CMC: Investors Are Playing VET and These Altcoins in a Bear Market!

VeChain (VET) has had great success recently, ranking among the top 10 projects with increased participation on CoinMarketCap (CMC).

VeChain (VET) reacts to success

VeChain (VET) participation greatly increased between July 22, 2022 and July 28, 2022. This has helped VeChain rank as the sixth largest crypto project with participation growth in CMC. Other projects ahead of VeChain include DeFiChain (DFI), Metaegg (MEGG), FlareToken (1FLR), Contracto (LOCK), and Bifrost (BFC).

This achievement sparked great joy among VeChain supporters, who took to Twitter to celebrate. Interestingly, the VeChain Foundation, the research and development unit of the network, also joined the celebration. “It is great to see VeChain in the top 10 projects with engagement growth on CoinMarketCap,” the VeChain Foundation wrote on Twitter. The company also assured the community that it will continue to grow beyond its current state. VeChain shared the following on Twitter:

It’s great to see VeChain in the top 10 projects with engagement growth on CoinMarketCap. We are growing fast and with our new European Headquarters and Technology Center we will only grow faster than here, both in community and technology.

VET’s market cap exceeds $2.2 billion

Indeed, VeChain has been experiencing significant growth lately, as you follow on Kriptokoin.com. Alongside the number of partnerships the company has announced recently, the native cryptocurrency VET has also seen positive growth. Yesterday, VET’s market capitalization hit over $2.2 billion.

With its latest moves, VET has become the 33rd largest cryptocurrency by market cap. According to data from CoinMarketCap, at the time of writing, the price of the cryptocurrency fell 2.58% to $0.02958. The market cap of the altcoin project fell to $2.14 billion.

Wide adoption of VeChain solution

VeChain has gained quite a reputation in the Blockchain market since its launch. The company’s Blockchain solution can be used in healthcare, supply chain, etc. It has been widely adopted in various industries, including Attwood Import Export TheCryptoBasic, Cambodia’s largest distributor of spirits and beverages, said it is using VeChain to combat counterfeit products.

VeChain has recently become the official Blockchain partner of mixed martial arts organization UFC. VeChain founder Sunny Lu said, “This is just the beginning of a long-term partnership with the UFC. We look forward to changing the world together,” he said. Additionally, Sunny Lu recently shared, “VeChain is determined to change the world with its technology.”