Is VET Undervalued? VeChain Expands Vision with Sustainability Rewards via VeBetterDAO

• An analyst has stated that VeChain (VET) is a sleeping giant as its several cutting-edge solutions and jaw-dropping partnerships have not yet been reflected in its price.
• Meanwhile, another analyst believes that VET could hit $1 in a move that could see the asset rising by more than 4000%.

VeChain (VET) breached a major resistance level in the past day with a 37% whopping surge on the price chart to extend its year-to-date gain to 90%. At press time, the asset was trading at $0.069, which is significantly below its all-time high of $0.27, as recorded on April 27, 2021.

Meanwhile, an analyst believes that VET is a sleeping giant after subjecting the project to a critical analysis.

Analyzing the Thesis

According to analyst UNO 1, VeChain has experienced impressive growth overall. Its original use case, which was centered around supply chain management and business processes, has significantly expanded to using VeBetterDAO to reward sustainable actions.

It is important to note that the VeBetterDAO ecosystem was developed in collaboration with the Boston Consulting Group (BCG) to use Decentralized Applications (DApps) to reward users with B3TR tokens. According to the analyst, individuals, Non-Governmental Organizations (NGOs), and enterprises have leveraged this platform to tokenize their sustainable actions. Above all, the community has been the center of this initiative as they hold 100% of the power.

Adding to this, UNO 1 highlighted some of the jaw-dropping partnerships, including the collaboration with UFC to integrate sustainable applications into its ecosystem. With this, he mentioned some of the strategic partnerships sealed by VeChain in recent times including Kuehne + Nagel, BMW, Walmart, Haier, and Shanghai Gas.

He further highlighted VeChain’s dominance in the Real World Asset (RWA) ecosystem and how its unmatched reputation has not yet been priced into VET.

Designed for supply chain management, utilizing a unique dual-token system and a Proof-of-Authority consensus mechanism to enable fast, secure tracking of physical goods throughout their lifecycle, making it ideal for businesses looking to verify authenticity and monitor product movement within complex supply chains, unlike many other general-purpose blockchains.

Bringing his post to an end, UNO 1 lauded the VeChain Foundation’s effort to empower individuals. However, he believes that “time would be the best judge” of the real value of the VET token.

5/5 Is $VET a Sleeping Giant?
Only time will tell but I believe that VET is a sleeping giant. The Vechain foundation’s pivot into empowering individuals to start or partake in sustainable actions is commendable! How many blockchains do this? For additional information:…— UNO 1 (@UNO__1_) December 2, 2024

Analysts Remain Bullish on VeChain (VET)

In a previous post, CNF highlighted the impressive optimism shown for the asset despite its inconsistent price performance. When VET was trading below $0.022, an analyst identified as EGRAG CRYPTO predicted that the asset could hit $1 in the near term. As we reported, this analyst disclosed that VET could target the Fib 1.236, 1.414, and 1.618 in its 4,324% surge.

Similarly, analyst Alan Santana pointed out a great possibility of the asset imitating the 2019 cycle. According to him, the bearish phase in the previous cycle lasted for 595 days. After this, VET embarked on 1,291%. Alluding this to the present cycle, he pointed out that the bearish phase bottomed on September 16, 2024. However, it lasted for 1,246 days. Per his observation, this cycle would be one of the biggest ever seen.

It will be something for the record books because the market has never been this big before. The market has never been this big and this is the first time that Cryptocurrency is open and available to the whole world.