As many are likely aware of, the previous twelve months were not particularly friendly to cryptocurrencies, and there were two major market crashes since January 2018. However, it could be that investors’ wishes are finally coming true, as the market is currently seeing actual gains. While there is still no certainty regarding this behavior, investors around the world are finding the current development to be quite refreshing.
One interesting development that was noticed these days is the increase of VeChain’s price, which is seeing minor gains at this time.
VeChain (VET) price grows
While most cryptocurrencies experienced some extreme ups and downs during their lifetime, VeChain is usually surprisingly unaffected by the market’s behavior. In fact, its price chart typically shows no major changes, and it seems pretty flat in comparison to other cryptocurrencies.
While this may be a good thing, as the lack of volatility means that the coin is more stable than most, the fact that the price is usually not affected makes the current gains that much more peculiar.
In the last 24 hours, VeChain’s price has grown by 2.16%, placing its value at $0.00401120 at the time of writing. The growth is minor, and the coin’s value only increased by a fraction of a cent, but this is still not typical behavior for this cryptocurrency, which attracted the attention of analysts and investors alike.
Many have started mentioning VET on social media, which shows how unexpected it was to see VeChain change its behavior.
Sunday Scoreboard:#LTC and #BNB lighting up the Top 10. #ADA #Neo #waves & #VET showing nice gains to round out Top 25. #BTT is showing rookie of the year so far and is up today when logic says it should be other wise due to airdrop on 11th (or possibly before). Onwards.
— “RB3” – The Blockchain Bull! (@RobertBagley) February 10, 2019
In time, VeChain could grow even more, unless the current positive momentum is somehow disrupted.
Meanwhile, some in the crypto community also noticed an unusual trading behavior involving VeChain, as one Binance user put up a 25 million VET sell wall right next to a 63 million buy wall.
Putting your 25m sell wall into a 63m buy seems legit lmao
Largest volume sell wall at lowest possible level
Boy when this 63m guy hits his vet bag target this will melt faces pic.twitter.com/JuneIxijEO
— Bull Of Bitcoin (@Bull0fBitcoin) February 10, 2019
The sentiment regarding cryptocurrencies, and VeChain, in particular, seems to be changing again, and some even claim that VET is among the most undervalued coins on the market. While there are likely numerous other projects that could use more attention, as many are located below VeChain (currently holding the 25th spot), it appears that today’s market is quite appreciative of this particular project.
Besides, the fact that VeChain is moving from its slumber is proof enough for a lot of people that the market is ready for a real, positive shift, and that the crypto industry still has potential. It is still too early to say whether that potential will turn into large gains or not, but so far, the market has been doing relatively well.
While it is hard to tell where the market might go from here, the positive change has encouraged the community, and every bit of growth helps after a year-long crypto winter.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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