Despite the stock market supervisory measures, VECHAIN (VET) increases 30% in treasure states

Despite the stock market supervisory measures, VECHAIN (VET) increases 30% in treasure states
veakain, a popular cryptocurrency, seems to be good despite the decline in the overall market and the enforcement measures of the US stock exchange supervisory authority (Sec). According to a recently published quarterly report, Vechain recorded a significant increase in its treasure stocks by almost 30%.
The financial documents reveal that Veakain's stocks rose to $ 380 million in the first quarter of 2023, compared to $ 275 million in the fourth quarter of 2022.
The volatility of the digital assets this year was mainly caused by the measures of the SEC against Coinbase and Binance, which initially represented a threat to the entire market. But as established financial giants submitted applications for Spot Bitcoin ETFs, the market recovered and influenced the leading cryptocurrency.
The current quarter report from Vechain shows a remarkable increase in treasury stocks, with $ 34 million being created in stable coins. However, these stocks have declined since the fourth quarter of 2022. At the same time, the stocks of VECHIIN in Bitcoin (BTC), Ethereum (ETH) and VET rose by over $ 100 million, but no precise details for distributing these tokens were revealed, except that they were categorized in stable coins and the three other digital currencies.
The company does not mention the company's income, but various expenses are disclosed. In the first quarter, $ 3 million was spent on the company and a further $ 1.5 million for technical operation. However, other expenses remained below the million collar brand.
The VECHAIN Ecosystem was further expanded this year, with important developments such as the Veworld Wallet, a self-controlling wallet for consumers, and the publication of the WhitePapers 3.0 by VECHAIN Foundation in March. These milestones have further advanced.
Despite the downturn on the overall market and the regulatory uncertainties, Vechain seems to consolidate his position and continue to achieve strong results. The increase in treasure stocks and the continued developments of the Vechain ecosystem hope for a positive future for cryptocurrency.
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