- VeChain’s acquisition of two more U.S. patents shows its commitment to blockchain security and innovation.
- Recent market analysis suggests VeChain may be about to go on a bull run if it can hold onto key support levels and resist Bitcoin’s volatility.
VeChain has secured two new patents in the United States, demonstrated that it is still leading the blockchain industry, and made great progress in fortifying its technology base.
‼️ Vechain obtained another US Patent on 12 March 2024 ‼️
Method, user device, management device, storage medium and computer program product for key management#vechain $vet #vefam 😛 https://t.co/LSljfO8mu1 pic.twitter.com/yrZ25Eys5f
— AprilStrawberry (@APRIL5TRAWBERRY) March 19, 2024
An Amazing Year for Patent Success for VeChain
A patent that transforms key management for a range of devices and applications was awarded to VeChain on March 12, 2024.
So, after being approved in April and January, VeChain now has four patents in total within a year of the addition of these two. VeChain’s patent portfolio has grown quickly, demonstrating both the company’s innovative nature and its unwavering commitment to pushing the limit of technological innovation, echoing earlier coverage by ETHNews.
Of course, these patents represent VeChain’s continuous search for novel discoveries that have the potential to revolutionize the blockchain space, making them more than just legal accomplishments.
In addition to its patent accomplishments, VeChain’s VeBetterDAO project has shown considerable promise. More than 1,500 community members participated in the second voting round, which saw the distribution of 16,000 B3TR tokens to startups like Mugshot, Vyvo Smart Chain, and Cleanify.
The VeBetterDAO has completed its second round of voting!
At the end of the round, 1.5k users helped @mugshot_vet, @VyvoSmartChain and @cleanify_vet secure 16,000 B3TR tokens, to be distributed via X-2-Earn applications tackling various sustainability issues. pic.twitter.com/6bIPqGmsFW
— vechain (@vechainofficial) March 19, 2024
These tokens are distributed among projects that tackle various sustainability concerns, demonstrating VeChain’s commitment to environmental stewardship and community-driven solutions.
On the other hand, as ETHNews previously reported, VeChain’s VeBetterDAO Hackathon in Cambridge was a resounding success, with Meatless and EcoNex emerging as the winners and showcasing creative sustainability solutions.
Analyst Views on Trends in the VET Market
Analysts covering the market have lately offered their perspectives on VeChain native token, VET, performance. An analyst with World of Charts tweeted about VeChain’s recovery from a crucial support zone, indicating growing investor interest and maybe a significant price spike in the coming weeks.
Additionally, a Raidenx analysis on X highlighted VeChain’s position above a weekly support/resistance level, which suggested that Bitcoin’s trajectory might affect VeChain’s trajectory.
It is expected that VeChain will retest and hold its place along a trend line that has been in place for some time, paving the way for more rises.
#VeChain closed candle above Weekly S/R level. I expect that this will break down if BTC does. Hopefully $VET will retest the multi year trend line (pink) and hold before going higher pic.twitter.com/mExpHLDp3B
— raidenx (@benj_strong) March 19, 2024