The VeChain blockchain is different from any other blockchain because it uses the proof-of-authority consensus mechanism rather than the proof-of-work that Bitcoin uses. Also, it is the first blockchain that was created specifically for the supply chain management sector. It has all the features of a decentralized blockchain but it is also easy to manage like a centralized one. This is why the VeChain blockchain has been nicknamed the Ethereum for business. This is one of the factors that makes VeChain attractive for businesses. In fact, VeChain is going to be one of the blockchains that would take the lead in the next industrial revolution.
Apart from its unique properties, the VeChain Thor blockchain has been able to gain popularity because of the VeChain partnerships. Ever since the VeChain mainnet launch and the VeChain token swap, the VeChainThor blockchain has been attracting partners. These VeChain partnerships have been promoting the VeChain Thor blockchain and supporting the VeChain VET token price.
VeChain News Today – VeChain Blockchain to Italy Market
During the VeChain summit, Sunny Lu, the CEO of VeChain, was in a discussion with the Italian Prime Minister. Considering the fact that Vechain already made a move into the Italian market by entering the wine industry, talking directly with the government will only speed up the adoption of VeChain in Italy. Let’s not forget that the VeChain development team also recently launched the VeChain Thor V1.1.0 on the testnet. This gave the price of VeChain VET a spike.
VeChain Thor Price Prediction
VeChain (VET) Price Today – VET / USD – VET Coin Price
| Name | Price |
|---|---|
 | $0.00 |
 | $0.00 |
Over the last one month, the price of VeChain VET is up by 14%. In January, the price of VeChain VET was $0.003958. This means that it is up by more than 100% within the last 4 months. At its current growth rate, it’s only a matter of time until VeChain VET hits the predicted $0.50 level. The VeChain Thor price prediction 2020 places the price of VET at $1 before the end of the year. So, long-term traders are encouraged to hold.
VeChain Thor Price Analysis
The price of VeChain VET is no longer stalling as it was at the beginning of the year. Now, VeChain VET and almost every other altcoin in the market is surging significantly in altcoin season. They are outshining the flagship cryptocurrency, Bitcoin. Even if the price of VeChain is up significantly from the beginning of this year, the bulls have just begun and a more significant rise in price is coming soon.
As a digital asset investor, you need to prepare yourself for the upcoming surge in the price of VeChain if you want to benefit from it. Per our previous VeChain Thor price prediction, the VeChain partnerships and developments will lead to a surge in the price of the VET token. The current price action of VeChain is evidence of the power of the bulls.
The current trend for VeChain is presently neutral until price action can close above the $0.00822 level. For this market to be considered bearish, we would need to see VET break beneath the $0.0057 support level.
If the buyers can break the resistance at $0.00822, they will meet immediate higher resistance at the bearish .618 Fibonacci Retracement level (drawn in red), priced at $0.008371. This bearish Fibonacci Retracement level is measured from the November 2018 high to the December 2018 low.
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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.
