Currency Price Analysis_VeChain’s new token B3TR currency price rebounded from the bottom or even reached a new high?
There has been no update on the current situation of B3TR for a while. The currency price of B3TR has been rising steadily recently, and it has even exceeded ATH in one fell swoop. It is worth discussing.
I plan to publish two news articles for discussion. The first article will discuss the reasons for the previous decline in currency prices, and the second article will discuss the reasons for the current rise in currency prices.
Get to the point
Initially, B3TR was distributed through free airdrops, which may be one of the reasons for the continuous decline in currency prices after the launch. In addition, I think there are several other factors that are also influencing factors:
1. There are too few places where B3TR can be traded.
In addition to VeChain's native DEX, the centralized exchange cooperated with OceanEX. Due to OceanEX's past dark history, this caused great commotion in the VeChain community at the time.
2.The quality of projects on VeBetterDAO varies
In the early stages of project operation, it was obvious that some projects were launched just to share the rewards of B3TR and did not really want to promote the concept of sustainable development or the application of blockchain. This made B3TR holders question the operational effectiveness of VeBetterDAO. .
3. VeBetterDAO’s development is stagnant and progress is slow
For a long time, no new projects appeared on VeBetterDAO, leaving B3TR holders to basically vote and receive airdrops every week.
As mentioned in the second point, since the projects on VeBetterDAO have the concept of sharing the pie, there is not much interactive meaning, and even the projects may not redistribute the B3TR airdropped by DAO to users. This makes B3TR holders do not see the meaning of holding B3TR and participating in the ecosystem.
summary
In general, VeBetterDAO at that time felt like an airdrop! B3TR holders cannot see the future of B3TR, which makes everyone directly dump the B3TR airdrop rewards after voting into the market every week, causing the currency price to plummet.
The next article will continue to discuss the reasons why B3TR currency prices are rising today!
※The above content is purely personal sharing and does not constitute investment advice (NFA). Users are advised to DYOR and evaluate their personal risk tolerance.
※The attached picture is taken from OceanEX’s B3TR/VET trading pair
