HomeNewsVeChain's US Patent Approval: Fueling Bullish Momentum for VET's Chart

VeChain’s US Patent Approval: Fueling Bullish Momentum for VET’s Chart

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  • 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.

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.

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.

Source: World of Charts on X

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.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: [email protected] Phone: +49 160 92211628