• Over 3,500 blockchain developers have started the VeChain course, thus earning VET while obtaining crucial knowledge about VeChain’s ecosystem.
• VET price gained approximately 4.18 percent in the last 24 hours to trade around $0.016. 

Leading enterprise-focused layer one blockchain, VeChain (VET), has continued to build its ecosystem during the cryptocurrency bear market in preparation for the expected bull rally to be triggered by Bitcoin halving during the first half of 2024. VeChain network has made several notable partnerships in the past year to increase the utility of the VeChainThor, thus widening the mainstream adoption of its native tokens VET and VTHO. For instance, the VeChain network is being used by prominent businesses to streamline their supply chain management including DHL and Walmart China.

Of utmost importance, the VeChain team is scaling its products in a regulated manner. Furthermore, the VeChain network is regulated in several jurisdictions in Asia and Europe and the team intends to scale to the United States in the near future.

VeChain Network’s Plan to Scale its Mainstream Adoption Via a Learn-2-Earn Campaign

The race for mainstream blockchain and cryptocurrency adoption has intensified in the past year amid the increased introduction of digital assets regulatory frameworks in different jurisdictions. The VeChain team understands the high competition in layer one and smart contract-enabled blockchains, thus already working with different entities to attract more competent DeFi developers.

In the recent developments, VeChain made a strategic partnership with EasyA, a community of over 500k developers backed by several venture capitals including a16z, to launch a learn-2-earn campaign for DeFi developers. Dubbed 60DaysOfVechain, the learn-2-earn campaign by VeChain had made a target of 500 developers but has since recorded over 3,500 applicants.

The VeChain team has committed to sponsoring the top 200 performers, which will convene for a hackathon at Harvard University to build and compete for a prize pool of $30k. Essentially, any DeFi developer irrespective of the geographical location can participate in VeChain’s learn-2-earn campaign by simply downloading the EasyA application and registering for the course.

Market Outlook

VeChain network has grown to a vibrant smart contract ecosystem with about $1 million in total value locked (TVL). However, the current VeChain’s TVL is a significant drop from its peak of about $35 million earlier last year. Nonetheless, the VeChain network has maintained its high-profile presence in the crypto community despite the devastation of the bear market. Moreover, the VeChain network had a market capitalization of about $1.19 billion with a 24-hour average traded volume of about $36 million.

Notably, VeChain’s VET price exchanged about $0.0164 on Wednesday, up approximately 4.5 percent in the past 24 hours. The medium-cap altcoin is, however, down approximately 94 percent from its ATH, about 28 cents, which was achieved during the 2021 crypto bull rally.

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