VeChain price (VET) slipped about 3.5% over the past 24 hours, trading near $0.0117 as declining volume and post-upgrade adjustments weighed on short-term sentiment. While the move was modest in percentage terms, it mattered because VET coin is hovering near multi-year lows, where small shifts in liquidity can have outsized effects.
The latest Vechain news comes as the network completes a major structural transition that is forcing the market to reassess how value accrues to the Vechain coin.
VeChain Hayabusa Mainnet Goes Fully Online
VeChain activated its Hayabusa mainnet upgrade on Dec. 2 and fully went online on December 9, replacing passive VTHO generation with staking-only rewards. More than 5.3 billion VTHO, worth roughly $15 million, was reallocated to validators, ending idle rewards for non-staking holders. According to data, this change coincided with softer market participation rather than renewed demand.
The shift likely triggered selling from holders unprepared to stake, a move amplified by Binanceās announcement that it will end VTHO rewards for VET Flexible Products in 2026. With roughly 85.9 billion VET already circulating, even limited distribution pressure can weigh on the Vechain price.
Despite the sell-off, on-chain development metrics tell a different story. Santiment data shared by FinancialPress shows VeChain ranking eighth among top real-world asset (RWA) networks by development activity this month, alongside projects like Chainlink, Hedera, and Avalanche.
Analyst FrienDovJones highlighted that VETās development activity remains structurally elevated, surpassing levels seen during the 2021 bull market. He described the divergence as a classic bullish setup, noting that ābuilders didnāt leave, speculation did,ā even as VET price trends lower.
VeChain Price Chart Signals Weak Momentum Despite Upgrades
From a technical standpoint, VET remains in a broader downtrend, with price still trading near a cycle low after failing to reclaim the $0.012ā$0.013 resistance zone. Charts show choppy, low-momentum price action, reflecting reduced liquidity rather than aggressive distribution, a pattern consistent with the 24-hour volume decline to roughly $25.8 million.
Crypto analyst Michaƫl van de Poppe noted that the Hayabusa upgrade and the launch of Stargate 2.0 mark a structural turning point for VeChain, even as price remains subdued. He described the upgrade as the culmination of a long build-up, emphasizing that staking rewards are now sustainably higher for early participants, tokenomics across the ecosystem have improved, and network security and decentralization have strengthened materially.
Van de Poppe also highlighted that VETās chart is still hovering around a cycle low, suggesting that price weakness reflects timing rather than deteriorating fundamentals. While he expects broader macroeconomic conditions to play a role in any sustained recovery, his view frames VET as an asset in which network progress has outpaced market pricing.
For traders, levels staying above $0.0125 indicate increasing strength. Below $0.011, VET is vulnerable to more decline.
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