- VeChain’s market cap slipped 5.3% in Q2 2025 to $1.8 billion, ranking 44th overall.
- On-chain activity fell sharply, but protocol upgrades and partnerships aim to revive growth.
- Wanchain integration expanded VeChain’s cross-chain access to 42 networks and 130 assets.
According to Messari’s State of VeChain Q2 2025 report, VeChain faced a challenging quarter. VET’s market capitalization dropped 5.3% quarter-over-quarter (QoQ) to $1.8 billion, with the token ending Q2 at $0.021, down from $0.022. This placed it as the 44th largest cryptocurrency by market cap.
VTHO, the gas token powering the VeChainThor network, also saw declines. Its market cap fell 11% to $176.2 million, while its price slid 14.1% to $0.0019.
Interestingly, total VTHO supply grew 3.8% during the quarter, which softened the impact of the price fall but reflected a mismatch between demand and generation. Ranked 193rd overall, VTHO remains far smaller in scale compared to VET.
On-chain activity weakened further. Average daily active addresses slipped 2.6% to 33,900. Transaction clauses, which allow complex bundled operations, saw a steep 41.4% drop to 279,800. The fall in clauses indicates reduced adoption of advanced features, extending a broader downtrend in activity that began in Q1.
Also Read: VeChain (VET) Price Outlook: Strong Support Points Toward $0.082 Target
New fees, VTHO burns, and EVM support go live
Even though slowing indicators, VeChain progressed its long-awaited Renaissance Upgrade. May saw the release of the Galactica testnet, which was activated on the mainnet on July 1 following independent audits.
Upgrades included a dynamic fee structure with VTHO burns, typed transactions, improved contracts, and EVM compliance. April also brought the release of StarGate, migrating VTHO rewards to staking based on NFTs, as well as introducing additional peer levels, increasing validator as well as delegator rewards.
Towards the future, VeChain plans more upgrades during Q3 and Q4 2025, such as a full Delegated Proof-of-Stake mechanism, integration of JSON-RPC, and full EVM parity to expand the reach among developers.
VeChain teams up with Wanchain for cross-chain boost
On June 24, VeChain revealed that it would be teaming up with Wanchain, bringing along cross-chain infrastructure that bridges 42 blockchain networks as well as more than 130 assets. This combines VET, VTHO, and VeBetterDAO’s B3TR to be able to flow outside the VeChain ecosystem.
Having Wanchain’s history that has processed $1.5 billion as well as no serious security hacks, the bridge should improve liquidity as well as transaction flow, while also solidifying VeChain’s fee-burning framework.
VeChain also kept up the green profile. The network emitted 2.6 tonnes of CO₂ during Q2, which was a 9.7% decrease compared to Q1, the equivalent absorbency footprint of up to 50 trees.
Use of the gas tilted towards EVM-pulled contracts, who contributed to 81.4% consumption, demonstrating more smart contract dependency even as simple transaction activity declined.
Also Read: VeChain (VET) Squeeze Signals Big Move Ahead: Can Bulls Target $0.0430?
