VeChain Prepares for MWC2024: Could a Major Reveal Impact VET Price?

• VeChain’s impending announcement on February 28 has ignited anticipation in the crypto community, driving up VET prices.
• Alongside its surge in price, VeChain (VET) gains further recognition by joining the AI & Blockchain Convergences Task Force.

VeChain, the blockchain platform with a mission for positive impact, is set to reveal major updates on February 28, sparking anticipation across the crypto community. This announcement will propel VET prices to new levels, building on its recent upward trend.

At the ongoing Mobile World Congress 2024 in Barcelona, CEO Sunny Lu will take the stage to unveil the groundbreaking news. Speculation is rife within the community about potential changes to tokenomics and the likelihood of airdrops. The buzz surrounding these speculations has already driven up VET prices, attracting keen attention from traders closely monitoring the market.

Prominent traders express confidence, with one highlighting the promising VET chart and hinting at the potential for reaching an all-time high (ATH) if the bullish momentum persists. This positive sentiment mirrors the overall excitement surrounding VeChain’s imminent announcement.

At press time, VeChain (VET) is trading at $0.04832 with a market cap of $3.5 billion. In the last 15 days, the Vechain price has surged by 15% and a staggering 73% over the last month. Likewise, its counterpart VeThor (VTHO) is currently priced at $0.005, marking an 86% increase over the past 14 days and a 120% surge over the last 30 days.

Amid these developments, another trader shares their personal journey, emphasizing VET as their primary focus during this bull run. Despite past market cycles and portfolio diversification, they remain unwavering in their belief in VeChain, with 99% of their holdings allocated to $VET.

Key Developments in the VeChain Ecosystem

VeChain (VET) continues to gain notable recognition as it joins a select group of prominent organizations listed in the AI & Blockchain Convergences Task Force. This initiative, spearheaded by the International Association for Trusted Blockchain Applications (INATBA), aims to address the complexities of integrating AI and blockchain technologies while exploring their vast potential.

As per the announcement, VeChain will be part of a consortium comprising over 10 esteemed organizations and institutions participating in the program, which is scheduled to run for 11 months from February to December 2024.

Payments serve as the foundation of worldwide trade, and as forecasted by Geneva-based financial services firm Aperture, this sector is poised to reach a value of $20 trillion by 2026, with an annual growth rate of 24%. Historically, legacy financial institutions have held sway in this arena. However, VeChain is now aiming to disrupt the status quo and establish itself in payment processing by recently filing a trademark application to integrate cryptocurrencies into its operations.

VeChain has long been a trailblazer in driving blockchain advancements across various domains, including initiatives related to carbon neutrality and healthcare services.