VeChain Price Leading Once Again In Gain – Promising Choice
VeChain price was able to overcome the major $5.15 and stabilize just below the $6.00 mark. Could this just mark the beginning as VeChain is set to rebrand this month?
As many are choosing to call it – a healthy recovery wave has taken up the crypto-market in a global scale. For the past days – it has been a general green increasing momentum taking place for all leading coins. One is standing above others, VeChain [VEN] which is running a 20 percent gain in the last 24 hours, leading BTC market for 11%.
It is also worth noting this VeChain price increase is the direct result of solid improvements in the Bitcoin and Ethereum department. More specifically, the VEN/BTC ratio increased by 11.06%, whereas the VEN/ETH ratio improved by 18.26%. It is evident Ethereum is struggling a bit to follow Bitcoin’s price momentum right now, even though it seems to be a matter of time until everything explodes in value.
Two very notable events are written down to happen during this month [the upcoming days]: the release of Litepay in 41 countries including China, Japan, U.S, German and U.K, and the second being VeChain getting rebranded. An after-shaking impact will be taking over the community and market as both coins are targeting very high even now.
On January 22nd, it had reached its peak of $9.37. At its most recent lowest price, VEN was valued at $2.69 on February 6th. This was also the same day when all our coins did a drastic nose dive and Bitcoin was valued at $6,149. But VEN has since recovered and is valued at $5.72. This is an 112% price increase in 11 days.
More to continue, there is news being spread of a PwC and DNV GL utilizing VeChain as a base supporting tech. This is proof of concept and adoption of the VeChain platform. These partnerships have cemented VeChain in the crypto-verse as a powerhouse in enterprise blockchain technology.
Vechain is a platform that is designed to enhance supply chain management processes. VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. The most important factor is confirming the authenticity of (mainly) luxurious products and also giving all kinds of background information about the product.
VeChain already has a working product at the moment, as can be seen in this video by Price Waterhouse Coopers.
In a previous EthereumWorldNews writing, we have mentioned the range of partnerships which are looking to work together or are already in a project with VeChain.
The coin launched two-three years ago in 2015 being part of a product that does have actual users right now. In the community and ecosystem we enthusiast about maybe everyday that is rare to meet.
In the event end of February, VeChain will be rebranding to VeChain Thor with the tokens having the symbol VET. It is quite interesting what will VeChain deliver next.
Trade safe and do not Overtrade!
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