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According to the latest update from VeChain Official, VeChain’s treasury report for the first quarter of 2024 shows a strong financial position totaling $550,972,484.57. The report highlights VeChain’s significant financial growth and stability in the third and fourth quarters of the previous year. Treasury assets increased significantly from $264 million to more than $440 million, showing a strong upward trend.
The approval of the BTC ETF in the first quarter of 2024 has had a positive impact on the cryptocurrency market, with institutions and investors showing great interest in the future of blockchain technology. VeChain’s financial report, shared in a tweet by VeChain Official, highlights this trend with a strong balance of $550,972,484 at the end of the first quarter.
VeChain continues to lead the way in real-world blockchain implementation. The organization’s commitment to transparency since 2017 has included quarterly reports detailing its financial position. According to CoinMarketCap, the price of VET at the time of writing is $0.02953, reflecting a decline of 5.43% over the past day and 17.80% over the past week.
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