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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

VeChain Mentioned in 2021 Forbes Blockchain 50, Parabolic Move In Sight?

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
VeChain VET VETUSDT

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Up 150.3% over the past 14 days, VeChain (VET) trades at $0,23 with 15.6% and 84.4% profits in the daily and weekly chart, respectively. In addition to the rally, the company celebrated a major milestone that could give a new impulse to its corporate adoption.

VeChain VET VETUSDT
VET with strong gains in the daily chart. Source: VETUSDT Tradingview

Via its Twitter handle, the VeChain Foundation announced VeChain was mentioned in 2021 Forbes Blockchain 50. Celebrated for its third year, this event was created to offer a “definitive accounting” of those companies using blockchain technology and cryptocurrencies.

Forbes declares that Bitcoin and blockchain have gone mainstream in 2020. With a growing interest and use in many sectors, this technology has a real impact in the corporate world. Forbes said:

Bitcoin and blockchain have gone mainstream. Bitcoin’s 2020 surge grabbed the attention of C-suite executives worldwide; not only are companies employing the technology underlying Bitcoin to perform tasks such as reconciling invoices and verifying product provenance, but dozens are now holding Bitcoin as a treasury asset.

The list includes software company MicroStrategy, led by Michael Saylor; Ant Group, founded by the former executive chairman of Alibaba Group; Binance, Coinbase, PayPal, Samsung, Square, and others. The VeChain Foundation said:

Blockchain is transforming the supply chain & traceability industries, eliminating inefficiencies. Thank you, Archana Sristy, for mentioning #VeChain in the 2021 Forbes Blockchain 50! We’re proud to power Walmart China’s Food Traceability Platform.

VeChain’s (VET) recent price action manipulated?

Trader Justin Bennet has been bullish on VeChain’s native token VET. However, he believes the 24-hour rally could have been caused by a “large Discord group”. Bennet classified the token’s rally as inorganic and said there was manipulation in yesterday’s price action. He added:

Stating that there was a coordinated VET pump on Friday takes nothing away from the fundamentals behind VeChain. Does VET deserve to be where it is?  Hell yes. I’ve said multiple times I think it’s going to $1 to $3 this year.

The Discord group Bennet referred has approximately 200,000 members and their alleged move converge with a high trading volume for VET in South Korea’s exchanges.

On the other hand, trader VeChain Justin said VET is poised for a “parabolic move”. According to the chart he shared, VET has formed a “massive bullish Cup & Handle Pattern”. In addition to an increase in trading volume, this could send VET to a 377% rally. He added:

This aligns closely with 4.618 Fib extension. Expect consolidation in handle before liftoff. $VET target: $0.5008.

VeChain VET VETUSDT
Source: VeChain Justin

Up 150.3% over the past 14 days, VeChain (VET) trades at $0,23 with 15.6% and 84.4% profits in the daily and weekly chart, respectively. In addition to the rally, the company celebrated a major milestone that could give a new impulse to its corporate adoption.

VeChain VET VETUSDT
VET with strong gains in the daily chart. Source: VETUSDT Tradingview

Via its Twitter handle, the VeChain Foundation announced VeChain was mentioned in 2021 Forbes Blockchain 50. Celebrated for its third year, this event was created to offer a “definitive accounting” of those companies using blockchain technology and cryptocurrencies.

Forbes declares that Bitcoin and blockchain have gone mainstream in 2020. With a growing interest and use in many sectors, this technology has a real impact in the corporate world. Forbes said:

Bitcoin and blockchain have gone mainstream. Bitcoin’s 2020 surge grabbed the attention of C-suite executives worldwide; not only are companies employing the technology underlying Bitcoin to perform tasks such as reconciling invoices and verifying product provenance, but dozens are now holding Bitcoin as a treasury asset.

The list includes software company MicroStrategy, led by Michael Saylor; Ant Group, founded by the former executive chairman of Alibaba Group; Binance, Coinbase, PayPal, Samsung, Square, and others. The VeChain Foundation said:

Blockchain is transforming the supply chain & traceability industries, eliminating inefficiencies. Thank you, Archana Sristy, for mentioning #VeChain in the 2021 Forbes Blockchain 50! We’re proud to power Walmart China’s Food Traceability Platform.

VeChain’s (VET) recent price action manipulated?

Trader Justin Bennet has been bullish on VeChain’s native token VET. However, he believes the 24-hour rally could have been caused by a “large Discord group”. Bennet classified the token’s rally as inorganic and said there was manipulation in yesterday’s price action. He added:

Stating that there was a coordinated VET pump on Friday takes nothing away from the fundamentals behind VeChain. Does VET deserve to be where it is?  Hell yes. I’ve said multiple times I think it’s going to $1 to $3 this year.

The Discord group Bennet referred has approximately 200,000 members and their alleged move converge with a high trading volume for VET in South Korea’s exchanges.

On the other hand, trader VeChain Justin said VET is poised for a “parabolic move”. According to the chart he shared, VET has formed a “massive bullish Cup & Handle Pattern”. In addition to an increase in trading volume, this could send VET to a 377% rally. He added:

This aligns closely with 4.618 Fib extension. Expect consolidation in handle before liftoff. $VET target: $0.5008.

VeChain VET VETUSDT
Source: VeChain Justin
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. 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’s ‘Neuromancer.’ 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’s ‘Civil Disobedience.’
But that’s 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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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