- VeChain on Coinbase for New York
- Analyst Forecasts for VeChain
- Decline in Derivatives Market Positions
Coinbase has expanded its offerings by adding VeChain and other digital assets for New York residents. This move has sparked significant interest in VeChain among investors and analysts.
VeChain on Coinbase for New York
Coinbase recently added five new digital assets to its platform for New York residents, including NEAR, AERO, VET, VTHO, and PYUSD (ERC-20). The addition of VeChain on Coinbase New York is a significant event for the platform. Being one of the largest financial centers globally, New York's participation can create strong demand for digital assets. VeChain's founder, Sunny Lu, expressed his joy on social media by posting: 'Hello New York!'
Analyst Forecasts for VeChain
Crypto analyst JayJ3nks recently mentioned on social media that VeChain has broken through the $0.024 resistance level, indicating a bullish trend. According to technical analyses, the next target for VET/USD could be above $0.028. He also noted that VET is trading above the 50 and 200-day moving averages, which is a positive sign. The inclusion of VeChain in New York could attract more organizations and capital.
Decline in Derivatives Market Positions
VeChain has experienced a decline in the derivatives market. Trading volumes in the token dropped by 3.9% in the last 24 hours to $29.24 million, revealing a reduction in trader interest. However, the total trading volume in the derivatives market increased by 9.3% to $16.52 million, which was accompanied by a rise in long liquidations to $6,580.
The recent addition of VeChain to Coinbase for New York residents and positive analyst forecasts create favorable conditions for the cryptocurrency's growth. However, the decline in derivatives market positions indicates uncertainty among traders.
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