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The cryptocurrency industry witnessed the rebranding of VeChain from VeChain (Ven) to VeChain (VET). For the cryptocurrency in the industry. VeChainThor was also brought into existence by an airdrop that was scheduled for August 1st. It is migrated to VeChain (VET), the network recorded at market capitalization of more than seven million. The network has also been fully updated with the development team.
How Has VeChain Fared Since The Mainnet Launch?
VeChain has done well for a third generation blockchain. Last month, announced to mutually beneficial partnership with BYD as reported by smartereum.com. The partnership was impressive because it came about one month after the airdrop. BYD is the biggest electric car manufacturer in China.
VeChain also entered into partnership with People'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) got listed on HitBTC two days ago and it partnered with RFID Chips and NFCs for easy traceability and management. This is far more than many other cryptocurrencies can boast just a few months post the mainnet launch. It means the future of VeChain is bright.
VeChain Price Prediction 2019
VET is seen losing over -35% against the fiat in the course of the week.
Additionally, on November 23rd, the cryptocurrency is seen by over -10% down against the fiat, which indicates that the dip is far from over.
VeChain is not the only crypto dropping today as the market is now recording negative momentum for the cryptos, so far the whole market is driven by the latest negative trend, dipping against the dollar.
It seems that there are no signs of recovery, at least in the long run since the only visible gains for VET. 10% in the last 24 hours.
VET rebounding with all major currencies at the end of December and the beginning of January 2019.
However, if the cryptos take a rebound from the end of 2018 and the beginning of 2019, VET will probably not be able to get further from the value of 0.011 $ from its current value of 0.0051 $.
At the same time, the current price of VET represents an all-time low for 2018.
VeChain THOR (VET) Rebrands & Partners with BMW
It's official, VeChain (VEN) has officially re-branded to VeChain THOR (VET). As the right now, the coin has yet to be updated on coinmarketcap or major cryptocurrency exchanges like Binance. At press time, VET is currently the only cryptocurrency in the top 20 digital coins.
The coin launched on November 26th of last year and has since grown astronomically. To date, the coin has grown over 2200%. High price $ 9.00 per day. VeChain Thor is already an out and working product that allows businesses to track their products throughout its entire supply chain cycle via the blockchain. This aids in the assurance of quality and authenticity of the products. There are already many luxury goods stores, food / drug companies and logistics companies that are using this ecosystem. News Broke this morning that the VeChain THOR team just sealed their biggest partnership to-date.
BMW
This morning, when VeChain was officially launched, its team announced that it would be teaming up with the global car company BMW. This new collaboration could potentially catapult the coin to brand new highs. The project's CEO, Sunny Lu, announced the partnership in the video below.
In addition to the BMW partnership, VeChain THOR announced a collaboration with Oxford University. The world-renowned university will aid in the technical development of the VeChain THOR platform. University is linked to a blockchain project. Just last month, Arizona State University announced its partnership with DASH. Using bright young minds to collaborate on the project is a good move for the project.
In addition to the partnership, the South Korean cryptocurrency exchange, Coinnest, added the VeChain THOR to its trading platform and is offering direct fiat to VET pairing. You can check how the coin is pairing on the platform here: https://www.coinnest.co.kr/market-vet. I expect the VEN to VET transition on the major exchanges and indexes to take a few days. VeChain THOR developments.
Will the newly branded coin bring the thunder and reach all-time highs into the near future? We shall see. What are your thoughts? Comment below. source cryptocurrencynews
VeChain price predictions 2020:
Within a five-year timeframe, VeChain can reach as high as $ 75. Thus, when you look at the kind of return that it can provide, it is enormous. This is the reason why many of the cryptocurrency investors are looking to invest in this token.
With the versatile blockchain which is provided by this cryptocurrency, it will be improved by investing in this cryptocurrency. This is one of the main reasons why this cryptocurrency can increase significantly in the future.
You need to, however, keep in mind that it is a lesser-known cryptocurrency. The volatility in the cryptocurrency is on the higher side. If you're good enough to handle that volatility, it is one of the best cryptocurrency options which you can handle currently. This is the reason why you should look into this cryptocurrency if you're not only looking to diversify but also if you're looking to make a return on the cryptocurrency space. This will automatically provide you with diversification as well.
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The presentation was made to a select audience but was streamed live on YouTube. The Lord of the Rings and the Blade Runner the video, which runs for about 38 minutes, outlines the re-branding of Vechain as well unveiling its new partnerships.
VeChain's cryptocurrency, VET, has been showing an increase of 500 percent in value. This alone puts VeChain in the top 5% of cryptocurrency performers so far for the year.
VeChain owes its success in offering a use case that differs from most cryptocurrency. Instead of being a dark coin designed to hide transactions VeChain is known as a white coin. A "white coin" is meant to increase the transparency of transactions thus creating "a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high-speed value transfer."
This use case may be particularly suitable for producers and consumers of luxury goods that could be put together with BMW officially just hours before the announcement of their re-branding.
Thus, if you're looking for cryptocurrency which you can provide with multi-bagger returns, you should definitely look at this one. Cryptocurrency is also pretty strong. It can rise astronomically as well. The platform users as well as the cryptocurrency investors. This is the reason why this cryptocurrency should not be missed. (We have commented this before the announcement.)
New Partnerships Show Strong Support
In addition to the BMW partnership, VeChain has also promoted the development of the VeChain THOR platform. South Korean Exchange Coinnest also added VeChain to its trading platform in a direct fiat VET exchange adding an extra bit of stature to the re-branding of its token.
VET, in theory, could be used to track the authenticity of goods through the marketplace to the purchaser. 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 legal locations and using humane practices. In order to make this end-to-end transparency happenings in the distributed ledger.
As VeChain becomes VeChain THOR and VEN is listed as VET their blockchain will run on a two-coin system. THOR will be a separate product from VET in a wallet. THOR calculator website: https://thorcalculator.com/.
By virtue of BMW and the Accolades of Oxford University, there is little doubt that as VeChain takes up the hammer of the gods as VeChain THOR, it will continue to grow as resiliently as it started.
