Meta Data: VeChain has shown some strengthening in the last couple of days. The long term trend is bullish while the short term is still bearish.

There is a piece of good news for dapp developers as VeChain launched a new bounty program in order to boost decentralized apps development on the blockchain. Additionally, the foundation has decided to launch a VTHO subsidy program. For all those developers who agree on implementing native fee delegation features to their application, the organisation is planning to relaunch an updated VeChainThor Supercharger program.

Current Statistics (July 19, at UTC 09:08):

  • VeChain (VET) vs USD was trading around $0.00558568.
  • Against Bitcoin, the altcoin was valued around 0.00000054 BTC per chip.
  • VeChain (VET) is currently placed at 33rd position in cryptocurrency chart.
  • Additionally, the market capitalisation of the coin was around 309,186,308 USD.
  • On top of that, the 24-hour trading volume in the altcoin was 29,839,263 USD.
  • The number of VeChain chips circulating in the market, at the above mentioned time, was 55,454,734,800 VET.
  • At the time of writing, the return on investment in VeChain was 62.93%, but in the negative.

Comparison:

On June 24, VeChain (VET) was trading around 0.00718071 USD. Nevertheless, over the period of 25-days, the crypto has undergone a substantial decline of 22.21%. In a similar way, the digital coin has made a dip of 18.60%, in a week of trading, from the market price of 0.00679878 USD on July 13. But, the cryptocurrency has strengthened a bit in yesterday’s trading, where it opened around 0.005451 USD and with a strengthening of 5.10%, wrapped the day at 0.005730 USD.

Prediction:

VeChain (VET) has shown some good signs in the last few days, where the crypto has been in the green zone. The coin is expected to go up from these levels and as per our analysis, it will trade around 0.01 USD in the long term. The immediate resistance for the coin is at 0.005892 USD and the support level is at 0.005439 USD.

Conclusion:

The latest announcement of the bounty program will drive a number of potential developers toward the blockchain and ultimately toward the VeChain ecosystem. As far as trends are concerned, the long term is bullish at the current level. However, the short term appears to be an unpredictable one.

Published by Cami Williams

Cami Williams is a leading news journalist and is working with tronnews.world for 5 years. She has a keen knowledge of various types of cryptocurrencies and the benefits of cryptocurrency exchanges. She likes to read investigating novels in her free time.