Despite being the 44th largest cryptocurrency, VeChain (VET) has managed to catch the eye of many. The altcoin has been making headlines for its spontaneous spikes, but it seems like the asset has been seeing more lows than upticks. Looking back at the past seven days, VET declined by 13%. The asset is 92% below its all-time high of $0.2782.
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At press time, VET was trading at $0.02126, up 0.81% over the past days. Despite the stagnant price, the asset’s daily volume saw a major spike of 22%.
VET’s September Surge
Based on Changelly analysts’ analysis, VeChain’s price could reach a maximum of $0.0254 in September 2024. While this is a notable boost from its current price, it is still distant from its peak.
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The altcoin could also drop to $0.0206. The predicted average value of VeChain for September 2024 is close to $0.0254.
Can VeChain’s Sustainable Collaborations Aid Its Price?
VeChain recently partnered with SolarWise Own The Sun AG. The duo is now working to integrate blockchain technology with renewable energy sources. Its first solar farm in Brazil is scheduled to be completed on September 20, 2024.
The network has been diving into global initiatives to promote sustainability. By incorporating VET into crucial processes like minting Solar NFTs, transactions, and monthly energy sale payouts, this approach seeks to improve VET’s utility. This further forges a win-win partnership between SolarWise and VeChain.
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VET could certainly benefit from the rising utility. The asset could surge further if the network continues boosting its real-world use cases.