VeChain (VET) is one of the few Blockchain technology and internet of things companies that have tried to incorporate the technology involved in those processes into real-world use cases. Ever since Blockchain technology exploded onto the tech universe in the early part of this decade plenty of such companies have been established and VeChain was established in 2015. However, it is also important to point out that the company eventually launched its own cryptocurrency on the VeChain Blockchain.
The existing corporate partnerships that the company enjoys gives it’s crypto token VET a distinct advantage over many early stage tokens. It has tied up with payment company Zeux and that would enable the VET token to be used as payment on widely used services like Apple Pay and Samsung Pay. Such real partnerships can certainly go a long way in making VET token a potentially popular cryptocurrency.
The coin has enjoyed an exceptional bull run over the past month or so, having reached the price of $.0075 at one point but then settled at $.0057. However, the Bitcoin rally that took place this month has started the surge against and took the price to $.007822. VET is trading down by 7.50% at $0.0071.
At the time of writing, the total trading volume for VET token is close to $25 million and has a market cap of $433 million. As of now, the token has primarily risen due to the rise of Bitcoin and due to the general prosperity of almost token. However, the real test will come when and if the crypto space goes through another sustained bear run. It will then be possible to see whether the coin as real resilience.
Despite being relatively cheap crypto at this point in time, it needs to be remembered that if VeChain gains mass adoption then the price could end up anywhere.
The power behind the VeChain token lies in its Blockchain technology known as ToolChain and that can have a wide range of functions for businesses at some point of time. The range of services that the ToolChain Blockchain offers is quite diverse and according to many experts, it can be used for product management, logistical management and process certification by enterprises.
More importantly, it is a scalable technology and can be deployed strategically by businesses of all sizes. In such a situation, it goes without saying that the VET token has the potential to be used universally and adopted at a mass level. If that happens, then the price of the token could be significantly higher. Sign Up Below to Follow VeChain and Other Breaking Cryptos.