VeChain Rallies 9.7% While Cryptocurrency Market Bleeds: Why?
VeChain (VET) is currently the best-performing cryptocurrency in the daily charts among the top 100 projects by market cap, rallying 4.2% in the last 24 hours. VET’s price is green across the board, a stark contrast to the larger cryptocurrency market. According to CoinGecko’s VeChain statistics, VET is up 9.7% in the weekly charts, 2% in the 14-day charts, 1.7% over the previous month, and 2.6% since August 2024. Source: CoinGecko What Is Behind VeChain’s Rally? Source: blockchainreporter VeChain’s rally comes amid a market-wide correction. Bitcoin (BTC) faced a steep price dip to the $112,000 level after climbing to an all-time high of $124,128 earlier this month. Most other major cryptocurrencies are following BTC’s trajectory. VET, however, seems to be pivoting from the market trend. The market dip could be due to increased profit-taking. The correction may have been further propelled by poor investor sentiment. President Trump’s tariffs have give...