After a successful VeChain (VET) independence went live on 30th July, the price has been on the downside. This has been complicated by the market inability to hold. However, the digital asset is headed to the stable zones as the NEN to VET token split of 1:100 ration comes to a close. The event will see new VET coin holders receive 100 VET coins for every 1 VEN ERC20 token.
As anticipated, the VET price drop is short-term and a build up for a more vibrant and value oriented coin. With the mixed Altcoin fortunes in the crypto verse, VeChain is among coins that are solidifying their position and the last 2-hour trading has seen the coin skyrocket massively with 33.11% to trade at the weeks’ high of $0.010512.
VeChain (VET) Trading on KuCoin Exchange
With increased market liquidity, the spike might not hold but VET price is poised to remain stable for the rest of the week. With KuCoin opening VET withdrawals in less than 24 hours from the rime of reporting, a lot of activity is anticipated and the value is likely to scale up. However, traders are holding their horses in fear of speculative whale manipulation to cash in on the boom.
KuCoin opens withdrawal services of VET at 14:00 (UTC+8) on August 17, 2018. https://t.co/GSpM1ownDz.
— VeChain Foundation (@vechainofficial) August 16, 2018
Away from the KuCoin boost, VeChain is designed in a way that it is not limited to the digital asset hype. It can be harnessed to support real world businesses. As a link between the crypto world and real enterprises, companies are warming up to onboard. It is a future hub for dApps and since its data depository is distributed, it offers a safe platform for any future looking business entity.
VeChain THOR (VET) and BMW Partnership
After the Mainnet launch and brand transition from VEN to VET, the new look coin has announced a partnership with one of the most respected auto brand in the world; BMW. The deal will give VET additional visibility and cut its niche in the auto industry. While announcing the good news, Sunny Lu, CEO and head of the project was optimistic that the collaboration is just the beginning of many partnerships VeChain THOR is working on.
To back its technological arm up, VeChain has again made an announcement that they are working with the Oxford University to take the project to where it should be in the near future. This is a strategic partnership that will tap into young minds to bring new ideas to the network.
On its route to the market strategy, VeChain got listed on Coinest, a crypto exchange based in South Korea. Through the deal, VET has been paired with fiat currencies listed on the platform as a move to popularize the new coin in the market. Interestingly, VET has been paired with VEN, an arrangement that will see fast VET indexing, adoption and usage. This is what many investors were baying for since it makes the coin a good return on investment choice before ushering in 2019.
Close Focus on VeChain (VET) Price
This is a relatively a new entrant in to the crypto verse in many aspects and for the last one week has seen the asset trade in a low liquidity market which is a huge test on its future stability. The coin is still in the “beta” stage and has all indications of a success going by its resilience in the market since the Mainnet.
The coin is just days old after the turbulence it went through during the token swap and the current stability mean high chances of price and value traction. Once the sharing of nodes becomes defines between the two coin, VET will be able to control circulating volumes and hence boost the market price and subsequent value.