Blockchain
VeChain (VET) Surges on ETF Speculation and Blockchain Adoption News
VeChain (VET) is witnessing a surge in both price and investor interest, driven by speculation surrounding a potential VeChain ETF and the platform’s increasing adoption in real-world applications.
On May 27th, the price of VET surged by over 5%, breaking out of a technical formation. This development has sparked enthusiasm among analysts, who anticipate the possibility of a significant price rally.
The buzz surrounding a potential listing of a VeChain ETF is amplifying the excitement, with some analysts suggesting that it could drive the price beyond its previous all-time high of $1.
VeChain Collaborates with Shanghai Environment Exchange for Carbon Management
In addition to its price movements, VeChain is making notable progress in the sustainability sector. The platform recently forged a partnership with the Shanghai Environment Exchange to develop innovative solutions for managing carbon emissions.
This collaboration harnesses blockchain technology to improve transparency and traceability in carbon data, empowering stakeholders to make informed decisions towards a more environmentally friendly future.
VeChain’s Expanding Portfolio of Initiatives
VeChain’s dedication to advancement is further evidenced by the recent launch of “The HiVe” event, which has garnered interest within the Web3 community. Throughout 2023, the VeChain team has consistently provided updates on ongoing projects, underscoring their commitment to innovation.
VET Price Forecast for June
According to experts at Changelly, June is expected to be a positive month for VET, with a projected minimum price target of $0.0415 and a maximum of $0.0464. The average price is anticipated to hover around $0.0435.
While VET still remains notably below its previous all-time high, the favorable market conditions and the continuous development of the project suggest potential for further growth.
Source: fxleaders.com
The post VeChain (VET) Surges on ETF Speculation and Blockchain Adoption News appeared first on HIPTHER Alerts.
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DNA Fund Acquires Coral Capital; Adds $50M AUM in Web3 & Emerging Tech
2024-DNA Fund, the Financial Institution of the future in high-ticket emerging tech and web3 investments, has announced its acquisition of Coral Capital Holdings LLC, an established investment management firm that has previously managed millions in the DNA founders’ personal funds.
As early-stage investors in established Web3 brands and founders of some of the sector’s most notable projects, DNA and its founders have invested in or founded projects such as Tether, EOS, Mastercoin, Bancor, and Hedera Hashgraph. The acquisition will see the DNA Fund manage an additional AUM of over $50 million, which includes Coral’s high-yielde hedge funds and venture funds focused on DeFi, Al, blockchain, and other emerging technology sectors. Some of Coral’s top-performing investments include Near Protocol and Atmos Labs.
Thomas L. McLaughlin, Coral’s Chief Investment Officer, will continue in his role, managing the funds with a unique focus and strategy aimed at maximizing investor returns.
Regarding the acquisition, Christopher Miglino, CEO of DNA Fund, said. “By bringing Coral Capital under our umbrella, we are not only expanding our investment capabilities but also enhancing our ability to offer unique, high-growth opportunities to our clients. Our combined expertise allows us to navigate the complexities of the digital asset landscape and continue delivering value to our investors.”
Thomas L. McLaughlin, CIO of Coral Capital Holdings, added, “Joining forces with DNA Fund is an exciting new chapter for Coral. Our shared vision for leveraging technology to drive financial growth is perfectly aligned. Together, we are set to redefine what’s possible in digital asset investments and deliver superior results for our investors.”
Since its inception in 2021, Coral has delivered consistent returns with innovative strategies, delivering high multiples on the benchmark of the overall market cap of digital assets. Coral’s Flagship fund, initially started as a market-neutral vehicle, was rebranded in 2023 as a discretionary liquid token, surviving a number of high-volatility events, including FTX and Terra.
With a 61.6% return (net of fees) and a maximum annual drawdown of only 11.6% in FY 2022. these funds have outperformed the broader digital asset market. Over a similar period, Bitcoin returned 36.7%.
Through this acquisition, DNA Fund also aims to capitalize on the growing interest from institutional investors and expand into several new verticals over the coming year, including a Bitcoin & Ether Yield Fund, as well as more speculative funds focused on Al, memecoins and microcaps.
The post DNA Fund Acquires Coral Capital; Adds $50M AUM in Web3 & Emerging Tech appeared first on HIPTHER Alerts.
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