Cryptocurrency

New Partnerships May Cause a Bull Rise for VeChain

VeChain (VET) Thor has spent quite some time establishing itself as a reputable supply chain technology in the Blockchain industry. It is positioned 10th on the global blockchain patent ranking.

VeChain has one of the most efficient Distributed ledger technology (DLT) around. Recently, Sunny LU, the CEO of VeChain met with the Prime Minister of Italy and a possible partnership is brewing.

Amid the partnership gossip, Vechain dragged along with other crypto on the upside trend, with bullish signals that makes VET eye the $0.25 price value by the end of 2019.

VeChain (VET) had grown at a steady pace during Q1 2019. The price of the coin as at the time of writing is $0.008040, a 5% value increase against the USD and 6% against BTC. In February VET was at its lowest at $0.00369114.

Also Read: Bitcoin To Break ATH Before November, $65k Targeted For March/May 2020 – Analyst

Chart indications from the last seven days show a Vechain attained a high price of $0.008205 and a low of $006959. Due to the strong anchor Vechain holds against its support level since 30 days ago, there are high expectations that a quick recovery is in place for Vechain more importantly due to the signalling partnership.

New Partnerships may Cause a Bull rise for VeChain

The present increase of VeChain has been attributed to its numerous partnerships. The digital coin had entered into a partnership with three major Norwegian firms to increase its profit margin.

Also, Vechain has partnered with BMW and Deloitte. On May 13th 2019, VeChain declared allaince with Chinese-based Renji Hospital, which handles over 2.1 million emergency cases as well as outpatients yearly.

Now that the CEO of Vechain met with the prime minister of Italy at the SEEDS and CHIPS Global Food Innovation Summit in Milan, much is surface from the meeting in favor of the two parties.

Even though there are speculations that VET isn’t adding up price because most Vechain’s partners do not utilize the token, it is clear that Vechain is the engine room that shoulder VET’s activities. Therefore, the latter is sure of enjoying the juice the former sucks from its partners.

The major possible reason behind the coin’s unyielding growth is probably due to the plummeting market situation. Now that the market seems to have returned into shape on the rising wedge, much is expected from the native token of Vechain, VET, and there are prediction that the coin might likely hit $0.25 or even $0.5 by the end of 2019.

Do you think VeChain’s partnerships will have an effect on the price of the VET tokens? Share your thoughts with us in the comment section below.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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Rebecca Asseh

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