FOMO As Altseason Is Trending, Vechain Jumps 30%, Binance Blockchain Week 2022

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Altseason was trending on social media after several altcoins saw double digit price gains. Most notable in the top 50 coins on CoinMarketCap was VeChain which exploded by some 30% at a certain point on Sunday and continued that trend on Monday morning.

The VeChain family on social media was ecstatic.

Is this the start of #ALTSEASON?! 🚀

🔥🔥🔥

— VeFam ⓥ (@VeChainFam) March 27, 2022

Longterm Vechain analyst Justin Bennett stated yesterday:

40% rally in 9 days right to my short-term target of 7 cents. And people said #VET was dead

$VET 40% rally in 9 days right to my short-term target of 7 cents. 🔥 Called for this on the 17th.

And people said #VET was dead. 🙄#VeChain #VeFam https://t.co/v7jCPGMThG pic.twitter.com/O8kaBzbJ8Q

— Justin Bennett 🇺🇦 (@JustinBennettFX) March 27, 2022

Middle east expansion

Meanwhile Charles Hoskinson, CEO of Cardano, did a one hour AMA (ask me anything) from Dubai, where he was for the Binance Blockchain Week 2022. The platform of CEO Changpeng Zhao is still the biggest in the world and has recently obtained a license to operate from Dubai, setting it as a base to expand in the Middle East.

Waves and crypto for landlords

Unfortunaly for the Binance event, it comes as more and more real estate agents in Dubai are reporting one of the biggest bull markets ever as Russian investors snap up apartments by either buying them outright, or paying a year’s rent in advance. Crypto is being used for payment.

Dubai Surprise AMA: 03/26/2022 https://t.co/6op1ZfnBnZ

— Charles Hoskinson (@IOHK_Charles) March 27, 2022

Speaking to The Guardian, Alan Pinto, a leasing consultant at Espace Real Estate in Dubai Marina, explained that

It’s been unbelievable.

A radical amount of Russian investors are purchasing units. Even tenants; we’ve had a huge amount of calls. They transfer their funds via crypto. They have an intermediary who will do that for them and then the cash is passed to the landlords.

According to US business media like FX street, rich Russians convert their rubles mostly into Waves, which has seen a 240% monthly gain.