The price of altcoin VeChain (VET) has increased by nearly 10 percent after signing a long-term partnership with the world’s largest mixed martial arts firm UFC. As a result of the partnership, the transaction volume increased significantly, reaching 120 percent. Here are the details…
Popular altcoin VET and UFC agree
VeChain and UFC agreement will improve the marketing base for both brands. Additionally, VeChain will gain access to key UFC assets, including live events, broadcast features and in-arena promotion, and original content available on UFC’s popular digital and social channels. The VeChain Foundation said in an official announcement on June 9 that they have signed a $100 million marketing partnership with the UFC. As part of the partnership, VeChain gains extensive access to key UFC assets and brand visibility through major TV broadcasts of UFC events in 175 countries. Sunny Lu, VeChain co-founder and CEO, used the following statements:
VeChain is one of the fastest growing sports to raise awareness that Blockchain technology is critical to achieving big global goals like sustainability. It is a historical moment when they joined forces.
UFC senior vice president of global partnerships Paul Asencio, in partnership with blockchain pioneer VeChain, aims to promote the advantage of Blockchain technology in protecting the environment for future generations. In addition, VeChain will showcase the branding of UFC in the match arena and “UFC Fighting Deck”. VIP will create sweepstakes promotions. The VeChain brand will be visible in the match during the UFC 275: TEIXEIRA vs PROCHAZKA event in Singapore on June 11.
Will there be a huge movement in VET price?
VeChain (VET) price rallied after the announcement and expects more price action as price action and social sentiment have now improved. The relative strength index (RSI) is moving strongly at 52 and the region, according to analysts. Also, the price is currently moving along the 9-day MA. It is receiving support at the 50-day MA, which is moving upwards as a result of significant trading volume. Therefore, according to experts, the price of VeChain (VET) could rise significantly from current levels.
VET is currently trading at $0.0311, up 1.3 percent. VET rallied from $0.0304 to $0.0329 in 24 hours. The cryptocurrency has fallen by 1.4 percent in the last 7 days, while gaining 4.6 percent in 14 days. The coin has seen a 20.6 percent drop in the past month. VET set its latest record high at $0.28 on April 19, 2021.
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