VeChain, the competitor of projects such as Ethereum, has almost dazzled with its recent performance.
According to sources like CoinGecko, VeChain (VET) has gained more than 50 percent against the dollar in the past 7 days. Traders who bought VET at $ 0.0085 a week ago can sell these tokens for $ 0.013 today.
Why Is It Rising?
The rise in VeChain price actually started in May. VET, which has exceeded its 200-day exponential moving average, started to appreciate rapidly.
This mobility of VET may have been fueled by a report by Deloitte. Deloitte, who conducted research on blockchain projects such as Ethereum and VeChain, compared these projects according to their decentralization, security and scalability levels. As a result of these researches, the company found that VeChain is better than Ethereum, especially in terms of security and scalability.