WOW VECHAIN DID SOMETHING ABSOLUTELY INSANE! | DAILY VECHAIN UPDATE | CRYPTO NEWS | VECHAIN NEWS
Can i please ask you guys to smash that like button and hit the red subscribe button, if you havent already, this does help with the channel tremendously and also keeps me motivated on making videos for you guys, but with that being said, lets jump right in todays Content all right guys before i begin, i would like to say the disclaimer anything on this channel should not be taken as financial advice, because i am not a financial advisor cryptocurrencies are super volatile, so please do your own due diligence and research before investing in these Markets all right, if were looking at the overall crypto market cap today, guys you guys, can see we are currently sitting at 2.37. Trillion dollars were up three percent in the last 24 hours. Meanwhile, btc dominance is currently sitting at 40 percent. Btc dominance is a little off on coin gecko, but to be exact as recording this video btc dominance is currently sitting at 41.6 percent, but if we are looking at the overall markets, guys were seeing some major major green across the board, especially in the last 24 Hours and in the last seven days you guys can see, majority of the altcoins are up double digits and solana is going absolutely nuts guys its up 85.4 percent in just the last seven days. So let me know in the comment section below, if you guys want me to cover solana and ill, bring you guys just that, but overall markets are looking beautiful, but today i want to cover none other than v chain, because v chain is doing some very, very Interesting things, as you guys can see, uh vegans, currently trading at 14.
5 cents were up. One percent in the last 24 hours in usd comparative were also down 1.1 percent in bitcoin comparative in the last 24 hours, reaching current rank on coin market cap and on coin gecko is still at that top 20th spot market cap right now is 9.75 billion dollars. Meanwhile, 24 hour trading volume is currently sitting below a billion dollars and were currently sitting at 915.2 million dollars. Zooming out and looking at the bigger picture you guys can see were still up 814 percent in the just the last one year alone and in the last 30 days guys were up 70.2. So everything is looking very, very nice for v chain in my personal opinion, but today i want to share some very massive news that came out of v chain, and this is as reported by china, news pwc, which is one of the vechains partner in the china International fair for trade and services has officially announced that the air trace is powered by v chain. It will serve pwcs clients for traceability solutions. We are proud to support this major initiative. Absolutely insane guys. Ive been saying this for the longest time. If you are um, you know a viewer on my channel if youre a regular viewer on my channel, you guys know how much of a believer i am in v chain because guys, you know, aside from the investment aspect to it, you know v chain, actually has A working product which i always like, sharing with you guys and let you know reminding you guys its just, not an ordinary coin – that people are just investing in to earn some.
You know uh gain off of you know in the future. It is, you know, a project that is, you know, bringing mass adoption to this new space um. You know this revolutionary space, which is a cryptocurrency space, and a lot of you know. Institutional investors are starting to accept it as an asset class, and projects like v chain are the ones that are going to shine that are bringing mass adoption because um, you know they are working with some of the biggest organizations in the world already um, just to Name a few: if this is your first time uh, you know, walmart is one of them: walmart, china. You know starbucks, h, m, bmw and the list goes on and on, and this goes to show where this blockchain industry is really going. But if we are looking at the price of v chain right now, guys you guys can see we are back. We are back in this point of 50 fibonacci retracement level, and i have been mentioning to you guys how important this level really is for reaching, because once we break this level, you know break above this level of resistance. Guys, which is at this 15.5 cents mark, were still unable to break above here uh. One thing that you know we do need uh for a reaching to happen is we need more buying pressure to kick in right now, as i mentioned earlier in this video, that we are sitting below a billion dollars so uh, the buying pressure is kind of not On our side right now, but i would not be surprised as btc dominance decline.
You know um and altcoins start to you know outperform bitcoin. I would not be surprised if we break above this level of resistance. You may be asking. Why is this level of resistance? Really important because this level of resistance has been playing out very crucially, as you guys can see after this initial elon, you know elon news that we saw uh happen uh earlier this year. You know when he came out and said uh. He will no longer be accepting bitcoin along with the china flood. We saw this market crash happen and you know then we did see reaching try to have some sort of recovery and um. You know we were unable to break above this uh level of you know, resistance and this time around, i believe it is going to happen because the last time we were above this level guys was may 19th right before this major uh. You know price correction that we did see over the past uh. You know two to three months where we saw all coins consolidate, but i believe this is the start to the next leg up and some of the altcoins are very, very close to new or all time highs, or some have already touched a newer all time high. So you guys get the picture as to what is happening within the cryptocurrency markets as of now, and you guys can see this level of support really, you know when it was the level of support it did play out.
Very importantly, so you guys get the picture. How important this level really is, and once we break past this level of resistance, guys at this 15.5 cents mark, then i believe you know we are off to the races, because if we are bringing out the measuring tool guys, you know from the all time high Which was set on april 17th of this year um, you know we are down about as recording this video um. You know 48.84 guys and you guys get the picture as to how fast the markets really do start moving up when they really do coil up, and you know i would not be surprised for us to get back into this 38.2 and onwards very, very fast, as We break out of this point 50, fibonacci retracement level, so so far, so good one thing that we want as v chain holders right now is: we want more buying pressure to kick in thats. Definitely something we do need for us to get things rolling and you know basically get the ball rolling and then um. You know we will start uh talking about new or high. So as of now, my still you know next target right now is for v chain to break above this level of resistance, and that would mean we would need about uh roughly about eight point. Five percent move towards the upside for us to be able to reach this target and um. You know everyone wants to hear this every day a lot of people are coming out and you know especially the v chain community, its you know.
The one dollar price target is such a psychological. You know price point: everyone wants v chain to hit a dollar and, as a matter of fact, you guys know, especially my regular viewers that have been with me. Since you know the day, one of my channel when i was covering v chain literally at its absolute bottom um, and i still believe i still still strongly believe that we do have everything it takes for us to reach that dollar mark. Let me put that into perspective, so right now guys you guys can see um. You know our market cap right now is basically 10 billion dollars. So in order for v chain to hit um, you know im sorry yeah. So, in order for v chain to hit about a dollar uh, you know we would need a circulation supply im. Sorry, the market cap to be roughly around that 70 billion dollar mark, so that basically initially means that we need v chain to hit a 10 im. Sorry, a 7x from its current price point. Is that possible? Very, very! You know high likelihood of that happening, because let me share some personal thoughts with you guys, um, you know, a lot of analysts are calling that this is going to be. You know the start of the parabolic ball cycle that we did see back in 2017 and you know if you are our og crypto investor lets say you were here back in 2014 17 and you saw these bull cycles happen.
You know exactly what goes on when the markets really do start to move up very very fast. You know, markets move up. Super super fast and projects like v chain are going to be the ones that a lot of people have eyes on, because at the end of the day, you do need to have a project that has you know a lot of eyes on a lot of hype. On and reaching by far is one of the projects, and you know obviously tick tock is bringing a lot of hype. Tick tock is another social media platform. Uh that you know is on the rise and a lot of people are talking about cryptocurrencies on there and b chain keeps on getting mentioned, and, aside from just that, you know marketing aspect to it. You know it has a working product guys and you would be surprised the in you know the sophisticated investors are accumulating behind the scenes and long term perspective guys. Yes, this both cycle. I would not be surprised if markets really do start moving up very, very fast for v chain to hit a dollar, but please keep this in mind. You know especially guys, especially if you are a new investor. You know markets can go up very very fast. You know price predictions could be specific price predictions. We could say you know uh, we could see v chain go to a dollar, but at the end of the day i always like reminding you guys this.
We need to keep an eye on the king and the king is bitcoin, because bitcoin runs the market. Now you may be asking why? Because guys, bitcoin is the king and literally every crypto asset, except you know, stable coins are very much correlated with the bitcoin price. So lets say: bitcoin decides to have um, you know uh a correction which it could anytime. No one knows if someone comes up to you and tells you bitcoin is not having no correction um, and you know its just going straight to the moon. Im. Sorry to say that is a lie: thats very unrealistic because at the end of the day, bitcoin is unregulated and there are some big big major whale accounts that can manipulate the bitcoin price, which can cause the bitcoin a price to tumble towards the downside. What happens in that case guys for v chain, cordano solana or any project that you can name? They are going to be negative negatively affected. So as soon as bitcoin has you know a market manipulation such as this guys or uh. You know price correction towards the downside. Then everything gets invalidated. So please keep that in mind. So lets look at bitcoin price right now. Bitcoin is a f above this 50 000 price point once again, guys and um. You know if we reach 51 000. Last time. We were above this 51 dollar price point uh, which we already did guys, but last time we were above fifty.
One thousand dollars was about around may 14. So right before this initial price correction – and i have been saying on my channel that i do see – bitcoin hitting newer all time highs before we do see an altcoin – a rally occur, but something very interesting is happening as we speak. Money is not flowing out of the you know: cryptocurrency markets, its staying in the markets, but guess whats happening to the btc dominance index. Guys, btc dominance index is dropping very very sharply, and this is why we are seeing altcoins outperforming the bitcoin price over the last seven days and its not coming as a surprise to me right now at all um. So you know, in order for us to have the parabolic type of altcoin rally, i believe we do need to break below this uh. ‘.56 percent uh. You know btc dominance. Ah, do i see that happening? You never know you can, you know, never say never uh, but i dont know something is telling me we are going to see bitcoin start climbing up back up and you know start climbing towards this level of uh resistance at the 60k level um, and that would Definitely mean if that happens, we could see uh bitcoin dominance climb back towards the upside and um. You know, i believe, once bitcoin tops out and hits its a newer all time high. Then we will see the altcoin rally occur, but you never know what can happen, but that is it for todays update, guide, uh guys.
I still do believe that v chain uh is going to break above this level of uh. You know resistance very very soon. We do need more buying pressure, so thats something to keep an eye out on and um. Please guys one thing before i want to end this video, especially uh. You know to my viewers, because if you landed on my channel guys, you know i care about each and every one of you guys, and i want you guys to maximize your. You know growth potential in this market, so one advice that i can give you guys is lets say you know we do have a massive breakout towards the upside this bowl cycle in the next coming month. Um, please guys, do not get greedy. One advice that can i give you guys and uh trust me guys. This advice will help you guys you do not want to get greedy when it comes to investing whether its cryptocurrencies stocks, whatever you do, not want to get greedy its because as fast as these markets can go up guys thats as fast as thing. You know they can go down because you know markets are manipulated, so you never want to get greedy lets say you are in for the long haul. Yes, but the pro if the profit that you are sitting at is too much that you cannot afford to lose. The best thing would be to scale out, and you know when the market does have a retracement.
You can. You know re accumulate uh into these altcoins that you like, but that is it for todays update guys. Let me know in the comment section below what you guys are doing and what is your strategy right now for v chain? Are you guys accumulating? What is your strategy? Let me know in the comment section below and do not forget to come. Join the telegram group chat guys its free to join a link in the description box below we talk about cryptocurrencies. The latest news and trends revolving around the space and just have a great time at the end of the day, so come join. The group and lets build this community together and also, let me know in the comment section below what other alt coins you want me to cover. I would love to know your thoughts down below and do not forget to like comment share and subscribe. This does help my channel a lot, so your support would be greatly appreciated. Thank you. So much and i love you guys. Stay safe after safety, health and family comes first and everything else absolutely comes later.