In 2024: The most important events that will affect the price of VET crypto

One of the cryptocurrencies that has gained increasing importance in recent years is the VeChain coin (VET). It is one of two native tokens in the VechainThor blockchain. (This blockchain platform aims to optimize supply chain management in various industries.) VET is used on the VeChain platform for transactions, investments and the use of blockchain services. What is the VET Crypto Course dependent?

Technological developments at VeChain

Key factors that influence the price of digital currencies, including VeChain, include technological advancements. At the beginning of 2024, VeChain announced a new Market-as-a-Service. This MaaS solution, a tokenization platform for digital assets without code, represents an important development in e-commerce. The Market-as-a-Service allows its users to sell and transfer NFTs. VeChain informed about its project in March 2024 – at that time it was also announced that the Italian MotoGP team Gresini Racing was the first customer of this revolutionary marketplace.

The announcement of this innovative MaaS solution can have a major impact on the price of VET in 2024. Technological advancements in VeChain can increase trust in the platform, which will likely have a positive impact on the price of VET. Important: However, do not forget that there are numerous other factors that can affect the price of VET. Be careful to make the right investment decisions.

Macroeconomic influences

Investors interested in the VET course should study macroeconomics as it also greatly influences the crypto world. The following events may be important in 2024:

• Geopolitical tensions in the Middle East – in most cases, geopolitical crises lead to uncertainty in the financial markets. A conflict in the Middle East could cause investors to avoid risky investments. These investments include cryptocurrencies – in the event of a major conflict, the price of VeChain could fall;
• Inflation – with high inflation, crypto enthusiasts may also look for alternative investments where their purchasing power can be preserved. Cryptocurrencies could also be used as a store of value. In August 2024, it was announced that inflation in America is slowing down. How will the crypto world react to this? A stable situation on the market could lead to investors investing in innovative solutions such as VeChain (but this is just speculation!);
• FED's opinion on the key interest rate is unclear – FED may change the key interest rate to control inflation. The next FED decision on the key interest rate will not be made until September 18. Analysts believe that the key interest rate will be cut by 0.25% (25 basis points) to 5-5.25% at the FED meeting in September. This interest rate decision will likely affect the crypto market, including the VET price.

Important: In 2024, new collaborations between VeChain and large corporations, especially in the logistics, healthcare and food industries, could also have a positive impact on the VET price.

Conclusion

Not only the latest market trends, but also technological advancements, macroeconomic influences, as well as unpredictable events in the crypto world – there are numerous factors that can influence the VET price in 20203. Crypto enthusiasts who want to invest in VeChain 2024 should monitor these factors in order to be able to react quickly to new events in the market and make smart decisions.

brc/news.de