NOIDA (CoinChapter.com) — Vanar Chain’s native token, VANRY, recently drew attention for several reasons that suggest it might be a prudent investment in 2024. The project has been expanding its presence, adding to VANRY’s bullish cues.
1. Strategic Partnerships and Ecosystem Expansion
Vanar Chain has successfully embarked on a series of strategic partnerships that have significantly enhanced its ecosystem’s capabilities and reach.
A landmark integration with PAAL AI in January earlier this year underscored VANRY’s potential. PAAL AI is renowned for its cryptocurrency-focused artificial intelligence leveraging Cosmos data feeds.
📢 NEW ADOPTION ALERT 📢#VANAR is proud to welcome @PaalMind to our ecosystem! 🤖@PaalMind is reshaping AI interaction with their advanced Web3 tools, delivering personalized chatbot experiences, autonomous market analysis, and secure, AI-driven trading solutions. pic.twitter.com/wWX0q7c8yG
— Vanar (@Vanarchain) January 16, 2024
This collaboration bolstered VANRY’s market value by 19% and introduced multiple new AI features that helped enrich the Vanar ecosystem further.
Moreover, Vanar Chain’s engagement with firms like Google Cloud and Emirates Digital Wallet, alongside platforms like DeQuest and Kaizen Finance. This has helped the blockchain establish its credentials.
Furthermore, per the Vanar blockchain’s roadmap, the project has more partnerships lined up for Q2 2024, focusing on Web3 gaming firms.
Excited to announce our strategic partnership with @Vanarchain!
— Inspect (@inspectxyz) February 29, 2024
With our advanced data capabilities, we're adding a layer of infrastructure to Vanarchain's multi-billion dollar web2 businesses and providing analytics to their rapidly growing web3 ecosystem. pic.twitter.com/GZUPGoDk3S
In addition, the firm announced a partnership with Inspect. Inspect is a tool that aims to enhance transparency and provide insights into blockchain transactions, smart contracts, and decentralized applications. Vanar also announced the launch of the first dApp of its ecosystem, the Bazaa Marketplace.
2. VANRY Technicals
VANRY price is moving inside a descending parallel channel, trying to break above the channel’s resistance.
A rebuff from the channel resistance could see VANRY price drop to the channel’s support near $0.015, a fall of nearly 82% from current levels.
However, if the token invalidates the pattern, VANRY price might rally as much as the channel’s width to reach $0.5, gaining more than 505% along the way. As such, a definite breakout above the channel could attract buyers to the market.
Given the partnerships that Vanar is planning to add to its ecosystem, it is likely that VANRY price would invalidate the pattern. Yet, traders should do their research before investing, given the sector’s volatility.
3. Technological Advancements and Testnet Launch
The launch of Vanar Chain’s testnet marks a key step towards expanding its ecosystem.
The development allows developers to explore and innovate, potentially leading to new applications and services. These could drive further adoption and demand for VANRY.
In addition, the transformation of TVK to VANRY, facilitated by a community-led vote, reflects a strong sense of unity and trust within the Vanar Chain community.
Furthermore, the token’s listing on major exchanges like Binance and Crypto.com has expanded its accessibility and liquidity, critical factors for any crypto asset’s success.
