VeChain CEO predicts that VET will be bigger than Ethereum

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Last Updated on 26 July 2022 by CryptoTips.eu

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VeChain CEO Sunny Lu said in an interview earlier this week that he thinks that VET could grow bigger in terms of market capitalization than Ethereum. This notable statement, Ethereum is the second largest crypto in the world behind Bitcoin, comes after VeChain already recorded a fantastic 2020.

According to Sunny Lu, VeChain’s growth is due not only to the fundamental strength of the small altcoin, the size of its legion of fans on various social media channels, but also to the number of transactions that VeChain’s blockchain can execute.

Advertentie.

360 million transactions

He said:

In 2019, if we look at the transactions numbers, we are talking about 36 million. And in 2020 we almost make 100,000 transactions per day. And if we keep that kind of speed, we are talking about 360 million per year. I am not saying that today we reached mass adoption, you can call the entire space a casino, fine, but given a couple years if we kind of keep this growth rate at least VeChain not gonna be a casino.

Confidence in an altseason

While the Bitcoin price has stagnated between $ 9,000 and $ 10,000 for a while since its halving in May, many altcoins seem ready to take the place of the most famous cryptocurrency in terms of media attention. Especially Cardano, Chainlink and VeChain seem to have a patent for this in 2020.

According to VeChain CEO Lu, the altseason, the growth that the smaller coins have shown for a few weeks, is far from over.

There was also news this week that the American part of Binance, the largest crypto platform in the world, now allows VeChain trading. Another serious boost for the small coin.