The entire cryptocurrency market was painted red. While most assets were recording a downfall, some were experiencing a much bigger drop than others. VeChain (VET) was part of the former as the cryptocurrency saw a massive downfall. After witnessing a 31% dip throughout the week, the community is hoping to see the asset pick up pace. This is particularly important for VET as the asset hit an all-time high of $0.2782 about four years ago. VeChain is currently 87% below this peak.
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How Is VeChain Faring?
Over the past 24 hours, VET recorded a drop of 6.24%. At the time of writing, the asset was trading at $0.03324. VeChain has been trading sideways over the last three weeks, creating a range between important milestones.
The market cap of the asset was also swimming in bearish waters. After a 6% drop, the market value of VET stood at $2.69 billion. Meanwhile, the daily volume of VeChain recorded a 20% plunge and the final numbers stand at $63.79 million.
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Mid-February Price Prediction
It looks like VET is all set to see an uptick over the next couple of days. The altcoin will reportedly surge by over 37% from its current price level and reach a high of $0.0459. Data from CoinCodex highlights that the highest price level that VeChain will trade at during that week is $0.04655 following a 39% surge.
This means that VET investors are in for major profits over the next couple of days. The altcoin is slated to bring higher gains if the overall market records recovery. While reclaiming its all-time high seems like a far cry, a slight surge could bring in respite for VET holders.
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