- VET’s price climbed by 5.65% after VeChain showed signs of a major announcement on X.
- VET could test the $0.060 psychological resistance if bulls hold the support at $0.047.
- Decreasing money flow might trigger a retracement to $0.040.
On February 27, Layer 1 smart contract blockchain VeChain (VET) posted that it could soon disclose an update that would improve blockchain development in the ecosystem. Although VeChain did not share details, the post indicated that VeChain could be working on improving its adoption through the VeChainThor model.
VeChainThor's approach prioritizes meticulous blockchain development, laying the foundation for the business ecosystems of tomorrow. Learn more about its capabilities: https://t.co/C2npJxT4RW— vechain (@vechainofficial) February 27, 2024
For the unfamiliar, VeChainThor could enhance security and scalability for the project. Following the post, VET’S price increased. One hour before this writing, VET’s price was $0.049. But an hour later, the value of the token pumped 5.65% to $0.052 at press time.
VET Reacts Well
This climb implied that the token was reacting positively to the development. According to…
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