As the cryptocurrency continues what has been a monumental surge, VeChain (VET) looks to be the focus of the cryptocurrency market this December. Indeed, the asset has been one of the biggest beneficiaries of the ongoing crypto bull rally. Now, all eyes are on the token challenging its 2021 all-time high of $0.27.
Amid its ongoing increase, there is the potential that it will challenge the mark this month. With Bitcoin still eyeing a trip to $100,000 before the start of next year, it could bring forth a market-wide boom. Moreover, there is the belief that the announcement of a new US Securities and Exchange Commission (SEC) chair could propel massive movements in the entire crypto sector.
Also Read: VeChain Surges 153% in November; How High Can It Go in 2025?
VeChain Surges Past $0.062 As All Eyes Turn to Potential December Rally
It has been an unprecedented month for the cryptocurrency sector. Bitcoin led the way, reaching a $99,000 all-time high in late November. That hasn’t been all, as Ripple (XRP) reached its highest price in 7 years, while Tron (TRX) has also set an all-time high.
However, VeChain (VET) may have outperformed them all as the token looks to surge in December. The cryptocurrency is up one than 220% in the last 30 days, according to CoinMarketCap. In the last seven days, it has surged more than 54%, adding another 18% gain in the last 24 hours.
Now, all eyes are on where the token could potentially go, with the $0.2 mark coming into view. The asset’s highest price was $0.27, set in 2021. Amid its record rally, there are experts who believe it could be set to challenge that price before the year is done.
Also Read: VeChain Outperforms Bitcoin, Solana En Route to Monumental Rally
Cryptocurrency analyst EGRAG experts a 3,000% increase to come in the next 100 days. Specifically, he notes that the aset should double its previous landmark record, reaching a $0.63 price at some point next year.
For the asset to reach a $0.2 price in December, it would have to increase another 230% from its currency position. Although not impossible, such a move is highly unlikely. However, it should continue to increase and has a good chance of breaking through the $0.1 mark before the year is done.
The biggest catalyst for further increases is the ongoing sentiment of the market at large. If President-elect Donald Trump announces the appointment of a pro-crypto SEC Chair, all bets are off. That could inspire mass increases across the board.
