VeChain Sets All-Time High While ETH And BTC See Resistance

Vechain sets all-time high while other larger altcoins like BTC and ETH saw a choppy weekend and faced serious resistances so let’s read more in our latest vechain VET news today.

Bitcoin, Ethereum, and other larger-cap cryptocurrencies saw a mixed weekend with the price action remaining choppy over the weekend. However, some altcoins like Vechain put on some huge numbers. BTC remained near the resistance at the $59,800 mark over the weekend as it failed to break through the price level but then dropped under $55K before recovering in the evening hours a day ago.

Cosmetics brand YI ZHI JI looks to the future by incorporating blockchain in their products, allowing customers to configure a personalised page stored on #VeChainThor!

NFTs are also being considered by the brand to boost their application.https://t.co/RijGWdHlaV

— VeChain Foundation (@vechainofficial) March 17, 2021

As the charts show, BTC saw resistance at the $57K price level at press time and it trades below its 21-period exponential moving average which is a tool that traders use to determine the market trends but we can see it’s neither in overbought nor under bought territory. BTC saw favorable growth on the fundamental side so according to Deutsche Bank’s reports, last week we saw the asset and its ability to become a reputed global asset class but the bank added that liquidity and price volatility are still a major concern.

Ethereum saw a similar story as BTC regarding its technical and it failed to break the $1860 level while trading below its EMA-showing some downside action in the short-term. The new EIP-1559 proposal remains in positive territory and a bullish signal for the growth of the asset. Some entities have even started hoarding the asset with Meitu leading the way.

#Bitcoin’s market cap of $1 tn makes it too important to ignore. But will it evolve into an asset class, or will its illiquidity remain an obstacle? Find out more in the latest instalment of “The Future of Payments” from @MarionLaboure and #dbresearch: https://t.co/dx71OpCSKJ pic.twitter.com/YYoOcroPa0

— Deutsche Bank (@DeutscheBank) March 19, 2021

However, a rather forgotten altcoin from 2017, surged over the weekend. Vechain sets an all-time high of $0.09. VET focuses on using its blockchain to enhance supply chain systems and their management and it grew by 6% in the past day and 44% over the week. According to the data, VET has set a new all-time high of $0.09 and is valued at over $6.3 billion with a circulating supply of 64 billion. In the meantime, the new surge came on the back of continued adoption and integration of VeChain on real-world products.

As recently reported, The VET foundation pointed out that NFTs have been introduced in a few different industries as they represented art collectible but also made it into the gaming world. The developers revealed that the market cap of all of the NFTs reached about $210 million in 2019 but now it is expected to hit $315 million soon.