VeChain Price Corrects After Strong Rally

VeChain (VET) experienced a sharp price drop of around 7.33% over the last day, but this is seen as a post-rally correction rather than a fundamental shock.

The drop comes after VeChain's recent strong rally into the InterStellar hard fork, which has been driving the cryptocurrency's surge in value.

VeChain's price had already moved 65.45% higher over the past 30 days before correcting by around 7-8 percentage points over the last day, indicating a typical signature of a strong rally cooling off.

The InterStellar hard fork is scheduled to take place on September 16, and it will bring multiple improvements to VeChainThor's EVM, aligning with Ethereum's Cancun, Prague, and Osaka feature sets.