Wednesday, October 20, 2021

Justin Bennett States When Cardano (ADA) Will Start Seeing Capital Outflow into VeChain (VET)

Justin Bennett, a crypto analyst and trader, is showcasing his bullishness on VET, the native token of the leading enterprise blockchain platform, VeChain.

In a tweet on 30th August, Bennett told his teeming followers that there will soon be a notable capital outflow from Cardano (ADA) into VeChain (VET).

Read Also: VeChain to Help Catalyze the Digitalization of Carbon Data and Help Facilitate China’s Emissions Reduction Initiative

The trader clarified that he has nothing against Cardano (ADA), but that is how it has been from day one, stating that there is no reason to doubt his prediction.

Captioning a chat for illustration, Justin Bennett tweeted, “Nothing against ADA, but sometime soon, we’re going to see capital flow out of ADA and into VET. That’s how it’s worked from day one. No reason to think otherwise.”

In the same thread of tweets, he stated that he expects this notable outflow from Cardano (ADA) into VeChain (VET) to play out around the time VET is breaking out from the April trend line near 0.132.

Read Also: VeChain (VET) Joins Top 10 Cryptocurrencies with Leading Social and Market Activity

He wrote, “My guess is it happens around the time VET is breaking out from the April trend line near 0.132.”

In the comments, many traders came to testify that they just sold their ADA holdings for VET.

Bennett further advised traders to hold the two coins after a crypto user suggested that it’s good to keep both ADA and VET for investment diversification.

“Sure, I’ve said that for 16 months. But anyone rebalancing their portfolio should be pulling some off the top of ADA and into VET and others that have yet to pump.”

Read Also: VeChain Releases New Version of VeChainThor Mobile Wallet with Price Display Support for VEED Token

At the moment, the reason why Justin Bennett is certain that this will subsequently play out cannot be ascertained. However, all the top cryptocurrencies in the market are still in a state of recovery following a slight price pullback.


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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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