{"id":562567,"date":"2020-07-12T15:54:57","date_gmt":"2020-07-12T13:54:57","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=562567"},"modified":"2020-07-12T15:54:57","modified_gmt":"2020-07-12T13:54:57","slug":"binance-report-vechain-vet-delivered-more-than-40-return-in-june","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/binance-report-vechain-vet-delivered-more-than-40-return-in-june\/","title":{"rendered":"Binance Report: VeChain (VET) Delivered More than 40% Return in June"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>VeChain (VET) has had an amazing run in the crypto markets since the mid-March crash.\u00a0<\/strong><\/li>\n<li><strong>These feat has been highlighted in the Monthly Binance Market trading report for the month of June.\u00a0<\/strong><\/li>\n<li><strong>The report states that VeChain (VET) has delivered over 40% in gains in one month.\u00a0<\/strong><\/li>\n<li><strong>At the time of writing this, VET is still on an impressive upward trajectory with a local top of $0.022.\u00a0<\/strong><\/li>\n<\/ul>\n<p>The market action surrounding many altcoins is giving the impression of an altseason. This was explored in<a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-low-social-dominance-a-bullish-eth-btc-pair-alt-season\/\" target=\"_blank\" rel=\"noopener noreferrer\"> an earlier analysis<\/a> that explained how an altseason could be upon the crypto-verse as a result of Bitcoin&#8217;s social <a href=\"https:\/\/en.ethereumworldnews.com\/fading-bitcoin-btc-dominance-could-signal-a-possible-altseason\/\" target=\"_blank\" rel=\"noopener noreferrer\">dominance reducing<\/a> significantly.<\/p>\n<p>Furthermore, Ethereum&#8217;s gains against Bitcoin on the ETH\/BTC pair is indicative of altcoins soon having a chance to thrive in the crypto markets. Evidence of an altseason was also demonstrated by a new All-time high of the ShitCoin perpetual contract on FTX.com.<\/p>\n<h2>VeChain (VET) has Had a Phenomenal Month of June<\/h2>\n<p>One of the altcoins doing particularly well in the crypto markets is VeChain (VET). According to the team at Binance research, VeChain has had a phenomenal month of June delivering over 40% in gains.<\/p>\n<p>The team shared this observation in the <a href=\"https:\/\/www.binance.com\/en\/blog\/421499824684900725\/June-Trading-Report-Whats-Next-for-Boring-Bitcoin\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">June edition of the monthly Binance trading report<\/a> where they explained that large-cap coins were experiencing some sort of stagnation in the crypto markets.<\/p>\n<blockquote><p>Most large-cap cryptocurrencies delivered negative returns, while mid and small-cap cryptocurrencies such as LINK, ADA, BAT, VET, and IOST delivered positive returns. In particular, VET had a phenomenal month, delivering more than 40% return in June.<\/p><\/blockquote>\n<h2>VeChain is Primed for A Successful Month of July<\/h2>\n<p>The impressive performance of VeChain in the month of June is also very much evident two weeks into the month of July. Taking a look at the daily VET\/USDT chart courtesy of Tradingview.com, VeChain is clearly in a parabolic run at its current value of $0.0177.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th.jpg\"><img class=\"aligncenter size-full wp-image-562569\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th.jpg\" alt=\"\" width=\"995\" height=\"511\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th.jpg 995w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th-300x154.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th-770x395.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th-240x123.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th-717x368.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/VETUSDT-July-12th-150x77.jpg 150w\" sizes=\"(max-width: 995px) 100vw, 995px\" title=\"\"><\/a><\/p>\n<p>From the daily VET\/USDT chart, the following can be observed.<\/p>\n<ul>\n<li>Like all digital assets, VET dropped hard during the Coronavirus crash of mid-March from around $0.006 to $0.0015.<\/li>\n<li>The coin has since regained the losses and printed a local top of $0.022 on the 8th of June.<\/li>\n<li>This is a 14.67x move from the local bottom of $0.0015.<\/li>\n<li>However, the parabolic move by VET is due for a correction as seen through an exhausted daily MACD and MFI.<\/li>\n<li>Furthermore, trade volume has reduced and the 50-day moving average provides an area of interest for a bounce around $0.01.<\/li>\n<li>Taking profits might be a wise decision for bulls and waiting for a retracement before deciding to long VET\/USDT once again in the crypto markets.<\/li>\n<\/ul>\n<p>As with all analyses of altcoin such as VeChain (VET), the use of stop losses and low leverage is highly advised when trading VET on derivatives platforms <a href=\"https:\/\/en.ethereumworldnews.com\/huobi-binance-bitmex-top-the-btc-derivatives-market-rankings-on-cmc\/\" target=\"_blank\" rel=\"noopener noreferrer\">such as Binance<\/a>. Additionally, keeping an eye out for any sudden Bitcoin moves could be a good way of gauging the market environment for altcoins such as VeChain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: VeChain (VET) has had an amazing run in the crypto markets since the mid-March crash.\u00a0 These feat has been highlighted in the Monthly Binance Market trading report for the month of June.\u00a0 The report states that VeChain (VET) has delivered over 40% in gains in one month.\u00a0 At the time of writing this, VET is still on an impressive upward trajectory with a local top of $0.022.\u00a0 The market action surrounding many altcoins is giving the impression of [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108073,825],"tags":[115,1119,108091],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/562567"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=562567"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/562567\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562570"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=562567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=562567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=562567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}