Home Alt Coins VeChain (VET) Smashes 3-Month High With Stunning 14% Surge as Broader Cryptocurrency Market Stands Still

VeChain (VET) Smashes 3-Month High With Stunning 14% Surge as Broader Cryptocurrency Market Stands Still

5 min read

  • VeChain (VET) approaches $0.005 on Tuesday for the primary time since Aug. 12.
  • VeChain co-founder and CEO Sunny Lu will ship a keynote handle at The Capital, an upcoming trade convention hosted by CoinMarketCap.
  • The broader cryptocurrency market consolidates barely greater as the majors reported modest positive aspects.

VeChain’s token worth surged on Tuesday, reaching its highest stage in nearly three months after CoinMarketCap confirmed that the supply-chain administration firm will headline its upcoming trade convention in Singapore.

Although the information is 2 days previous, market individuals are lastly catching wind of VeChain’s potential to achieve extra mainstream publicity on the inaugural convention. There’s no telling whether or not The Capital can be successful or a failure, however the truth that it’s being hosted at one of Singapore’s oldest performing arts venues is an efficient indicator that persons are .

VET Price Surges

The worth of VET on Tuesday peaked at $0.004940, its highest in nearly three months, based on CoinMarketCap. The coin has gained practically 14% over the previous 24 hours, far outpacing most different cryptocurrencies.

By comparability, the broader cryptocurrency market appreciated by simply 1% on Tuesday.

VET additionally outperformed bitcoin (BTC), gaining 12.7% in opposition to the flagship cryptocurrency to commerce at 0.00000053 BTC.

VeChain is outperforming the broader cryptocurrency market when measured in opposition to the U.S. greenback and bitcoin. | Chart: coinmarketcap.com

At present values, VeChain has a complete market capitalization of $271.eight million, the place it ranks 31st amongst energetic cryptocurrency initiatives. VET’s worth has appreciated 22% this 12 months. The token peaked north of 0.0075 in early April.

Sunny Lu to Deliver Keynote Address at CoinMarketCap Event

CoinMarketCap is internet hosting The Capital, its “inaugural global event,” in Singapore subsequent week. | Image: shutterstock.com

VeChain announced earlier this week that co-founder and CEO Sunny Lu will ship a keynote handle at CoinMarketCap’s upcoming convention in Singapore. Nov. 12-13. His speech will delve into the real-world utility of blockchain expertise, specializing in VeChainThor’s integration with Fortune 500 corporations.

Lu’s identify seems alongside different influential folks from inside the crypto group, together with Binance’s Changpeng Zhao, Peercoin founder Sunny King and Jeremy Allaire of Circle. Paul Atkins, the previous commissioner of the U.S. Securities and Exchange Commission, can be listed as a keynote speaker.

VeChain goals to disrupt the multi-trillion-dollar provide chain administration trade via blockchain expertise and IOT integration, which permit producers to assign and observe distinctive product identifiers on the platform. The firm has largely flown below the radar this 12 months however is extensively regarded as some of the promising blockchain startups.

VeChain’s growing list of partners embrace a number of departments inside the Chinese authorities, Walmart, Haier, Group Renault and BMW. The expertise being developed by VeChain might be utilized to just about any trade the place supply-chain administration is important.

Disclaimer: The technical evaluation above shouldn’t be thought of buying and selling recommendation from CCN. The author owns bitcoin, Ethereum, and different cryptocurrencies. He holds funding positions in several cryptos however doesn’t interact in short-term or day-trading.

This article was edited by Josiah Wilmoth.

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