Soon after a day of recovery, the Cryptocurrency market reenters the red zone; major cryptocurrencies along with the king of cryptoverse is mostly in red, though the losses are nominal. Bitcoin is trading 1.78% down against yesterday’s closure. The second-largest Cryptocurrency Ethereum is trading almost 2% below yesterday’s close.
The dominance of Bitcoin affected the price of Vechain VET yesterday, though today we can see the price of vechain again flattering in green, though the gains are minimal. The Price of VeChain is currently trading at $0.004570 against the United States dollar, the price is up by 1.35% against yesterday’s close, and the momentum of the coin is bullish for the day.
VECHAIN PRICE ANALYSIS:
The Vechain (VET) was trading at $0.004582 yesterday, the price of VET open with $0.004582 and closes at 0.004536, the price of the coin was falling and reached as low as $0.004491 at 12:48 UTC yesterday. The circulating supply is 55,454,734,800 VET. The market cap of the coin has reached $253,563,498 USD. The 24-hour volume of the currency VET is $28,692,022 USD. The ROI of the coin is now -69.60%. In the last 30 days, VeChain has shown a downtrend of over 19.2% and is not showing any significant surge or dips in price since the last few days.
VECHAIN LATEST PARTNERSHIP:
The vechain is one of the most popular Cryptocurrencies of 2019 with a lot of latest collaborations and partnerships. The latest partnership of vechain with WalMart and counterfeit wine has created a lot of buzz about vechain in the market. The country representative of vechain, Jason rockwood explained about vechain’s role in Walmart in an interview with Bloxlive.TV. In this interview, he explained how vechain will function as a fully decentralized blockchain which is more suitable for enterprise use than Ethereum.
Jason Further informed about the latest upgrades of the vechain protocol, he reveals about the latest adoption of a centralised governance system for vechain.
“One of the first things that makes a big difference is our governance model. It is more centralized than Ethereum… It’s easier to update and easier to manage. And at the end of the day, that’s what a lot of enterprises are looking for. They want to make sure that they’re making an investment in a platform that will always be at the head of the curve in terms of what’s best practices for technology.”
He further added that there are are other interesting enterprise collaborations in development apart from VeChain’s high-profile partnership with Walmart.
“We’re very proud of our relationship with the world’s largest electric car manufacturer BYD which is based in China, and we’ve partnered with them to build a carbon credit ecosystem that incentivizes consumers to make better decisions for the environment. We’re also working with DNV GL and the government of San Marino which is a small nation-state in Italy, and we’re working with them on a number of government administrative initiatives. And I’d also mention our work with BMW, where we’re working on a number of efficiencies in making their cars more secure and helping with the verifiability of some of the auto data.”
With the latest additions in Vechain partnerships and developments, the price of vechain is expected to grow in the long term, though the news is not reflecting any prominent growth in the short term.