Home / Crypto Currency / VeChain Price Uptrend Continues due to Real-World Technology Potential

VeChain Price Uptrend Continues due to Real-World Technology Potential

All of the major cryptocurrency markets continue to note impressive gains as more time progresses. Further down the rankings, most of the altcoins also remain firmly in the green, which is a very promising sight to behold. VeChain continues to truck along nicely, primarily because things are clicking together behind the scenes.

VeChain Price Climbs Higher

It is evident there are a lot of opportunities in the cryptocurrency industry these days. Altcoins often pursue very different use cases compared to Bitcoin, albeit not all of them will be successful in this department. VeChain appears to be successful, so far, as their technology has some real-world potential. More importantly, it is already being turned into working products and services.

This has triggered another VeChain price rise over the past 24 hours. A net 4$ gain in USD value and a 2.15% gain over Bitcoin paint a very interesting short-term future. The VET value has also surpassed $0.011 again, and it will seemingly hit $0.0125 in the hours to come. There’s also a good chance VET will hit 200 Satoshi later this week, if this momentum remains in place.

The big developments this week come in the form of new announcements and exciting services. The Bright Code project offers a lot of potential in this regard, as it is one of the first “services’ to be released as part of the VeChain-DNV GL partnership. Making it easier for consumers to track the origins of products is of the utmost importance, and it provides a real-world usability factor as well.

To see the project in action, a working link has been provided to provide information about a specific product. The information is stored on the VeChain blockchain and offers a lot of interesting details regarding the item itself. This further shows there is a ton of potential waiting to be explored where VeChain is concerned. That alone will catapult the price to higher levels over the coming weeks and months.

Even the technical indicators are promising where VeChain is concerned right now. There is some solid momentum brewing, which should result in even bigger gains in the next few hours. No massive uptrend is expected, for the time being, but this current slow-and-steady approach seems to work out quite well for all cryptocurrencies.

All of these indicators point toward an interesting second half of the week for VeChain. While this market momentum can take a turn for the worse at any given moment, one also has to acknowledge things look extremely promising, for the time being. Sustaining this momentum for a longer period of time will always be challenging, as this industry remains subject to a lot of market volatility first and foremost.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.