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- VeChain will unveil a new feature that will enable users to manage their wallets with Web2 social identity, including emails.
- Meanwhile, the VeChain Renaissance upgrade is expected as the team seeks to achieve greater decentralization, new validator opportunities, and modified VTHO tokenomics.
VeChain (VET) unveils an interesting addition as its latest feature enables users to create and manage wallets using Web2 social identity such as emails, socials, etc.
According to a demo video shared by VeChain’s Vineet Singh, users can now copy product keys or export account seed phrases. They can also add a passkey to secure their accounts.
A fantastic new feature for the VeChain ecosystem 👏 Now you can create/manage wallets as easily as logging in to your social platform of choice. Our goal is putting Web3 apps in the hands of millions. Innovations like these take us a step closer.
GG, @agilulfo18! $VET https://t.co/Aaa9CN3DHl— VeChain (@vechainofficial) December 19, 2024
Meanwhile, this significant addition comes as VeChain prepares to upgrade its VeChainThor holistically through a technical roadmap called VeChain Renaissance.
The Renaissance Upgrade
According to reports, the VeChain Renaissance generally seeks to achieve two main objectives – Reimagined Tokenomics and Technological Equivalence. A complete realization of this upgrade would enable greater decentralization, new validator opportunities, and Modified VTHO Tokenomics.
Under technological equivalence, VeChain seeks to ensure easy communication with other networks by meeting the standards of the industry. As we reported earlier, the Ethereum Virtual Machine (EVM) and JSON-RPC are currently marked as the standard of communication, and finalizing this holistic upgrade would trigger ease of integration, cross-chain, developer adoption, and institutional or enterprise integration.
We have delivered some incredibly innovative tools to date, from our unique two-token model to fee delegation that abstracts away the need for users to hold crypto assets. By opening our blockchain to other EVM-chains, we offer our unique selling points to the market, and benefit from innovations elsewhere.
Despite these significant additions, VeChain’s native token, VET, has declined by 9% in the last 24 hours and 20% in the last seven days. However, its 30-day and 90-day gain remains positive, with a 41% and 93% surge, respectively.
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Analysts Delve Into VeChain’s (VET) Price Analysis
According to an analyst identified as UNO 1, VET is significantly undervalued, especially with the recent groundbreaking partnership deals with the likes of UFC, Kuehne + Nagel, BMW, Walmart, Haier, and Shanghai Gas. As we highlighted earlier, he believes that the dominance of the asset in the Real World Assets (RWA) industry has not yet shown in its price.
Designed for supply chain management, utilizing a unique dual-token system and a Proof-of-Authority consensus mechanism to enable fast, secure tracking of physical goods throughout their lifecycle, making it ideal for businesses looking to verify authenticity and monitor product movement within complex supply chains, unlike many other general-purpose blockchains.
For World of Charts, VET is forming a bullish pennant pattern that could position it for an explosive run. Meanwhile, analyst Michaël van de Poppe believes that a current consolidation of the asset is healthy.
Also, the uptrend has not yet started, as 2025 could be a huge year for the asset.
$VET is ready to continue moving. It has seen a substantial move upwards as, fundamentally, the ecosystem is thriving. As we can see, those periods often conclude with a period of consolidation. Overall, the uptrend has barely started, and as VeBetter is the cornerstone and quickly expanding, I expect we’ll see a strong 2025 for the entire VeChain ecosystem.