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VeChain VET is one of many Altcoins that have been on a surge in the past 24 hours. At press time, VET is trading at $0.04969. In just the past week, the trading volume for the coin has risen by 42.0% as well. Multiple factors may be affecting the altcoin market currently. Here’s a breakdown of why VET in particular has been soaring in the past day. VeChain VET Gets a Boost From Bitcoin Source: Binance Academy As mentioned previously, the entire altcoin market has seen a boom in the past week. Today, in particular, VeChain and other altcoins are seeing a boost primarily due to the ongoing Bitcoin rally. Over the last 24 hours alone, BTC is up almost 6% and is currently trading north of $54,000. As a result, Bitcoin is pumping into the entire cryptocurrency market, including Altcoins such as VET . Crypto investment products saw inflows of almost $600 million last week, and the hype around the market is currently bullish. Also Read: BTC Climbs Above $54,000: ...

VeChain ( VET ) has surged by over 76% since January 2023. Although the token has faced a 4.7% correction in the daily charts, it is still up by more than 6% since last week. Moreover, the asset has surged by over 34% in the monthly charts and over 66% in one year. Source: CoinGecko Also Read: VeChain Working With United Nations in Sustainability Campaign VeChain’s (VET) rally might not be over just yet. According to renowned cryptocurrency analyst Ali Charts, VET is currently mirroring its consolidation phase from 2018 to 2020. The analyst says VET could break past its $0.033 resistance level in the next two weeks. The development may cause VeChain to rally to $0.077 by late January 2024. The price increase would translate to a growth of about 185% from current levels. Source: Ali Charts, X Will VeChain (VET) rally this holiday season? Source: Zipmex According to CoinCodex, VET’s price may drop to $0.026 on Dec. 26, 2023, a fall of about 3.7% from current lev...