Key Notes
- Franklin Templeton’s $1.6 trillion AUM firm added VeChain to its SEC-registered tokenized Treasury fund portfolio.
- VET trades near $0.024 support with potential upside targets at $0.030 if it breaks above $0.028 resistance level.
- Institutional integration could reduce VET’s correlation with broader altcoin volatility and strengthen fundamentals.
VeChain
VET
$0.0251
24h volatility:
0.9%
Market cap:
$2.16 B
Vol. 24h:
$68.64 M
price rebounded on Wednesday, July 24, after investment giant Franklin Templeton added the blockchain to its $780 million tokenized US Government Money Fund. The move marks the firm’s intent to extend adoption of Layer 1 chains beyond Ethereum and Solana towards lesser known chains like VeChain.
In response, VET price rose 1.2% intraday to trade near $0.025, after sliding 11% earlier in the week amid broad market volatility. VeChain now joins Ethereum
ETH
$3 721
24h volatility:
4.7%
Market cap:
$448.83 B
Vol. 24h:
$44.07 B
, Solana
SOL
$187.2
24h volatility:
1.0%
Market cap:
$100.76 B
Vol. 24h:
$18.99 B
, and Stellar
XLM
$0.43
24h volatility:
3.8%
Market cap:
$13.40 B
Vol. 24h:
$848.82 M
as public chains hosting the OnChain US Government Money Fund (FOBXX), the first SEC-registered tokenized money market fund.
Franklin OnChain US Government Money Fund | RWA.xyz
According to a Cointelegraph report, Franklin Templeton, which oversees $1.6 trillion in assets under management, announced the expansion via its BENJI investment portal. The VeChain integration is designed to allow global users to buy and hold tokenized US Treasury bills using blockchain rails, while ensuring regulated custody and high liquidity through BitGo and Keyrock.
VeChain Price Forecast: Can VET Hold $0.024 Support?
VET is currently hovering near its 20-day mid-Bollinger Band at $0.02447, which is emerging as a short-term pivot. The MACD histogram remains slightly positive, but bearish divergence has begun to form.
VeChain Price Forecast
A decisive breakout above $0.02797 (upper Bollinger Band) could shift short-term momentum toward $0.030 and $0.0325. On the downside, failure to defend $0.024 may open the door to a sharp retest of $0.020 support, a level that held during the market-wide correction in June.
Anticipating increased institutional inflows and on-chain usage, VeChain bulls are hoping the Franklin partnership catalyzes stronger fundamentals and reduces VET’s correlation with broader altcoin market volatility.
Best Wallet Gains Attention as VeChain Price Rebound Begins
As VeChain (VET) rebounds amid rising institutional interest, traders are prioritizing secure, efficient tools for managing assets and exploring new opportunities. Best Wallet is emerging as a good choice for VET holders seeking to protect gains, access presales, and manage staking independently.
Best Wallet Presale
Visit the official Best Wallet website to join the presale and explore its DeFi-native tools.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
