VeChain (VET) achieved a major feat recently by ranking among the top 10 projects by engagement growth on CoinMarketCap.
Between July 22, 2022 and July 28, 2022, VeChain’s engagement soared massively. This contributed to helping VeChain to rank as the sixth-biggest crypto project by engagement growth on CMC
Other projects that ranked ahead of VeChain include DeFiChain (DFI), Metaegg (MEGG), FlareToken (1FLR), Contracto (LOCK), and Bifrost (BFC).
VeChain Reacts to the Feat
The feat sparked huge jubilation among supporters of VeChain, who took to Twitter to celebrate. Interestingly, the VeChain Foundation, the research and development unit of the network, also joined in the celebration.
“Great to see #VeChain in the top 10 projects by engagement growth on @CoinMarketCap,” VeChain Foundation said on Twitter.
The company further assured the community that it will continue to grow beyond its current state.
“We’re growing fast & we’ll only grow faster from here, both in community & technology with our new European Headquarters & Technology Center,” VeChain said.
Great to see #VeChain in the top 10 projects by engagement growth on @CoinMarketCap!
We’re growing fast & we’ll only grow faster from here, both in community & technology with our new European Headquarters & Technology Centre.
Follow us on #CMC! https://t.co/dplR793El0 $VET https://t.co/FjsP8UJtHM
— VeChain Foundation (@vechainofficial) August 4, 2022
VET’s Market Cap Topped $2.2 Billion
Indeed, VeChain has been experiencing significant growth in recent times. Aside from the number of partnerships the company has announced recently, its native cryptocurrency, VET, has also recorded positive growth.
Yesterday, VET’s market cap spiked above $2.2 billion. The move saw the coin become the 34th-largest cryptocurrency by market valuation.
At the time of writing this line, the coin’s price is down 3.2% to $0.029 and its market capitalization had also fallen to $2.12 billion, according to data from Coingecko.
Widespread Adoption of VeChain’s Solution
VeChain has earned quite a reputation in the blockchain market since it launched. The company’s blockchain solution has been widely adopted across various industries, including health, supply chain, etc.
As reported by TheCryptoBasic, Cambodia’s largest alcoholic and beverage distributor, Attwood Import Export, said it had tapped VeChain to tackle fake products.
VeChain recently became the official blockchain partner of mixed martial arts organization UFC.
“This is just the beginning of a long-term partnership with UFC. We are looking forward to changing the world together,” Sunny Lu, the founder of VeChain, said.
In a statement shared recently by Lu, VeChain is committed to changing the world with its technology.