Vechain (VEN) cryptocurrency is proving to be one of the most stable crypto coins in the market. It is among the crypto coins that were not very much affected by the general bearish trend that was witnessed across the cryptocurrency markets.
Vechain (VEN) only saw a 68.5% drop from $9.45 USD to $2.98 USD. This was quite a success to the Vechain Development Team, considering that the rest of the cryptocurrencies saw more than 80% drop in value. Again, after the small decline in value, VEN then put its best foot forward and rose again to $7.07 before the current retracement which has taken it to $4.37 USD.
Actually, the retracement seems to also be coming to an end and the crypto coin will resume its bullish trend. Even by looking at the current $4.37 USD, it is still quite an improvement from the low of $2.98 USD that the VEN registered during the decline.
Why bank on the stability of Vechain?
Over the years, Vechain (VEN) has been rooting to have its blockchain network established across the globe. It has successfully achieved this by offering solutions to various businesses starting from agriculture, luxury goods and liquor stores. The cryptocurrency has been able to provide a blockchain solution to each of the above industries.
The diversification of the use cases of Vechain has helped it stay afloat even during the past tough times. The crypto coin has proved to be quite stable and a great investment opportunity.
Vechain has also been successful in deploying approximately 111 nodes throughout the world with the major concentration being in England, Japan, Germany, China and Korea. In the coming months, the number of nodes will surely multiply.
Is it a good time to purchace Vechain (VEN)?
For traders who are looking for a coin to invest in, Vechain (VEN) is the coin to go to. If an investor purchases it at the current price, he/she will be guaranteed of much profits once the coin takes off for the moon. Actually, this is the time to invest; if you wait too long you may lack another opportunity given the much promising future of the coin.
With the current market strength, Vechain (VEN) will soon surpass its previous all-time high of $9.45 USD.
Currently, all Vechain (VEN) investors are eyeing the $8.0 USD level, which is just about $3.7 USD from the current price. Once the coin breaks this level, it will be all lights green for breaking through the $9.45 USD level too.