- VeChain rose 9.3% in 24 hours, with volume up 44% and open interest up 6.7%.
- VET remains 91% below its all-time high of $0.281 from April 2021.
- Sustained BTC momentum could push VET higher—if Bitcoin holds the line.
The crypto market is absolutely buzzing. Bitcoin just cracked a fresh all-time high of $118,254, and investor sentiment is firing on all cylinders. Riding this bullish wave is VeChain (VET), which is showing solid gains across multiple time frames—even if it’s still got ground to cover.
In the past 24 hours, VET has jumped 9.3%. Over the past week, it’s climbed 14.9%, and it’s up 20.5% in the last 14 days. Despite the momentum, the token is still down 5.1% over the past month and has slipped 5.7% since July 2024.
Volume and Open Interest Suggest Rising Investor Attention
VET isn’t just rising in price—it’s catching eyes. According to CoinGlass, VeChain’s volume spiked by 44.57%, while open interest jumped 6.73%. That combo—more volume and more open positions—usually points to growing conviction among traders.
The spike lines up closely with Bitcoin’s breakout and the flood of institutional capital into BTC ETFs. With big money flowing into crypto, altcoins like VET are starting to pick up steam from the broader market tailwind.
Still Miles From Its All-Time High
While the short-term price action looks promising, VET is still deep in the shadow of its all-time high. The token peaked at $0.281 back in April 2021. Right now, it’s down more than 91% from that level. The upside? There’s plenty of room to run—if the rally holds.
Of course, that depends on Bitcoin. If BTC pulls back, VET could easily dip too. A break below the $0.02 mark might spook investors and trigger more downside. On the flip side, sustained ETF inflows and continued market optimism could give VET the push it needs.
Can VET Repeat December’s $0.077 Push?
VET hit $0.077 in December 2024 during another market rally. If current conditions stick—strong BTC, high volume, rising interest—it’s not impossible to see a similar move in July. But as always in crypto, sentiment can shift fast. Traders should stay alert, especially with profits on the table.
For now, though, the charts are looking bullish, and VET is back in the game.
