VeChain continues to increase its value, should you buy it?

on Oct 28, 2021
  • VeChain broke from its downtrend and has reached a breakout.
  • The token is slowly moving up towards getting to new heights.
  • The token increased in value in the last 24 hours by 3.46% and could go up a lot more.

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VeChain VET/USD is a blockchain-powered supply chain platform. It uses two tokens, including VET and VTHO to manage and create value based on the public blockchain.

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Its goal is to disrupt the traditional supply chain model, an industry that has not seen any significant changes throughout its recent history.

Recent updates as a catalyst for growth 

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Back in June, VeChain started playing a significant role in China’s Plastic Pollution Control.

To this day, VET continues to use the technology to prove its capability in the supply chain sector.

On September 17, Antonio Senatore joined the VeChain Foundation as a new steering committee member.

He is responsible for Deloitte Blockchain’s tech roadmap, infrastructure definition, and technology research. 

That said, VeChain has continued to increase its value and has taken a positive turn after the global crypto bull that occurred in September.

This increase in demand for the token has led to a surge within the past few days, making this an excellent opportunity to buy the token.

Should you buy VeChain (VET)?

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On October 28, VeChain (VET) had a value of $0.1301.

To get a better perspective as to what kind of value point this is for the token, we will be comparing it to it’s all-time high-value point as well as its pricing in September.

VeChain (VET) had its all-time high value on April 19, with a value of $0.2809. This made the token $0.1508 higher in value at its all-time high point, or by 115%.

On September 6, VeChain (VET) had a value of $0.1556. This was its highest point of the month.

Its lowest point was on September 22, when the token fell to a value of $0.0861.

Here we can see that the token decreased in value by $0.0695 throughout the month, or by 44%.

However, from September 22 to October 28, the token increased in value by $0.044 or by 51%.

With the increase in the demand and the utility of the VET token, we can see an increase in its value.

This means that the token could potentially increase to $0.2 by the end of November, making it a solid purchase.

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