In July of this year, VeChain (VET) applied for trademark registration for a range of financial services, including cryptocurrency trading, issuance of digital assets, and purchasing virtual currencies. This move could significantly expand VeChain's capabilities in financial services, potentially leading to compliance with ISO 20022 standards. Such developments could strengthen VET's position in the trillion-dollar payment system industry, considering the wide range of financial services offered by the company. Possible collaboration with central banks also opens new prospects for VeChain.
The VeChain project has shown growth and optimism in its ecosystem, contributing to an increase in the number of new users and wallets joining the network. The approval of the trademark application is expected to strengthen VeChain's position in the digital payments market. Recently, the price of VET has shown steady growth, increasing by more than 45% over the past month, indicating a positive trend in the cryptocurrency sphere.
Crypto analyst Ali Martinez predicts that VET may enter a consolidation phase similar to the period of 2018-2020. He suggests that in the next two weeks, the price of VeChain could overcome the resistance level of $0.033, and by January 2024, it could rise to $0.077, representing a 150% increase. Another well-known analyst, EGRAG, forecasts a more significant increase of VET by 7500% to a level of $2.3, noting a prolonged downward trend that could lead to achieving record highs seen in 2021.
