Vechain Secures Partnership Deal with BMW – Will This Increase Price and Mass Adoption?

The price of Vechain on its twenty-four hours time frame indicates a downward trending channel that the digital currency currently is stuck in. However, Vechain (VET) is presently at the bottom line of that channel and it is expected to rebound in the short-term. The recent price action of Vechain (VET) has not been what a profit-oriented digital asset investor is expecting.

However, Vechain has been trying in its own little way. The price of Vechain (VET) has not been really impressive but many analysts and digital asset investors believe it is going to rebound very soon. This can also be seen in the bullish Vechain price predictions and VET price forecast. VET USD live price is currently in the red, will Vechain’s partnership with BMW boost the price of Vechain (VET)?

Vechain Takes Its Partnership with BMW to the Next Level – Best Cryptocurrency to Invest in 2019?

Vechain just made a strategic announcement in the Vechain Summit 2019 that took place in San Francisco. During the summit, the crypto project disclosed the next phase in its partnership with BMW – a giant in the automobile manufacturing industry. According to the firm, the new service on the Vechain Thor network is called VerifyCar.

This new service – VerifyCar – is a digital passport that aims to tackle mileage fraud issues. The issue of mileage fraud is present in more than 30 percent of cars in Germany, according to the announcement. The new service lets users keep track of their odometer and maintenance history. The Lead IT Tech Office of BMW’s Singapore office – Cihan Albay – was also present at the summit. While speaking on stage, Albay said:

“Vechain has gone through the Startup Garage program of BMW successfully and BMW is still working with the blockchain project on a client-based relationship.”

The partnership between BMW and Vechain was announced last year. The two entities have been working together in the Startup Garage Program of BMW to create blockchain-based applications. The Shanghai-based project previously said that Deloitte – the professional service firm of Big Four – will move from the blockchain of Ethereum to the blockchain of Vechain. If this happens, Deloitte will be the second Big Four company to join the blockchain of Vechain. The first Big Four company to use Vechain is PricewaterhouseCoopers.

Vechain Price Analysis – Vechain Price Prediction – Vechain Price Forecast – VET USD Live Price

As the rest of the crypto market, the price of Vechain is tied at the hip of the price action of Bitcoin (BTC). If the price of Bitcoin (BTC) surges higher, the price of Vechain may follow suit. Bitcoin price recently plunged lower, so did almost all the top digital currencies in the market. Bitcoin is currently trading in the red, and a similar trend is seen across the entire market.

VET price is currently hovering around the $0.00645 level. The digital currency was initially trading over that level but was capped at the $0.0070 level. At the moment, the immediate support of the coin is at the $0.0062 level. On the upside, Vechain needs to break over the $0.0066 resistance level in order to amass more gains.

VeChain (VET) Price Today – VET / USD

Name Price24H (%)
Bitcoin (BTC)
$7,799.00
-1.37%
VeChain (VET)
$0.007626
-1.43%

At press time, VET USD live price is $0.00645 after an increase of just one percent over the past day. The current market cap of the digital currency is $357.52 million. The trading volume of the digital currency over the past twenty-four hours is $15.23 million.

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