Why VeChain Will Launch New Thor Upgrade Amid The Bearish Trend In Altcoin Market And What This Means For VeChain

VeChain News Today – On July 22, the Thor upgrade v1.1.2 upgrade rolled out by VeChain (VET) will become active on the mainnet. The introduction of new opcodes of ETH_CONST is a major feature of the new upgrade. Significant changes in this upgrade include fork configuration for custom network and the introduction of a virtual machine for gas paid through extension built-in contract. This upgrade also has an improvised consistency of the important database and an extended transaction model which will support VIP-191. Users of the blockchain are requested to upgrade their nodes without delay.

VeChain News Today – VeChain Thor Price Prediction – VeChain Latest Update – VeChain Continues to Forge Ahead

VeChain’s platform has become a leading enterprise-level blockchain worldwide. Singapore-based company’s partnerships with significant brands such as Louis Vuitton and Walmart have aided its expansion. The blockchain has improved the delivery system by allowing users to verify the authenticity of products and track them. Earlier, on July 3, VeChain recorded a major milestone as it hit one million transactions. This development indicated the vast adoption of the blockchain solutions provided by VeChain for the supply chain.

VeChain (VET) Price Today – VET / USD

Name Price
bitcoin
Bitcoin
$10,271.030.510%
vechain
VeChain
$0.00462.02%

Despite the stability in its price in the last few days, VeChain still trades in the red zone. VeChain’s coin, VET, traded around 0.00733731 USD on June 19. Unfortunately, the cryptocurrency is currently trading at a dip of 13.39%. This significant plunge occurred within 25 days. VeChain Price Analysis showed a similar dip in the VET’s weekly charts. The altcoin that traded at 0.00752564 USD on July 8 has fallen by a substantial margin of 14.95%. The market price of the coin has remained stable for some days. However, VET is expected to break out from the bearish trend.

As at UTC 07:12 on July 14, VET traded around $0.00635462 and 0.00000057 BTC. The 24-hour trading volume of the coin was 20,157,414 USD and market capitalization of 351,769,854 USD. The circulating supply of the altcoin as at the time of the report was 55,454,734,800 VET. Though in the negative, the ROI of the VET was recorded at 57.82%. VeChain Price analysis revealed that VeChain is currently placed at the 33rd slot in the cryptocurrency chart.

VeChain Price Prediction – VeChain News Today – VET/USD – Bullish Trend for VET

VeChain Thor blockchain provides solutions to real-life problems. With the recent upgrade, the platform will offer more blockchain solutions and achieve a broader user base. According to VeChain Price Prediction, the market price of VET will soon rise. The fluctuation in the altcoin’s price has become stable.

Expectations are high that the coin may hit 0.05 USD by year’s end. Currently, the immediate resistance level of the crypto is at $0.00697167. Its immediate support is expected at $0.00611467.

The recent upgrade will improve the VeChain Thor blockchain. With notable changes of the upgrade, VeChain will provide better and more blockchain solutions to users. Besides, it will generate positive news about the blockchain and aid its adoption. The VeChain team expects VET to surge as a result of the upgrade. Despite the short term bearish trend the coin is experiencing, VeChain Price Prediction suggests a long term bullish run will soon start.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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