- VeChain’s 3.0 whitepaper sheds light on the way forward for the ecosystem during the year.
- The price action favored the bears, but the on-chain metrics were bullish.
VeChain (VET) recently posted White Paper 3.0, Which highlighted the blockchain ambitions and goals for the coming months.
VeChain said it plans to harness individual influence to unleash its collective sustainability potential. The overall goal of blockchain is to allow people to engage in sustainability every day.
VeChain Read (VET) Price Prediction 2023-24
VeChain way ahead
As mentioned in the document, VeChain plans to be the platform of choice for sustainability. Based on this goal, blockchain has finalized the technical features so that they can be created and prioritized over time.
By the first quarter of 2023, Weechen It will focus on improving support for developers. During this period, it will provide libraries, developer framework, Web3 connectors, infrastructure for Web3 as a service, and a wallet for browser extensions.
In the second quarter of 2023, It will focus on improving end-user engagement and experience. It will launch a mobile version of the new wallet and establish a user portal.
The portal will be a resource for both businesses and the community at large, allowing them to interact with VeChain’s offerings and applications.
VeChainThor’s interoperability with other blockchains, as well as foundation-backed DeFi protocols and NFT markets, will be a focus in Q3 and Q4.
Is the vet in trouble?
While the whitepaper seemed promising for the future of blockchain, the current reality is different. For example, data from DeFiLlama shows that the total value of VeChain decreased by more than 3% in the last 24 hours, which was a concerning factor.
same with veterinary doctorprice performance. According coin market capThe VET price lost almost 5% in the last 24 hours and, at press time, was trading at $0.02338 with a market capitalization of more than $1.6 billion.
realistic or not, here it is VET Market Cap in BTCterms of
Should you be comfortable?
Although previous data suggested a decline in network growth, some on-chain metrics still hold in favor of the bulls. For example, investors remained bullish on VET as its weighted sentiment remained high despite the latest price drop.
The demand for FP in the derivatives market also remained stable; His Binance funding rate increased over the past week. Thanks to VET’s future plans, its development activity has been tilted after March 17.