- Crypto.com teams up with VeChain Foundation to add custody support for VET and VTHO.
- VET price slipped 6% despite the partnership announcement.
- Strong resistance at $0.0268 continues to limit upward moves.
Crypto.com has entered into a partnership with the VeChain Foundation, adding custody support for VET and VeThor (VTHO). The collaboration offers fresh entry points for institutions interested in gaining access into the VeChainThor blockchain, built on the foundations of data transparency, frictionless business collaboration, and fast value movements within business and consumer markets.
The Crypto.com Custody gives institutions and high-net-worth individuals a safe platform. It has insured coverage, governance functionality, and multi-user management, all tailored to suit the needs of registered financial participants. With the new support, institutions can custody and hold VET and VTHO through a secure system designed specifically to meet rising demand for security and compliance in digital asset markets.
Eric Anziani, President and COO of Crypto.com, highlighted the importance of custody services for institutional investors. Sunny Lu, CEO of VeChain, said:
Through this new partnership, we can confidently accelerate our institutional and mainstream adoption strategies using Crypto.com’s world-leading custody services, supported by their robust infrastructure.
VeChain Updates Fee System for Stable Transactions
The VeChainThor blockchain runs on a two-token design. Value transfers are done through VET, and transaction fees are paid through VTHO. In this way, the network is able to maintain stable transaction fees regardless of volatile market fluctuations.
VeChain just improved its fee structure, borrowing lessons from Ethereum’s EIP1559. It dynamically adjusts gas costs and therefore balances demand against cost efficiency. It also makes the network more secure while injecting a deflationary factor into the token economy.
With the addition of Crypto.com’s custody services, VeChain can present its blockchain to more institutions looking for scalable and compliant technology. The partnership aligns with VeChain’s strategy to push adoption across global enterprises that need cost control, transparency, and trust in blockchain systems.
VeChain (VET) Falls 6% Amid Market Pressure
Although the collaboration holds long-term development prospects, the short-term market reaction toward VET has been negative. VET dropped 6% over the last 24 hours, currently changing hands at $0.02370. It has been consolidating within a confined area since July, maintaining support at $0.0216 and resistance at $0.0268.
Technical indicators register downward pressure. VET is priced below its short-term averages, with the 20-day EMA and the 50-day EMA standing at $0.0246 and $0.0244, respectively. The 100-day and 200-day EMAs, both above today’s level, remain pressuring the market mood.
The Bollinger Bands are tighter, an indication of low volatility, but the price is biased towards the downside, and it is weakening. A breakdown below $0.0216 would send VET down towards $0.0200. If it crosses over $0.0268, we can see the momentum change and open up room towards $0.0300.
Also Read: VeChain Price Analysis: VET Aims for $0.03400 as Buyers Defend Key Support
