- VeChain is expected to continue its bullish run to $1 as a renowned analyst observes a possible imitation of the previous cycle.
- The upcoming VeChain Renaissance and the official inauguration of Donald Trump could be the catalysts for this run.
VeChain (VET) attempts to reclaim its monthly high of $0.073 as it prints a 1.78% surge on its daily price chart to trade at $0.048.
According to analyst EGRAG CRYPTO, VET could replicate the 2020 cycle to make an explosive run to $1. In the previous cycle, the asset surged by 6,538% to add $0.19888 to its price. Reviewing this thesis, we observed that EGRAG CRYPTO factored in the historical peak and 2023 low to make his analysis.
Our research shows that the analyst has always maintained a bullish prediction. In September, EGRAG CRYPTO highlighted that the asset was on the verge of entering a new impulsive wave based on the Elliot Wave Theory analysis. Fascinatingly, analyst Alan Santana confirmed this analysis in his earlier post.
According to Santana, the previous cycle developed a series of three waves, each appearing stronger than the previous one. Per his observation, the total cycle lasted for 595 days, and the asset recorded a 1,291% growth from bottom to top.
Santana also disclosed that the chart presented several opportunities to sell at the top and buy back lower. Most importantly, our research shows that VeChain is repositioning itself through a series of upgrades to embark on a massive surge in 2025. One of them is the holistic upgrade called VeChain Renaissance.
The VeChain Renaissance
As we reported on December 13, VeChain’s decision to reimagine its tokenomics is to stay ahead of the evolving regulation, enable long-term growth and ecosystem scaling, make the community the center of the ecosystem, and balance the needs of stakeholders.
The change of the tokenomics would also be done through “Optimized VTHO Issuance, New VTHO Distribution Model, New Opportunities in PoA 3.0, and Dynamic Fee Mechanism.”
The Dynamic Fee Mechanism would be used to address key security and network challenges through:
- Adaptive fees: this would adjust transaction costs based on demand.
- Congestion Management: this would regulate fees to maintain optimal performance.
Above all, the community was said to be central to the VeChain vision.
As always, our incredible community remains central to our vision, and we build towards our macro-objectives. Through highs and lows, we’re grateful to have built such an engaged, passionate, and dedicated following and this transition, in part, is an homage to you. Our core protocol team.
Outside this technical development, the price of VET is also expected to benefit from the overall growth of the crypto market triggered by pro-crypto decisions by the new US administration. Trump’s election victory sparked a massive reaction in the market, pushing Bitcoin (BTC) above $100k and VET to a new yearly high. According to Kristin Smith, the CEO of the Blockchain Association, the election outcome is a huge victory for crypto.
This is a huge victory for crypto. I think we’ve turned a corner, and we’ve got the right folks in place to get the policy settled once and for all.
