VeChain launched VORJ, a no-code Web3-as-a-Service platform.
VET’s price action favored investors, but CMF and MFI were bearish.

VeChain [VET] has witnessed a drop in its NFT stats over the past 30 days. Santiment’s chart revealed that VeChain’s total NFT trade number and USD trading volume declined. In addition, the number of unique addresses purchasing less than $1,000 worth of NFTs has also declined in recent weeks.

Source: Sentiment

Realistic or not, here it is VET’s market cap in terms of BTC

This may change the scenario

However, VeCHAin’s NFT ecosystem can flourish again with the latest launch of VORJ, Vechain’s ‘Web3-as-a-Service’ platform.

VORJ is a no-code Web3-as-a-Service platform that allows anyone to create, deploy and use smart contracts on the VechainThor blockchain. This latest launch can greatly help VeChain in the NFT ecosystem. In addition, VORJ also comes with NFT APIs, which provide aggregated data for NFT collections and tokens.

State of vocational education and training in Q2

VET investors got off to a comfortable start in the second quarter of 2023 as the token price rose significantly. From CoinMarketCap, the price of VET is up more than 4% in the past seven days. At the time of writing, VET was trading at $0.02599, with a market cap of over $1.8 billion.

Source: Sentiment

Recently, the demand of VET in the derivatives market has increased, which was also an optimistic signal. VETERINARY SURGEONThe token’s trading volume was also relatively high, indicating a greater investor interest in trading the token.

Nevertheless, the weighted sentiment of VET has drifted to the negative side in recent weeks, indicating that negative sentiment prevailed in the market for VET.

Will growth see a roadblock

A look at VET’s daily chart revealed that quite a few market indicators were in favor of a sustained uptrend. For example, the Relative Strength Index (RSI) registered a rebound and moved further away from the neutral 50 mark.

Source: TradingView

How many Worth 1.10.100 VETs today?

The data from the Exponential Moving Average (EMA) Ribbon indicated the dominance of bulls in the market as the 20-day EMA was above the 55-day EMA. VETERINARY SURGEONThe Bollinger Bands suggested that the token’s price was entering a slightly higher volatile zone, further increasing the likelihood of an increase.

However, the Chaikin Money Flow (CMF) suggested otherwise when it fell. The same was true for the Money Flow Index (MFI), which declined marginally.

This post VeChain [VET] teetering in NFT space – could this launch change things

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