New VeChain Addresses Surge to Highest Since 2021 As VET Eyes $0.05

Several projects are recording new milestones as the crypto market continues to flourish amid bullish trends. VeChain is one such project. The blockchain recently attained a new high in the number of new wallet addresses, surpassing its 2021 record. At the same time, the protocol’s native cryptocurrency, VET, is also on the rise.

VeChain is an enterprise-focused blockchain platform that aims to assist in managing and tracking businesses globally through its distributed ledger technology (DIT). The project was launched in 2015 by its CEO and co-founder, Sunny Lu.

New VeChain Addresses Attain ATH

According to on-chain data, the project saw an all-time high (ATH) in the number of newly added wallet addresses between October 23rd and 29th. Between that timeframe, VeChain saw the addition of 57,338 addresses from users. The metric closest to the ATH was attained between late April and early May 2021, when the protocol recorded 51,731 new wallet addresses.

Source: VeChain Stats

Around the time the project saw its ATH, it revealed a collaboration with the global consulting company Boston Consulting Group (BCG). This partnership is geared towards developing blockchain-based solutions to foster sustainability.

That same week, several VeChain users onboarded Coinbase Earn, a learn-to-earn program hosted by the American cryptocurrency exchange Coinbase that allows learners to earn rewards. Participants were rewarded 633 VET coins

In the present, VeChain has introduced more features to its ecosystem, such as its newly added decentralized application (dApp) toolkit. These toolsets have helped to keep the rate at which new wallets are added to increase. The project has recorded 39,319 new addresses added within the past week.

VET Up Over 3% in 24 Hours

The increase in new addresses recorded in the VeChain ecosystem has rubbed off on the project’s native cryptocurrency, VET.

As of the time of writing, VET traded at $0.0254, representing a 3.17% increase in the last 24 hours and a 15.17% increase in the past seven days. In just the past hour, the price grew by 0.68%.