VITE Coin Pumps +80% In A Single Day Amid Integration With Binance Smart

Vite coin is trading in an uptrend here like many other altcoins. The Cryptocurrency VITE just went up +80% in a single day by breaking a Falling wedge pattern with strong buying volume and surges over +123% in a week.

What is Vite?

Vite has built a Directed Acyclic Graph (DAG) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The Snapshot Chain of Vite utilizes Hierarchical Delegated Proof of Stake (“HDPoS”) to achieve network consensus, while supernodes take only staking rewards and no transaction fees. Vite virtual machine maintains compatibility with EVM, and utilizes asynchronous smart contract language, Solidity++.

The VITE token is the currency for simple token transactions and smart-contract executions on the Vite network, with users staking VITE for transaction quota instead of consuming gas. VITE can also be used to vote for Snapshot Block Producers (aka supernodes). In addition, a VITE staker with an unused transaction quota can lease such quota to dApps in exchange for their tokens. For instance, users can stake VITE in exchange for ViteX’s native decentralized exchange token, VX.

VITE Quick Stats

VITE Price Analysis

At the time of writing, VITE is ranked 395th cryptocurrency globally and the current price is $0.1867 AUD. This is a +123.96% increase since 4th March 2021 (7 days ago) as shown in the chart below.

After looking at the above candle chart, we can clearly see that VITE was trading inside the falling wedge pattern on the VITE/BTC pair. The first resistance was on the $0.1146 AUD price levels which VITE broke with a strong bullish trend buying volume and is now heading towards the all-time high price in AUD. Seeing that many altcoins are holding strong this week, VITE is likely to continue to increase in the uptrend if the traders keep buying with high volume.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What do the Technical indicators say?

The Vite Coin TradingView indicators (on the 1 day) mainly indicate VITE as a buy, except the Oscillators which indicate VITE as a neutral.

So Why did VITE Breakout?

General market sentiment suggests we are in the middle of the bull run season which could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying VITE for the next Altcoins rally & it could also be contributed to some of the recent news of the VITE Integration with Binance Smart Chain.