It is rather uncommon to see all of the cryptocurrencies te the green on a Sunday morning. If history has instructed us anything, it is how this momentum will not last all that long. Even so, the VeChain price is on the road to reaching $Four merienda again, thanks to some solid overnight momentum.
VeChain Price Surge Remains Rock-hard
Spil is the case with all other cryptocurrencies, the momentum is leisurely turning te confianza of VeChain merienda again. After a rather rough month packed with continual VeChain price declines, it seems an uptrend is forming overheen the past few days. Spil such, the value of this altcoin has risen from $Three.Eighteen all the way to $Trio.97 again overheen the past week.
To waterput this VeChain price into perspective, the overnight increase results te a solid Ten.84% build up. That is pretty incredible, especially when considering how the value of Bitcoin is on the rise and most other altcoins fight to build up more than 5% overheen the past 24 hours. Even so, it remains to be seen how long the VeChain price surge will last, spil cryptocurrencies remain volatile very very first and foremost.
Even so, VeChain has also gained a loterijlot of value overheen both Bitcoin and Ethereum ter the past 24 hours. Remarkably, it seems the VEN/ETH ratio has enhanced by just Five.36%, whereas the VEN/BC ratio enlargened by 9.92%. This seems to indicate more positive Ethereum price momentum can be expected ter the future, albeit it remains to be seen how that particular situation will play out te the days and weeks to come.
Thanks to $81.248m te 24-hour trading volume , the VeChain price has seen some interesting switches. At the same time, most people will readily acknowledge this trading volume simply isn’t sufficient to warrant any long-term momentum. Whether or not that will be the case, remains to be seen, albeit some caution is still advised when hopping on the VeChain price bandwagon for quick profits.
The way things look right now, LBank has become the thickest exchange for VeChain trading. This particular trading toneel has one BTC and one ETH trading pair te the top three, with Binance’s BTC and ETH pairs claiming 2nd and fifth spot. The only other exchange ter the top five is Bithumb with its KRW pair. An interesting mix of exchanges and currencies, albeit it remains to be seen how high the VeChan price can go ter this regard.
For the time being, the positive momentum remains present across all cryptocurrency markets. It is a very peculiar development, albeit a more than welcome switch given all of the negative market pressure overheen the past few months. This doesn’t mean Bitcoin and altcoins are out of the forest just yet, albeit things may eventually embark to improve ter the long term. For the VeChain price, it seems the shove to $Four will be relatively effortless, albeit one’s mileage may vary.