Can VeChain (VET) Regain Stability Amid The Volatile Altcoin Market?

VeChain News Today – It’s no more news that the cryptocurrency market is a state of flux. The volatile nature of the cryptocurrency market has affected every coin in the cryptocurrency market. Most have been affected negatively while a few have been able to shoulder the pressure without caving in. the Vechain may not be a household name in the cryptocurrency industry as they are a blockchain that doesn’t behave like the common cryptocurrency assets.

VeChain News Today – VeChain Latest Update – Cryptocurrency News Update – VET Price Prediction

Vechain is a blockchain project created to give IOT based services. The main aim of the blockchain is to help in the collection and exchange of data as well as its management. Some use cases for the VET are assets authentication, simplification of product maintenance and tracking of goods. Unlike the other coins, the VeChain coin is targeted to a certain market niche and the coin was developed to provide services for specific use cases.

VeChain (VET) Price Today – VET / USD

NamePrice
bitcoin
Bitcoin
$8,272.92-0.40%
vechain
VeChain
$0.0035-1.04%

VeChain news today learned that the VeChain Foundation went on social media to talk about their project on OceanEx that has been of tremendous benefit to the X node holders. The price value of the VET is $0.00465 and a VET price prediction shows that the price may still rise today. The Return On Investment for the VET is -69.59% showing the VET has been going through a bearish period that has dropped the price below the initial value. The VET has a market cap of $253.6 million. The 24-hour volume for the coin is $21 million with over 55 billion coins in circulation.

The VET rose to $0.00476 last night, reaching its highest value. The price then dropped to $0.00446, showing a loss of 6.30%. In a move that made investors happy, the VET rose by 6.35%to get to $0.00474. In a see-saw pattern, the priced dropped again by 7.12% bringing the value of the VET $0.00441. The price climbed up by 5.43% to its present position. The VeChain volatile nature is only a reflection of the current trend in the cryptocurrency market. Fortunately, VeChain happens to be one of the few coins that have shown signs of growth during this period.

VeChain News Today – VeChain Latest Update – VeChain Still Pulled Into A Bearish Orbit – VeChain Price Prediction – VeChain Prediction 2019

The VET continues to bear bearish pressure as the cryptocurrency market remains volatile and unfavorable for many cryptocurrency coins. The VeChain price prediction expects the price of the VET to begin to show a positive rise and overcome the bearish pressure presently being imposed on it. The resistance and support levels are expected to keep the VET coin from falling into the unpredictable nature of the cryptocurrency market. The resistance levels are currently at $0.00503, $0.00490 and $0.00473 while the support levels are at $0.00442, $0.00429 and $0.00412.

Though VeChain platforms provide solutions to specific markets and for specific use cases, the VET market cap happens to be the biggest in that market. VeChain provides retailers and consumers the means of determining the authenticity of a product and the quality through solutions that utilize tamper-proof technology. From an end-to-end solution, VeChain provides a supply chain system that can record and verify product source materials, replacement of spare parts and service history. VeChain hopes to achieve this management ecosystem through asset digitization by allowing manufacturers to assign products with unique numbers that can be tracked.

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.

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