VeChain price is trading at $0.02597 after a 4.08% daily gain and 10.39% weekly rise. It is gaining traction as supply-side constraints and institutional moves boost confidence. Its market cap has risen to $2.23 billion with trading volume spiking 201.67% to $152.3 million in mere 24 hours.
Wondering where the fuel came from? The rally stems from VeChain’s StarGate staking program, which has locked over 4.75 billion VET worth about $125M since July 1. And also distributing 5.48 billion VTHO as rewards. Additional credibility comes from VeChain’s custody partnership with BitGo and its integration into Franklin Templeton’s $780 million tokenized fund.
VET price broke above its July downtrend on August 10, entering a rising price channel supported at $0.02480. The breakout triggered algorithmic buying and short squeezes, amplified by $577k in spot inflows in early August. Currently, traders are eyeing $0.02696, which is the 50% Fibonacci retracement level.
On the 4-hour chart, Bollinger Bands show price pressing the upper band near $0.0269. This is while the RSI at 62 indicates bullish momentum but not yet extreme overbought conditions. That being said, a sustained close above $0.02696 could open the door to $0.028, while failure to hold above $0.02480 may trigger consolidation toward $0.02345.
The upcoming August 25 on-chain report on staking participation and VTHO burn will be critical. High participation and strong burn rates would reinforce scarcity conditions, supporting higher prices. However, profit-taking near $0.027 remains a short-term risk as traders lock in recent gains.
The StarGate staking program has locked billions of VET, cutting liquid supply and driving algorithmic buying pressure.
Immediate resistance sits at $0.02696, with a breakout target of $0.028. Strong support is at $0.02480.
Yes. Partnerships with BitGo for custody and Franklin Templeton’s tokenized fund have improved its credibility, particularly with ESG-focused investors.
Scammers are always looking for ways to trick investors, often by launching meme coins linked…
How many investors will regret skipping Pepeto before the next bull run? At only $0.000000149,…
The Cardano price is bleeding intraday, but its cofounder is making some noise for the…
The stablecoin market is rapidly gaining attention from industry leaders, regulators, and Wall Street giants.…
Ethzilla revealed a $250 million share repurchase plan to enhance shareholder value. The company currently…
Goldman Sachs, managing $3 trillion in assets, has recently added $194 million in Bitcoin to…
