VeChain Development Soars 520% as VET Eyes New All-Time High in July

VeChain has achieved a significant milestone by obtaining a MiCAR license, positioning itself as one of the first enterprise-grade blockchains.VeChain’s VET token has gained 7.5% in price, crossing $0.02675, with its market cap surpassing $2.3 billion.Enterprise-grade Layer-1 blockchain network VeChain has attained strong milestones with a staggering 520% development activity growth. As a result, it has outperformed some of the top blockchain networks like BNB Chain, Algorand, Hedera, MultiverseX, and much more.Source: Chain BrokerVeChain demand among Wall Street players has been increasing as well! Amid tightening global regulations, financial institutions face mounting pressure to deliver transparent and auditable data. VeChain’s compliance-focused blockchain has emerged as an essential solution, enabling the shift toward accountable, data-driven financial systems, as highlighted in our previous report.On the other hand, VeChain has reached a significant regulatory milestone by obtaining a MiCAR (Markets in Crypto-Assets Regulation) license. This achievement positions VeChain as one of the first enterprise-focused blockchains to comply with the European Union’s new crypto asset regulations.VeChain Draws Attention For “Startgate” Protocol UpdatePopular crypto analyst Michaël van de Poppe has highlighted VeChain’s growing momentum as the platform approaches the launch of its highly anticipated “Stargate” protocol update.The Stargate upgrade marks a pivotal step in VeChain’s “Renaissance” phase, aimed at advancing the network’s scalability, governance, and interoperability. A key feature of the update is a revamped staking model, which alters the distribution of VTHO tokens among VET holders and validators, as reported earlier.According to Michaël van de Poppe, a notable development for VeChain is the appointment of UFC President Dana White to its advisory board. This strategic addition brings a globally recognized figure with significant brand influence into the blockchain ecosystem.VET Price Action AheadAmid the broader crypto market recovery, the VeChain (VET) price has surged 7.5% today, trading at $0.02675, with its market cap crossing $2.3 billion. Also, the daily trading volume for VET has surged 34% to more than $50 million. Moreover, as per the Coinglass data, the VET open interest has surged 11.4%, surging past $74 million, highlighting strong trader interest.According to technical analysis by Michaël van de Poppe, VeChain is holding strong at a crucial historical support level. The chart highlights a green zone marked as the “higher timeframe support level test,” which has consistently drawn buyer interest, first in mid-2023 and again in early 2025.Source: Michael Van de PoppeThis zone continues to act as a reliable accumulation range. Additionally, a dashed resistance line around $0.070 marks a price level where previous upward rejections occurred, indicating a potential re-test.Along with these structural patterns, the Relative Strength Index (RSI) remains near 50, suggesting neutral momentum with potential for upward movement.