VeChain News Today – VeChain has been on fire all day with the price outperforming almost every cryptocurrency on CoinMarketCap. Per our previous cryptocurrency news update, the price of Bitcoin, Ethereum, XRP and other altcoins have been correcting lower against the USD following the recent minor bull run. While CoinMarketCap is painted in red with the bloody sell-off, VeChain is up by more than 12% at the time of writing. Among the top five cryptocurrencies, the only one that isn’t in red is Litecoin. The digital silver is up by more than 3%. So, why is VeChain outperforming the rest of the market and what effect will this have on the VeChain Thor price prediction 2019?
VeChain News Today – VeChain Thor Price Prediction 2019 – Why Is VeChain Surging?
In our previous VeChain news, we noted that the VeChain Thor price prediction 2019 is bullish because of a number of factors. The VeChain partnerships alone have set the stage for a successful future for VeChain. On Tuesday, there was an announcement from the VeChain Foundation. According to the announcement, the Chinese branch of Walmart teamed up with VeChain to work on innovative ways to address food safety concerns using the VeChain blockchain. The press release noted that the project will have at least 50% of its sales recorded there.
According to the publication by Waltmart, they joined forces with VeChain and VeChain’s partner PwC as well as some other relevant bodied. Using the Blockchain Traceability Platform, Waltmart has already listed 23 product lines and would make that number 100 before the end of 2019 per our previous VeChain news. The product lines cut across 10 categories.
By simply scanning the products with their smartphones, customers can get detailed information about the product ranging from its origin, inspection reports, ect. At the time, the post from Elton Yeung was as follows;
“We believe that Walmart’s Blockchain Traceability System will be an excellent example of blockchain technology applied in the retail industry, helping to improve food safety and quality management, and providing a strong guarantee for building consumer trust.”
VeChain News Today – VeChain Latest Update – Current Price Of VeChain – VET Latest Update
At the time of writing, the price of VeChain was $0.008912. This means that it is up by 12.33% against the USD and up by 15.92% against the price of Bitcoin. The trading volume over a 24 hour period is $88,057,886 and the market capitalization is $494,199,630. The flagship cryptocurrency, Bitcoin, is currently correcting lower against the USD and BTC. It is trading at $11,187.64. This means that it is down by 6.82% against the USD. The trading volume over a 24 hour period is $26,908,087,881 and the market capitalization is $199,024,244,836.
Since the price of the VET coin is rising while other cryptocurrencies are falling, there is a high chance that the price of VET will correct lower while others start recovering. So, you should not be surprised when you see that the price of VET is moving lower against the USD in the next few trading sessions. Long-term, the future of VeChain VET is bright. There is a high chance that it will test $1 before the end of next year. Considering the current price action, VET should test $0.900 by the end of this year.
What do you think about the VeChain Thor price prediction in our VeChain news today? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
