VeChain’s latest rally reveals this about the state of VET in coming days
VeChain [VET] has been witnessing a price pump for over a week as it increased by more than 4%. The growth did not seem to have stopped, as according to CoinMarketCap, VET was up by over 3% in the last 24 hours. At the time of writing, it was trading at $0.02429 with a market capitalization of more than $1.7 billion.
Realistic or not, here’s VET market cap in BTC ‘s terms
Though the on-going bullish market contributed majorly to the price uptick, a few other developments in the VeChain ecosystem might have also played their roles. A notable development was the announcement of VeChain implementing fee delegation in its web wallet.
<p lang=«en» dir=«ltr» xml:lang=«en»>One of our most powerful features is 'fee delegation' – a protocol that removes the need for enterprises to manage transaction fees and a key step towards mass adoption of blockchain technology.We've just implemented fee delegation in our Web Wallet – https://t.co/VeQl1VCY3X -… pic.twitter.com/z8Kf1DAea2
— vechain (@vechainofficial) April 4, 2023
For starters, fee delegation has allowed leading global enterprises to use the VechainThor public blockchain without paying transaction fees or managing crypto assets directly.
The official announcement mentioned that VeChain has implemented fee delegation in its official web wallet called VeWorld. This would eliminate the need for users to manage their own transaction fees. Furthermore, as per VeChain, the new development would help increase the blockchain’s adoption.
Thanks to VET’s price action, the token’s popularity skyrocketed over the last few days. Santiment’s chart revealed that VET ’s social volume was drastically up, proving its popularity. Not only that, but the latest fee delegation update also
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