{"id":460292,"date":"2021-04-02T19:00:48","date_gmt":"2021-04-02T19:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=460292"},"modified":"2021-04-02T17:21:20","modified_gmt":"2021-04-02T17:21:20","slug":"is-vechain-on-the-cusp-of-a-parabolic-rally-this-analyst-responds","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-vechain-on-the-cusp-of-a-parabolic-rally-this-analyst-responds\/","title":{"rendered":"Is VeChain on the cusp of a parabolic rally? This analyst responds"},"content":{"rendered":"<p>In a <a href=\"https:\/\/twitter.com\/RealVision\/status\/26435338\" target=\"_blank\" rel=\"nofollow\">poll<\/a> conducted via Real Vision&#8217;s Twitter handle, an overwhelming majority has voted that VeChain (VET) is the most<a href=\"https:\/\/wncen.com\/news\/vechain-wants-developers-to-migrate-nft-projects-to-vechainthor\/\"> undervalued cryptocurrency on the market.<\/a> With 140,000 users participating and 65.8% of the votes in favor, VET prevailed over Hedera Hashgraph (HBAR) and Ravencoin (RVN).<\/p>\n<p>An analyst called &#8220;VeChain Justin&#8221; added the poll results to his bullish case on this cryptocurrency. VeChain&#8217;s community is in the process of voting to modify or maintain transaction fees on the blockchain VeChainThor.<\/p>\n<p>The analyst believes that the results of this vote will favor fee reduction, cost optimization for corporations operating on the blockchain and consequently, <a href=\"https:\/\/wncen.com\/news\/this-is-why-billion-dollar-companies-are-building-on-vechain\/\">there will be an increase in VET adoption during 2021<\/a>. VeChain Justin said:<\/p>\n<blockquote><p>I am extremely bullish on VeChain. More than ever before because of the vote to reduce base gas price. Understand or get left behind. Because the bulls are repeating on deaf ears. All paths point to mass adoption. We moon in 2021. 100%. Zero doubt.<\/p><\/blockquote>\n<p>VeChain Foundation has made an update on the voting process that will conclude in a few days. So far, more than 800 nodes have voted on the VeVote platform. With 525 votes and 73.39%, the majority favoring the reduction of fees to 1% of the current price, 1e13 wei.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Almost 800 nodes have casted their votes regarding the reduction in VeChainThor&#39;s Base Gas Price!<\/p>\n<p>This VeVote is a very important process that will determine the future of VeChain for all stakeholders. <\/p>\n<p>Let&#39;s build this future together &amp; vote now! <a href=\"https:\/\/twitter.com\/search?q=%24VTHO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$VTHO<\/a><a href=\"https:\/\/t.co\/hXEhuGyAGM\" rel=\"nofollow\">https:\/\/t.co\/hXEhuGyAGM<\/a> <a href=\"https:\/\/t.co\/V8TMOCLMfs\" rel=\"nofollow\">pic.twitter.com\/V8TMOCLMfs<\/a><\/p>\n<p>&mdash; vechain (@vechainofficial) <a href=\"https:\/\/twitter.com\/vechainofficial\/status\/71656963?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 1, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>VeChain tracking Cardano&#8217;s (ADA) price?<\/h2>\n<p>VET is currently trading at $0.09 with gains of 3.9% on the weekly chart. In the last week, VET&#8217;s price has seen a 15% increase and an impressive 112% on the monthly chart. Over the year, the cryptocurrency is up over 2,800%.<\/p>\n<figure id=\"attachment_460294\" aria-describedby=\"caption-attachment-460294\" style=\"width: 758px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-460294 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.png?resize=758%2C374\" alt=\"VeChain VET\" width=\"758\" height=\"374\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.png?w=758 758w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.png?w=750 750w\" sizes=\"(max-width: 758px) 100vw, 758px\"><figcaption id=\"caption-attachment-460294\" class=\"wp-caption-text\">VET with moderate gains in the 24-hour chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/\" target=\"_blank\" rel=\"nofollow\">VETUSDT Tradingview<\/a><\/figcaption><\/figure>\n<p>Looking at VET&#8217;s price action, VeChain Justin stated that the intraday chart has created a bull flag formation. Therefore, the trader <a href=\"https:\/\/twitter.com\/VeChainJustin\/status\/91090945\" target=\"_blank\" rel=\"nofollow\">expects<\/a>:<\/p>\n<blockquote><p>Price action on the cusp of breaking and going parabolic. Circled area of importance (\u2026). Looking for a bounce on line or flag breakout to go parabolic. 2.618 Fib @ 24 cents. Bless us crypto gods.<\/p><\/blockquote>\n<figure id=\"attachment_460295\" aria-describedby=\"caption-attachment-460295\" style=\"width: 754px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-460295 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.jpg?resize=754%2C487\" alt=\"VeChain VET\" width=\"754\" height=\"487\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.jpg?w=754 754w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.jpg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/VeChain-VET.jpg?w=750 750w\" sizes=\"(max-width: 754px) 100vw, 754px\"><figcaption id=\"caption-attachment-460295\" class=\"wp-caption-text\">Source: VeChain Justin<\/figcaption><\/figure>\n<p>Comparing VET&#8217;s chart to Cardano&#8217;s native token, ADA, the trader stated that they are &#8220;too similar to ignore.&#8221; A year ago, ADA&#8217;s price was trading below $0.10 and, since then, it has had a bull-run with 3,804% gains reaching $1.21, at the time of publication. The analyst stated:<\/p>\n<blockquote><p>The resemblance to ADA chart is too close to ignore. Imagine it follows through and we do go parabolic. Extrapolated measurements show a price target of $0.77 around first week of July! Can you imagine? #VeFam deserves it. Please make them all rich.<\/p><\/blockquote>\n<p>In its most recent report, VeChain Justin stated that the weekly time frames are approaching his target. The analyst is looking at a breakout for VET to reach $0,10 and then continue pushing into unknown territory. He added: \u201cMoon is around the corner\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a poll conducted via Real Vision&#8217;s Twitter handle, an overwhelming majority has voted that VeChain (VET) is the most undervalued cryptocurrency on the market. With 140,000 users participating and 65.8% of the votes in favor, VET prevailed over Hedera Hashgraph (HBAR) and Ravencoin (RVN). An analyst called &#8220;VeChain Justin&#8221; added the poll results to his bullish case on this cryptocurrency. VeChain&#8217;s community is in the process of voting to modify or maintain transaction fees on the blockchain VeChainThor. The analyst believes that the results of this vote will favor fee reduction, cost optimization for corporations operating on the blockchain and consequently, there will be an increase in VET adoption during 2021. VeChain Justin said: I am extremely bullish on VeChain. More than ever before because of the vote to reduce base gas price. Understand or get left behind. Because the bulls are repeating on deaf ears. All paths point to mass adoption. We moon in 2021. 100%. Zero doubt. VeChain Foundation has made an update on the voting process that will conclude in a few days. So far, more than 800 nodes have voted on the VeVote platform. With 525 votes and 73.39%, the majority favoring the reduction of fees to 1% of the current price, 1e13 wei. Almost 800 nodes have casted their votes regarding the reduction in VeChainThor&#39;s Base Gas Price! This VeVote is a very important process that will determine the future of VeChain for all stakeholders. Let&#39;s build this future together &amp; vote now! $VTHOhttps:\/\/t.co\/hXEhuGyAGM pic.twitter.com\/V8TMOCLMfs &mdash; vechain (@vechainofficial) April 1, 2021 VeChain tracking Cardano&#8217;s (ADA) price? VET is currently trading at $0.09 with gains of 3.9% on the weekly chart. In the last week, VET&#8217;s price has seen a 15% increase and an impressive 112% on the monthly chart. Over the year, the cryptocurrency is up over 2,800%. Looking at VET&#8217;s price action, VeChain Justin stated that the intraday chart has created a bull flag formation. Therefore, the trader expects: Price action on the cusp of breaking and going parabolic. Circled area of importance (\u2026). Looking for a bounce on line or flag breakout to go parabolic. 2.618 Fib @ 24 cents. Bless us crypto gods. Comparing VET&#8217;s chart to Cardano&#8217;s native token, ADA, the trader stated that they are &#8220;too similar to ignore.&#8221; A year ago, ADA&#8217;s price was trading below $0.10 and, since then, it has had a bull-run with 3,804% gains reaching $1.21, at the time of publication. The analyst stated: The resemblance to ADA chart is too close to ignore. Imagine it follows through and we do go parabolic. Extrapolated measurements show a price target of $0.77 around first week of July! Can you imagine? #VeFam deserves it. Please make them all rich. In its most recent report, VeChain Justin stated that the weekly time frames are approaching his target. The analyst is looking at a breakout for VET to reach $0,10 and then continue pushing into unknown territory. He added: \u201cMoon is around the corner\u201d.<\/p>\n","protected":false},"author":535,"featured_media":460293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12882,12884,79505],"class_list":["post-460292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-vechain","tag-vet","tag-vetusdt"],"acf":[],"yoast_head":"\n<title>Is VeChain on the cusp of a parabolic rally? 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Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is VeChain on the cusp of a parabolic rally? 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