VeChain (VET) Holders’ Strategy: Continuing to Invest in a New Cryptocurrency Over VET? The Logic Explained

8 months ago 6

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VeChain (VET), the cryptocurrency ranked 42nd by market capitalization, has experienced considerable growth since the beginning of the year. Over the past four weeks, VET’s value has surged nearly 90% going from $0.026 to $0.050. Investors who held VET during this rally recorded considerable gains.

However, more recent investment trends suggest that VeChain has lost its charm among investors, who have since flocked to new altcoins like NFT Finance (NFTFN) that offer a higher growth potential. Instead of holding VET, crypto traders and investors are preferring to invest their capital in NFTFN in a bid to maximize their profits.

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Investors Dumping VET For NFTFN?

Data from CoinMarketCap shows that VeChain’s recent rally added nearly $1 billion to its market capitalization in March 2024, bringing it to a whopping $3.3 billion. But in an interesting turn of events, VeChain’s daily trading volume has taken a 43% hit over the past two weeks, going from $137 million to $78 million. The dramatic decline in VET’s trading volume shares a glimpse into the depleting interest of investors.

Unlike mainstream cryptocurrencies like Bitcoin and Ethereum, VeChain caters to a specific niche: the supply chain sector. When combined with its focus on enterprise facing solutions, we can see why its utility doesn’t resonate with retail investors in the broader cryptocurrency market. The lack of retail investor base has a considerable impact on VET’s liquidity when compared to other altcoins.

VET Holders Betting On NFTFN

Unlike VeChain, NFTFN offers consumer facing decentralized finance (DeFi) solutions for the non-fungible token (NFT) market. As a pioneer in the web3 fintech sector, NFTFN aims to address the challenges in the crypto market, which includes lack of liquidity, risk management tools and the overall inaccessibility to blue chip NFTs.

NFTFN’s strong fundamentals and unique selling propositions have generated significant interest in its ongoing presale. Crypto enthusiasts are eagerly lining up to buy this lucrative token at a presale price of just $0.025 (supply limited to 1 billion tokens).

Partnerships With Industry Titans

NFTFN boasts an impressive list of investors who have raised over $500k for this innovative project. This includes Polygon founder Sandeep Nailwal, Alpha Wave Global, Chingari, and Sigurd Ventures among several others. NFTFN has also forged strategic partnerships with industry titans including Polygon and Binance Smart Chain (Blockchain Partners), Google Cloud Platform (Cloud Partner), OpenSea and BitsCrunch (Pricing Partners) etc.

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