However, at the time of writing, nothing reflected on VeChain’s chart, as it was mostly painted red. According to CoinMarketCap, at the time of writing, VET registered over 3% negative weekly gains and was trading at $0.01859 with a market capitalization of more than $1.3 billion.Over the last week, VeChain’s development activity went up, thanks to the new collaborations.
However, after registering a spike, the network’s positive sentiments went down. This indicated that the crypto community had little faith in VeChain. The blockchain also did not receive much interest from the derivatives market as its Binance funding rate decreased.’s daily chart revealed that the investors might have to wait longer to enjoy the results of the aforementioned developments. This was because most market indicators did not support a price surge.
The Chaikin Money Flow and On Balance Volume also registered downticks, suggesting a further downtrend in the days to follow.Subscribe to get it daily in your inbox.