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Key Takeaways:
- The $780M tokenized Treasury fund now includes VeChain, expanding beyond Ethereum and Solana.
- Holding $0.024 support is crucial; a breakout above $0.028 could signal further upside.
- As VeChain rebounds, users seek efficient tools like Best Wallet for secure staking and asset management.
VeChain (VET) saw a mild price rebound on Wednesday, July 24, following a major institutional development. Asset management giant Franklin Templeton added VeChain’s Layer 1 blockchain to its $780 million OnChain US Government Money Fund (FOBXX)—a regulated tokenized Treasury vehicle.
This move extends the fund’s footprint beyond Ethereum, Solana, and Stellar, signaling rising institutional interest in lesser-known yet enterprise-focused blockchains like VeChain.
Franklin Templeton Taps VeChain for Tokenized Treasuries
Franklin Templeton, which oversees $1.6 trillion in assets under management, announced the VeChain integration via its BENJI investment portal. The expansion enables global investors to access tokenized US Treasury bills through VeChain’s blockchain infrastructure, using secure custody solutions like BitGo and liquidity support from Keyrock.
By joining the ranks of Ethereum (ETH), Solana (SOL), and Stellar (XLM), VeChain becomes the latest public chain supporting FOBXX—the first SEC-registered tokenized money market fund.
VET Price Rebounds as Market Eyes Key Resistance
Following the announcement, VET price rose 1.2% intraday to $0.0247 after dropping 11% earlier in the week due to broader market volatility. Currently trading near its 20-day mid-Bollinger Band at $0.02447, VET is at a crucial technical pivot.
While the MACD histogram remains slightly positive, analysts caution that a bearish divergence is forming. A clean breakout above $0.02797 could pave the way for a short-term rally toward $0.030 or even $0.0325. However, failure to hold the $0.024 support level may see VET drop toward $0.020—a key level tested during June’s correction.
Institutional Interest Could Fuel Long-Term Upside
The VeChain community is optimistic that this high-profile partnership will boost real-world adoption and help decouple VET’s price action from broader altcoin weakness.
Also Read: VeChain’s (VET) ‘Act First, Earn Now’ Model Gains Traction with Stragate and Cleanify Apps
With more institutional inflows expected and on-chain usage expanding, the Franklin Templeton integration may mark a turning point for VET’s market narrative.
As interest in VeChain rises, many investors are turning to Best Wallet for managing their assets. The wallet offers tools for staking, secure storage, and participating in early-stage presales—appealing features for VET holders looking to optimize their returns.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
