VeChain Price Is Down By More Than 20% In The Last 25 Days

If you are following our VeChain news, you probably know that VET is one of the hottest altcoins to watch out for. Despite it being on the 33rd position on the top cryptocurrencies list, it is definitely a coin worth investing it. However, this month’s update shows that the VeChain price is down by more than 20% over the course of the month, indicating a potential bearish momentum.

Recently, VeChain released its annual report where the company elaborated the details of all the partnership and future roadmaps. The report showed that the foundation mentioned about its partnership with San Marino Innovation and DNV GL. The report also focused on the VeChainThor Blockchain adoption in the republic – becoming the first carbon-neutral country.

However, the VeChain coin news show that the VeChain price did not benefit much from these positive news. The blockchain was the only one that got a real benefit – recording the highest number of transactions that summed up to 1.1 million with more than 35 million VTHOs burned.

What we can see at press time is the VeChain price trading at $0.003522 with a daily increae of more than 6%. Just like most of the altcoins, the VeChain crypto news show that the momentum around the coin is solid. However, on a monthly scale, the VeChain price and VET token is down from 0.004229.

That said, there is not much positive momentum right now. As it stands, VET will suffer as much as Bitcoin and other cryptocurrencies suffer right now. In comparison with the other coins, for example, the ETH news show that the biggest altcoin out there dropped by more than 30% and went from more than $220 to a new low of $180 which is the current price for Ethereum (ETH).

In comparison to Bitcoin, VEC falls short of a good rise. BTC is right now at $8,400, recovering after yesterday’s steep fall to $7,700.

What is good is the fact that some momentum is building up on the market. We can see that the total cryptocurrency market cap is now at $223 billion which is higher than $11 billion compared to yesterday’s levels. The 24 hour volume is at $60 billion which is another solid sign that a bullish action may be nearing.