Over the last one month, the overall cryptocurrency market is showing sideways momentum. The overall market looks bearish with some hops of upswings seen in between. While Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are hogging the majority of the limelight, VeChain (VET) is preparing for the next big move.
HitBTC Lists VeChain (VET) Token on Its Platform
Popular cryptocurrency exchange HitBTC has recently listed VeChain (VET) token on its exchange platform. It is a good news for VET as the token will get a big push in terms of liquidity.
In addition to fiat USD, HitBTC customers can also purchase VET tokens against BTC and ETH. The token is currently trading at a price of $0.013 USD with the trading volumes at around $15M USD.
With a market cap over $700M USD, VET ranks as 19th most-valued digital currency on the market.
VeChain – The Ethereum of Enterprise Solutions
Developed by a Singapore-based non-profit foundation, the token’s blockchain is referred to as the Ethereum of enterprise solutions. It has a wide range of industrial applications bringing transparency in business processes.
The VeChain blockchain has the most efficient use-case of quality control in supply chain management. Its blockchain-powered cloud service can also work in tandem with IoT devices.
For example, the token recently partnered with European luxury brand to embed NFC chips in its leather product lineup. This enables authentic product verification by the customers, thus reducing cases of cheating.
Another practical use-case of the VeChain blockchain is in the car industry. Manufacturers can upload all car details like car servicing, spare parts replacement and their authenticity, car insurance, accidents, theft records, and more on its blockchain network. This information can be exchanged among all the participants within the vehicle’s entire life-cycle. It helps to establish transparency in the overall process.
The VeChain blockchain also finds important application in the agriculture sector. It can do accurate and real-time surveillance of the farm, yielding better farm produce while improving the output.
Needless to say, the application possibilities of the token across multiple areas seem to be endless.
VeChain ThorNetwork Attains Major Milestone
Yet another interesting development is that the VeChain ThorNetwork attained an important milestone in terms of the registered accounts. It shows that a higher number of individuals and companies are adopting its numerous and promising blockchain solutions.
This week, the total number of registered accounts on the ThorNetwork crossed 50,000. It is certainly a positive sign of growth and development for the VeChain community.
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