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The cryptocurrency industry has seen VeChain rebranding from VeChain (Ven) to VeChain (VET). The launch should have marked the beginning of a new era for cryptocurrency in industry. VeChainThor has also been put into practice followed by an air launch scheduled for August 1st. On the day it migrated to VeChain (VET), the network registered a market capitalization of over seven million. The network has also made many updates since then with the community that fully supported the development team.
How did VeChain go since the launch of Mainnet?
VeChain did well for a third-generation blockchain. Last month, it announced a mutually beneficial partnership with BYD, as reported by smartereum.com. The partnership was impressive because it arrived about a month after the air launch. BYD is the largest electric car manufacturer in China and one of the best electric car plug-in manufacturers in the world.
VeChain has also partnered with People & # 39; s Insurance Company Of China, aka PICC. The network seems to be the favorite for Chinese companies. The goal of this partnership is to digitize the insurance industry by making data management more efficient through blockchain technology.
VeChain (VET) was quoted on HitBTC two days ago and has partnered with RFID and NFC chips for easy tracking and management. This is much more than many other cryptocurrencies can boast only a few months after the launch of mainnet. It means that the future of VeChain is bright.
VeChain 2019 price forecast
Driven by the frequent negative trends that prevailed in November, the IFP lost more than -35% over the fiat during the week.
Moreover, on 23 November, the cryptocurrency is seen by over-10% lower than the fiat, which indicates that the decline is still far.
VeChain is not the only crypto today, as the market has a negative dynamic for crypts, so almost the entire market is driven by the latest negative trend, down against the dollar.
There appears to be no signs of recovery, at least not in the long run, as the only visible gains for VET are by far reflected in a solitary whole of the 1% increase in the last hour, while the IFP is digging for excess – 10% in the last 24 hours.
Many expect to see the IFP rebound with all major currencies at the end of December and at the beginning of January 2019.
However, even if the cryptos rebound by the end of 2018 and the beginning of 2019, the IFP will probably not be able to go over the value of 0.011 $ from its current value of 0.0051 $ .
At the same time, the current price of the IFP represents the historical minimum for 2018.
VeChain THOR (VET) Rebrands & Partners with BMW
It is official, VeChain (VEN) has officially renamed VeChain THOR (VET). As of now, the currency has yet to be updated on coinmarketcap or on major cryptocurrency platforms such as Binance. At the time of printing, the IFP is currently the only cryptocurrency in the top 20 digital coins.
The coin was launched on November 26th of last year and has since grown astronomically. To date, the currency has grown 2200%. Its price has hit a record high of over $ 9.00 in mid-January and could very well reach that price point with its re-branding and new partnership. VeChain Thor is already an external and functioning product that allows companies to monitor their products along the entire supply chain cycle via blockchain. This helps to ensure the quality and authenticity of the products. There are already many luxury goods stores, food and pharmaceutical companies and logistics companies that use this ecosystem. The news began this morning that the VeChain THOR team has just signed its biggest partnership to date.
BMW
This morning, when VeChain THOR officially launched, its team announced that it would collaborate with the global automotive company BMW. This new collaboration could potentially catapult the currency to reach new highs. The project's CEO, Sunny Lu, announced the partnership in the video below.
In addition to the BMW partnership, VeChain THOR has announced a collaboration with the University of Oxford. The world famous universities will contribute to the technical development of the VeChain THOR platform. This is not the first time that a university connects to a blockchain project. Just last month, Arizona State University announced its partnership with DASH. Using bright young minds to collaborate on the project trajectory is a good move for the project – it has the potential to bring new ideas to the table.
In addition to the partnership, the South Korean cryptocurrency exchange, Coinnest, has added VeChain THOR to its trading platform and offers a direct fiat to VET matching. You can check how the currency pairs on the platform here: https://www.coinnest.co.kr/market-vet. I expect the VEN to VET transition on major exchanges and indices to take some days. Stay tuned as we continue to update you on the latest VeChain THOR developments.
Will the new currency of the brand bring the thunder and reach the historical highs in the near future? We'll see. What are your thoughts? Comment below. cryptocurrencynews source
VeChain 2020 price forecast:
Within a period of five years, VeChain can get up to $ 75. So when you look at the kind of performance it can provide, it's huge. This is why many cryptocurrency investors are trying to invest in this token.
With the versatile blockchain provided by this cryptocurrency, it will be easier for investors to get a good deal of return by investing in this cryptocurrency. This is one of the main reasons why this cryptocurrency can increase significantly in the future.
It is necessary, however, to keep in mind that it is a less well-known cryptocurrency. For this reason, the volatility of the cryptocurrency is in the highest part. If you're brave enough to handle this volatility, it's one of the best cryptocurrency options you can handle right now. This is why you should look into this cryptocurrency if you are not only trying to diversify, but also if you are looking to get a good amount of return on the cryptocurrency space. This will also automatically provide you with diversification.
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The presentation was made to a selected audience, but broadcast live on YouTube. Starting with images that looked like a fusion of The Lord of the Rings and Blade Runner, the video, which lasts about 38 minutes, outlines the re-branding of Vechain and unveils its new partnerships.
At the start of 2018, VeChain's cryptocurrency, VET, performed well with a 500% increase in value. This alone puts VeChain in the top 5% of the cryptocurrency performers so far for the year.
VeChain owes its success in part to the offer of a case of use different from most cryptocurrencies. Instead of being one dark coin designed to hide transactions VeChain is known as a white coin. A white coin has the purpose of increasing the transparency of transactions thus creating "a reliable and distributed business ecosystem to enable transparent information flow, efficient collaboration and high-speed value transfer."
This case of use that could attract mainly producers and consumers of luxury goods could be what officially put VeChain together with BMW a few hours before the announcement of their re-branding.
So, if you're looking for the cryptocurrency that can offer you multi-bagger returns, you should definitely take a look at this. Even the basic application of this particular cryptocurrency is quite strong. Precisely for this reason, many investors believe that in the future it can also rise astronomically. This will benefit both the platform users and the cryptocurrency investors. This is why this cryptocurrency should not be ignored at current levels as it decreased significantly from the peak. (We have listed this comment before the announcement).
The new partnerships show strong support
In addition to the BMW partnership, VeChain also announced a collaboration with the University of Oxford to support the development of the VeChain THOR platform. South Korea's Coynest Exchange has also added VeChain to its trading platform in a direct exchange with the exchange of VET adding a bit of stature to the rebranding of its token.
In theory, the IFP could be used to track the authenticity of the goods through the buyer's market. This is a great reassurance in a world full of fakes and something impossible to do with traditional currency.
The same tracking technology can be used in the fish industry to ensure the supply of fish in legal locations and the use of humanitarian practices. To achieve this end-to-end transparency, a microchip must be installed in each product to be recorded in the distributed ledger.
As VeChain becomes VeChain THOR and VEN is listed as VET, their blockchain will work on a two-coin system. THOR will be a separate product from the IFP that can be acquired through the picketing of VET in a portfolio. Full instructions and usage are available on the THOR calculator website: https://thorcalculator.com/.
Adding the prestige of BMW and the acknowledgments of the University of Oxford, there is no doubt that, while VeChain takes back the hammer of the gods as VeChain THOR, it will continue to grow with the same elasticity with which it began.
