VeChain (VET) Surges 11% in a Week: Analysts Predict Further Gains

• VET token surges by 4% in 24 hours, showing an 11% weekly increase.
• Analysts predict a major bull run for VET, driven by real-world asset tokenization and sustainability efforts.
• VeChain aims to onboard the next billion users to Web3 with its VeBetterDAO.

VeChain’s VET token is rapidly regaining its footing in the crypto market following recent price declines. In the last 24 hours, VET has risen by 4%, trading at $0.02713 at press time. Over a seven-day period, VET has surged over 11%, although it continues to trade at a 19% loss from last month’s value.

Amid this comeback, analysts like crypto YouTuber AJ are reemphasizing VET as one of the assets poised to benefit significantly from this cycle’s bull run. AJ focused his analysis on the parent company VeChain’s endeavors regarding real-world asset (RWA) tokenization and the sustainability market.

In a recent analysis, AJ pointed out that the Boston Consulting Group projects the RWA asset market to be worth $16 trillion to $68 trillion by 2030. He added that the sustainability economy is also projected to be worth $26 trillion in six years. Given that VeChain is targeting both sectors, the analyst expressed confidence that VET is primed to “ have one hell of a bull run .”

Notably, VeChain is spearheading the development of incentive-driven sustainability apps via its newly launched VeBetterDAO . Through its collaboration with Boston Consulting Group, VeChain aims to facilitate widespread adoption among enterprises and individual users, with the ambitious goal of onboarding the next billion users to Web3 within the next ten years.

The platform addresses significant barriers to blockchain adoption through its two-token model, comprising VET and VTHO. In his analysis, AJ posited a scenario wherein VET rallies by 1,400% in this bull season, potentially putting the asset at $0.38.

Other optimistic market watchers, including Ali Martinez and EGRAG, have argued for a VET price exceeding $1. Their projections are based on technical observations of historical patterns.