According to the latest VeChain news in CryptoNewz, the VeChain platform is primed for mega success this year. The VeChain Thor price prediction will be influenced mainly by the partnerships. The VeChain blockchain was created to be applied to supply chain management across industries.
Ever since the VeChain token swap, the blockchain has served this purpose effectively and sealed many VeChain partnerships. Those who use the VeChain blockchain trust it because it is tamper proof and it increases trust between the retailers and the consumers through asset digitization. It allows swift and efficient tracking throughout the supply chain.
VeChain News Today – VeChain Thor Price Prediction
After the VeChain token swap was completed successfully last year, the VeChain news and VeChain Thor price prediction have been positive. Several VeChain Thor price predictions have emerged since then.
In our last VeChain news, we said that the price of VeChain has been growing fast and the growth rate on the VeChain platform will soon become higher than the growth rate on the Bitcoin blockchain.
VeChain expert analysts believe that the price of VeChain will hit $0.02 before the end of 2019. Before the end of 2021, the VeChain price will hit $0.258 and by 2023, it should be around $0.612. Some others have predicted that the price of VeChain has what it takes to move as high as $75 by the end of 2023.
VeChain Thor Price
VeChain (VET) Price Today – VET / USD
Between last month and yesterday, the price of VeChain has increased by more than 48.61%. However, VeChain has been recording double digit loses since the start of the day. The trading volume over a 24 hour period is $18,403,834 and the market capitalization is $347,690,541.
Keep in mind that the VET coin isn’t the only one that is currently trading in red against the USD. Almost every cryptocurrency on CoinMarketCap is trading in red including the flagship cryptocurrency, Bitcoin.
Analysts have suggested that the bloody Thursday is part of a market-wide price correction. Bitcoin has lost a significant amount of its gains and is current trading at $5022. The good thing is that the support at $5000 is strong so a recovery is expected to happen soon.
VeChain News Today – The Future Price Of VeChain Thor
Even if the price of VeChain is currently red, it has managed to hold the support at $0.005357. This would prevent it from reaching lower lows. Even if the price of VeChain is down in the day, it is up in the past seven and 30 days. The growth rate is decent. Thanks to the VeChain partnerships that have already been activated, the blockchain has a long way to go. Two VeChain partnerships that will promote adoption are the partnership with BYD, and Haier but there are many more in the pipeline.
3 Reasons Why VeChain Thor VET Price Could Rebound
VeChain, after rebranding to VeChain Thor early this year, is positioning itself as the platform of choice to champion IoT, Cloud computing, and Artificial Intelligence technologies. Here are the three reasons why the price of VET will rise soon according to the Usethebitcoin.
1.The DNV GL Group Partnership
Dabbed the ‘DNV GL-VeChain Digital Low Carbon Ecosystem,’ the partnership is aimed at advancing Det Norske Veritas and Germanischer Lloyd’s goals of sustainable development without hurting the environment.
DNV GL will develop smart contracts on VeChain Thor’s blockchain to calculate and record carbon reduction of individual enterprises. Such a unique usage of VET’s blockchain is bound to increase interest on the platform hence boosting the price of VET.
2. The Trusted Blockchain Traceability Solution
The VeChain platform is providing vaccine traceability solution in China after a pharmaceutical scandal rocked the country recently.
In VeChain Thor the Chinese government has a platform that can offer a superior drug monitoring and auditing solution. The drug tracing capabilities of VeChain are currently being tested in Shanghai before the solution is rolled out across the country. Now, the Chinese government will use the VeChain blockchain to capture and record vaccine data from manufacture, transport, storage, distribution to hospitals, and usage..
This type of partnership, trust, and ownership to have a positive impact on the price of VeChain Thor (VET).
3. The NTT Docomo Partnership
NTT Docomo is the leading telecommunication company in Japan. In their vision 2020, Docomo wants to provide a fifth generation (5G) high-capacity high-speed network across Japan. The telecommunication giant has selected VeChain as the first batch of partners.
VeChain noted that:
“with our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region.”
The service will be on board on the VeChain Thor platform. The partnership will see VeChain Thor reach out to cross-border enterprises thus expanding the adoption net of the blockchain. Such early developments will, without doubt, reflect on the price of VET.
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