Why is VeChain’s (VET) price so high?

The overall market is showing signs of strength with Bitcoin (BTC), which retests the $25K mark, and altcoins trading mostly in green. The VeWorld self-custody wallet, which was released on February 20, saw a significant increase in the VeChain price (VET).
VeWorld Launched by VeChain
The VeChain Foundation is planning many innovations for this year. One of these is the newly created wallet. This wallet is expected to offer customers a wide variety of benefits. According to the foundation, the wallet will improve the user experience in the VeChain ecosystem. The wallet has a long feature roadmap, which indicates that it will continue to evolve with future updates.


The wallet will allow users to create and import wallets, manage their cryptocurrency portfolios, securely transact with decentralized apps (DApps), send or receive cryptocurrency, and use a Ledger Hardware wallet to manage digital assets. This development comes on the heels of VeChain passing 2 million addresses.
The VeChain team was quoted saying:
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VeChain’s development has been rapid since we moved, and we expect it to continue growing in the months and years to come.

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VeWorld Self Custody Wallet Details
The wallet will include a carbon calculator, which will allow users and businesses to calculate their carbon emissions from their activities. There are also direct fiat on ramps, native NFT and DEX integrations, bridge connections, and many other integrations.

According to the announcement, VeWorld’s online wallet version will soon be available for download at However, the plans are to offer desktop and mobile versions of the wallet in the third quarter. Customers will have more control over how they manage their assets.
According to CoinGape’s crypto market monitor, the current price of VeChain is $0.032, which is an increase of 12% in the past 24 hours and a huge jump of 41% the last seven days.
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