but VET is still one of the best-performing large-cap tokens of that time.

VeChain Makes Major Moves, Launches New Products

Unlike most cryptocurrencies in this bull market, VET’s market moves are based on solid VeChain ecosystem developments. For instance, its rally in the past two weeks has come on the back of the launch of two new exciting developments, with each seeking to push utility.

The first was VeBetterDAO, a sustainability platform unveiled during the Mobile World Congress in Barcelona, as CNF reported. Developed in partnership with the Boston Consulting Group, the platform engages and incentivizes users for specific sustainability activities, aligning with VeChain’s other X-2-Earn efforts.

Shortly after its launch, VeChain announced two new tokens for the VeBetterDAO ecosystem, as CNF reported. The first, B3TR, is the general incentive token that users receive for engaging in sustainability actions; summing up, B3TR is a value carrier for participants.

VeChain is airdropping a million B3TR through various campaigns, including for users who engage with the project on X, Discord, Telegram and other social media platforms.

Other initiatives, including the VeBetterDAO hackathon, which partnered with Cambridge University, are also boosting user participation and giving the platform mainstream visibility.

In addition to VeBetterDAO, VeChain recently launched its marketplace-as-a-service platform, as CNF reported. It partnered out of the gate with Gresini Racing on the MaaS platform, onboarding it as the first enterprise user. The Italian MotoGP champion team is set to launch NFTs and other digital tokens on the platform for its millions of fans. Aside from the apparent benefit of appealing to millions of MotoGP fans, the partnership serves to show that blockchain is something that any company can use to interact with its target audience in new, exciting ways.

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