Some months ago, the cryptocurrency industry witnessed the rebranding of VeChain from VeChain (Ven) to VeChain (VET). The launch was expected to mark the beginning of a new era for the cryptocurrency in the industry. VeChainThor was also brought into existence followed by an airdrop that was scheduled for August 1st. On the day it migrated to VeChain (VET), the network recorded a market capitalization of more than seven million. The network has also made a lot of updates since then with the community fully backing the development team.
How Has VeChain Fared Since The Mainnet Launch?
VeChain has done 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 came about one month after the airdrop. BYD is the biggest electric car manufacturer in China and one of the best manufacturers of electric car plug-ins in the world.
VeChain (VET) Price Today – VET / USD
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 NFC for easy traceability and management. This is far more than many other cryptocurrencies can boast of just a few months post the mainnet launch. It means the future of VeChain is bright.
VeChain Price Today
Regarding price, VeChain (VET) is going through the same rough patch as every other cryptocurrency. At the time this piece was written, it was trading at $0.012837. This shows that it is down by 0.39% against the USD and 0.09% against Bitcoin. The trading volume within a 24 hour period is $8,333,388 and the total market capitalization is $711,882,034.