Vechain (VET) Price Spikes After BMW Verifycar Announcement, Can It Maintain the Momentum?

Vechain USD live price has shown great improvement today, after the announcement of the BMW VerifyCar service. Vechain news today is positive and it is a welcome development for the VET community. As reported earlier, only strategic partnerships can encourage mass adoption of the coin as well as impact the price positively. Vechain price prediction for the year seems to be taking shape now. But can it maintain the momentum?

VeChain (VET) Price Today – VET / USD

Name Price
bitcoin
Bitcoin
$10,086.92-2.77%
vechain
VeChain
$0.00495.46%

Vechain News Today: VerifyCar deal sealed by BMW

The price of Vechain started off around $0.004 in 2019. Since then, it has seen gradual and consistent growth. The digital asset had some moments of bearish impact. However, it reached its highest during the crypto bull run of April 2. The cryptocurrency saw 25% growth in merely 4 days. Sadly, the price of Vechain could not maintain the momentum. It is presently in the correction stages. The market cap and value of the coin has seen a 5.18% growth in a month as reported by coin market cap.

The platform has tried hard to secure its price with strategic partnerships. One of the notable partnerships includes Deloitte. This company is one of the big four and it plans to move its system from the blockchain of Ethereum to Vechain blockchain. This move would make Deloitte the second big four company to enter the blockchain of Vechain. PricewaterhouseCoopers was the first in the list.

In the Vechain Summit 2019, the company made another announcement that it will partner with BMW, an auto giant. The service to be implemented on the Vechain network was named VerifyCar.

Vechain Price Prediction: how has the price of Vechain responded to the implementation of VerifyCar?

This service was developed as a trace and track service using blockchain technology and BMW believes Vechain network is best suited to the task. It is made to reduce BMW odometer problem and uses a digital passport for each vehicle. All customers can now detect the maintenance history as well as the autometer of the car.

VET’s developers are focusin on innovation, intuition, and exuberance. This move is expected to raise the bar of Vechain price prediction for the year. The top vechain price forecast puts the coin at $0.25 by 2019 end.

What is Vechain price prediction for the long term?

Considering the growth trend of VET, it is clear that the price can touch $0.0048 in the coming weeks. Since it is still in a price correction stage, it could go downwards briefly. During the April 2 crypto bull run, the price of Vechain inflated heavily with other cryptos in the market. But this was shortlived as the bears took over again. However, in the middle term and long term, the coin is bullish. Some analysts believe that the price of Vechain will reach %0.01 USD by the year’s end and $1 by the end of 2020.

What is the price of Vechain today?

According to Coin market cap, Vechain is trading at $0.006411 with a 4.63% increase to its value. Vet is a cryptocurrency with a promising future. It has great potential and can spike higher than expected. The market may be volatile, but VET is one of those coins that are bullish to some extent.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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