The native token of the Vanar blockchain, $VANRY, has seen a sharp price spike today, jumping over 35% to trade at $0.067 at the time of this writing. This impressive rally appears driven by a series of positive adoption announcements from the Vanar team about the integration of $VANRY with major mainstream partners.
Specifically, Vanar announced today that it has partnered with Emirates Digital Wallet, which is owned by 15 major banks in the Middle East and has access to over 13 million customers.
Through this collaboration, $VANRY and the Vanar network will help power a “transformative digital banking experience” in the region focused on speed, security, and efficiency.
📢 NEW ADOPTION ALERT 📢
— Vanar (@Vanarchain) December 1, 2023
Vanar x Emirates Digital Wallet
Emirates Wallet is owned by 15 primary banks popular in the Middle East, accessible to over 13M+ customers
VANAR will help power a transformative digital banking experience for mainstream speed, security and efficiency pic.twitter.com/HHHgZdWZXH
Additionally, Vanar stated that, due to strong community demand, it is restarting its $VANRY pre-staking program to incentivize new members to join the Vanar ecosystem.
Pre-staking allows users to stake their $VANRY tokens before the actual staking function is live to earn rewards. This suggests enthusiasm is high among the Vanar community.
With the Relative Strength Index (RSI) for $VANRY sitting at 45 on the daily chart, this means the token is neither overbought nor oversold at current levels after today’s pump. Traders will be watching to see if the rally has further room to run.
It is also notable that $VANRY hit its all-time high of around $1 back in March 2021, during the peak crypto bull run. So despite today’s excitement, $VANRY would still have significant upside to revisit its previous highs.
Overall, it appears the Vanar network is gaining strong adoption, which is fueling interest in its native token, $VANRY. With gaming and metaverse projects surging in popularity, Vanar and $VANRY are positioned as top contenders to watch as leaders in this space as they scale up their ecosystem. The recent 35% single-day spike may just be the beginning if Vanar can continue delivering on its milestones.
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