VeChain’s VET Eyes Bullish Breakout as VeBetterDAO Prepares for Mainnet Launch

• Analyst Clifton Fx signals a bullish breakout for VeChain, targeting a 34.26% price increase.
• VeChain’s VeBetterDAO mainnet launches on June 28, enhancing decentralized governance and sustainability.
• Critical transition steps for VeBetterDAO include a snapshot on June 23 and mainnet rewards claimable from July 8.

VeChain’s crypto token has signaled a potential bullish breakout. Crypto analyst Clifton Fx has noted that the crypto has been trading within a falling wedge pattern in its two-day chart. The analyst notes that this pattern is a bullish indicator, and hence, he eyes a possible upside surge in price.

As of this writing, VET’s value is $0.03498, with a daily trading volume of $58,856,908. VET has seen a 4.75% rise in the last day. Besides, an analysis of Clifton Fx’s chart for VET reveals key levels and trendlines.

Furthermore, the chart suggests that a confirmed breakout requires increased trading volume and solid bullish candlesticks. This aligns with VeChain’s ongoing efforts to enhance its ecosystem, mainly through the upcoming launch of VeBetterDAO’s mainnet, as announced in their blog post.

VeBetterDAO, VeChain’s decentralized governance and sustainability initiative, will transition from testnet to mainnet on June 28, 2024. This move follows a successful testnet phase that saw engagement. 

Over three months, VeBetterDAO attracted 18,000 B3TR holders and generated more than 232,000 transactions, showcasing the potential of incentive-based, gamified applications.

Critical dates for VeBetterDAO’s transition include the conclusion of testnet voting on June 16 and the final window for claiming testnet rewards from June 17 to June 22. A snapshot of testnet token activity will be taken on June 23, with the testnet pausing for mainnet deployment shortly after.

On June 28, testnet tokens will transition to the VeChainThor mainnet. Users will receive their mainnet B3TR balances and GM NFTs. From June 28 to June 30, users are encouraged to swap B3TR for VOT3 in preparation for the first mainnet voting round, starting on July 1. The first round of mainnet rewards will be claimable on July 8.

This transition marks a milestone for VeChain, reinforcing its commitment to sustainability and decentralized governance. The launch is expected to enhance VeBetterDAO’s features, providing new opportunities for participation and governance within the VeChain ecosystem.