- VeChain, Chainlink, and IOTA bring a glimmer of hope for altcoins
- VET dropped by 21.49% last week like the rest of the market
- VET price is trading at $0.0057 at press time
VeChain News Today – the digital asset market has been bearish since last week. However, as we entered the month of March things began to change for the better. The number one asset class Bitcoin has seen its dominance on the crypto market reach 63.9% as of when this content was published. This recent price action for BTC is proof that altcoin bulls have struggled above the key pivot price positions.
While the bulk of altcoins dropped in value after the recent downward correction, some altcoins have continued to post gains as they were able to breach several key resistance positions, while projecting some strong bullish momentum at the same time. VeChain is one of these tokens. The other two are Chainlink and IOTA.
How the Price of VeChain [VET] Performed
Since this year began, the digital asset market including VeChain has had a positive few weeks. The VET token rallied well to a good price range. However, just like its competing coins, the price VET dropped by 21.49% after it initially rallied in the last week. At the time the coin briefly surpassed its major resistance point of $0.0081. Last week’s downward correction was paused for VET price after the Singaporean crypto exchange Bitrue partnered with the decentralized technology app platform VeChain. The move was facilitated by VeChain’s investment unit CREAM.
The price of VET was trading at $0.0057 after it managed to surge by about 3.53% in the past 24-hours. The coin’s market capitalization stood at a whopping $318.6 million. In the last 24-hours of trade, the coin’s trade volume reached $170.6 million.
What About Chainlink [LINK] and IOTA?
Chainlink began to gain traction after posting gains of 15.06% last week. Chainlink also announced a new partnership with Ethereum Classic Labs. The goal of the collaboration is to bring decentralized oracles to the Ethereum Classic ecosystem. LINK price is now bullish at press time. The token is trading at the $4.21 area after it appreciated by an impressive 5.13% in the last 24-hours. In addition, the coin posted an overall market capitalization of $1.47 billion as well as a 24-hour trade volume of $476 million.
Meanwhile, IOTA has managed to drive its price by 26.71% since last week. One big news in IOTA is the collaboration with Jaguar Land Rover. IOTA was trading at $0.218 at press time after rising by 3.54% in the last 24-hours. It reportedly held a total market cap of $607.8 million. IOTA also recorded a trading volume of $7.001 million in the last day.