VeChain (VET) is poised to conclude February on a high note, achieving its strongest monthly closure to date. Based on data from CoinMarketCap at the time of this report, VET has risen by 4.05% in the past 24 hours to reach $0.05051. In the last month, VET has surged by over 80%, marking its highest monthly performance since its initial entrance into the mainnet market back in 2018.
Reaching a significant milestone
In a significant stride towards its sustainability goals, VeChain has unveiled its latest initiatives, introducing the VeBetterDAO platform aimed at promoting sustainable innovations.
VeChain designed VeBetterDAO to serve as a facilitator for a decentralized application (dApp) ecosystem focused on sustainability across various industries. The platform will offer incentives to users, representing an evolution from its previous Web3 for Better Whitepaper introduced during its collaboration with the Boston Consulting Group (BCG) last year.
To establish an autonomous operational model for this new platform, VeChain has introduced two new tokens, $B3TR and $VOT3. As part of the testnet launch of VeBetterDAO, early participants will receive an airdrop of the $B3TR token.
VeChain has been actively expanding its presence in the sustainability sector, forging notable partnerships and introducing innovative solutions over the past few years.
Potential for VeChain to revisit its all-time high?
VeChain has demonstrated strong bullish price movements in recent months, drawing renewed interest from investors. Surpassing its previous best monthly performance could potentially pave the way for VET to retest its previous all-time high (ATH) of $0.2782.
While the current value of the coin remains a considerable distance from this milestone, the optimistic market sentiment surrounding Bitcoin’s price surge to $60,000 could potentially lead to a significant upswing benefiting VET in the long run.