The VeChain ecosystem is thriving at the moment. In a recent company announcement, VeChain shared how the firm is launching a VeBetter DAO, boosting community sentiment.
The hype created by the firm before the announcement was unveiled proved essential to VET’s price ascent.
The token has climbed nearly 5% in the last 24 hours, fueled entirely by collective community sentiment.
Also Read: Cryptocurrency: 3 Coins To Watch Under $1 as Bitcoin Hits $56,000
Why is VET Rising?
VeChain, in a new update via X, announced that the firm is launching VeChain DAO. The DAO intends to propagate the engage, earn, and prosper philosophy while elevating community sentiment.
“VeBetterDAO is built to become Web3’s breakthrough moment—the foundation of a cross-sector sustainability dApp ecosystem that engages, incentivizes, and rewards user activity, onboarding enterprises and individual actors for good causes and novel dApps.”
Driven by the idea of sustainability, the firm has also launched two new tokens, $B3TR and $VOT3. The company later shared an update, adding how it will be airdropping $B3TR to early participants.
Additionally, with Bitcoin hitting $64K, the overall crypto market momentum is bullish, impacting VET’s ascent.
In response to the VeBetterDAO launch, the price of VET has skyrocketed to new levels.
According to CoinMarketCap, the VETs price has noted an upswing of 11%, marked by a slight dip of 0.84% in the last 48 hours.
The price of VET is currently at $0.04852. The 24-hour VET transaction volume stands at $346,066,772, noting a 190% increase in trading.
Also Read: VeChain (VET) Price Prediction: March 2024
$VET’s Reason for Success
VET’s meteoric rise is driven by a list of significant factors. VeChain’s enterprise adoption has widely grown, helping the crypto establish a solid base.
Similarly, the firm has also forged partnerships with entrepreneurial giants to bolster its momentum up a notch.
VeChain’s tokens VTHOR and VET have also been particularly compelling given their focus on supply chain management processes.
The leading driver fueling its meteoric growth is the VeChain stellar community approach. With diverse use cases around, the price of VET is poised to gain momentum in near future.
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