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VeChain (VET) Climbing Back Up The Charts

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VeChain
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The Cryptocurrency market, on the whole, is still recovering from the after-effects of the slump experienced at the beginning of the year, and most cryptocurrencies have taken quite a beating. Bitcoin, Ethereum, and Ripple have experienced declines of 44%, 40%, and 74% percent respectively this year as compared to their position last year. Market sentiment was mostly negative earlier this year, with the news of regulatory crackdown and data breaches, fuelling negative investor sentiment. However, very few cryptocurrencies have withstood these turbulent market conditions, with one of them being VeChain (VET).

 VeChain’s Current Market Position:

VeChain (VET) is a part of the larger VeChain blockchain project, having been introduced in early 2007 as a Facebook App. The currency soon grew exponentially, with VeChain tokens becoming the first digital currency to trade in regulated forex markets, namely the LMAX Exchange. At the time of writing, VeChain is ranked 16th according to coinmarketcap, with a market cap of $1,876,848,230 USD and is presently valued at $3.57 USD. Analysts are certain that VEChain avoided a massive slump because of its unique but effective price structure, where holders are entitled to voting rights and are rewarded for holding coins for a longer time.  As a result, it has attracted investments from industry big names, such as Jim Breyer and Tim Draper along the way.

Reasons behind VeChain’s Upsurge:

In a period where the Cryptocurrency heavyweights were all facing losses, with Bitcoin and Ethereum dropping considerably, VEChain has in fact increased in value, by almost 25% (approx.) since the beginning of the year. Much of VeChain’s success can be attributed to the solid development team it possesses, the generally respectable reputation it enjoys within the industry as well as regular tie-ups with big industry names. Since it’s launch, VeChain has made many in rows into corporate partnerships, with BMW, Michigan State University, Oxford University Math, PwC Asia, and Chinese consulting firm NRCC to name a few.

Below are a few factors explained in brief, which are directly behind VeChain’s success!

  1. VeChain’s Tie-Ups: As mentioned before, VeChain has completed many successful partnerships with big names in the past, and 2018 isn’t any different.  The recent developments include the integration with AssetLink to create a decentralized application called AssetLink manager. The AssetLink manager platform employs a mix of IOT technology and sophisticated AI and cloud computing.  Besides this, VeChain also announced a partnership with cloud computing and chain supply company Smart Corelink. The fruition of these partnerships can only bring good news to VeChain, who are hoping to extend their reach and encourage mass adoption of its technology.
  2. Authority Masternodes: The VeChain Dev team announced their intentions to make some crucial improvements to the VeChain system. In particular, the VeChain team is looking to select users for awarding rights to the usage of Authority.  The full node in question is called “VeChain Thor” which is backed by Authority Masternodes. Its sole purpose is to produce blocks as well as performing a superior authentication process for the aforementioned blocks. Users just require their own server and 250,000 of VET (VeChain Thor Tokens) to be eligible for this program.
  3. Future Plans: The VeChain team has more projects lined up for the second quarter of 2018, including the possibility of a full-steam node. This can be evidenced by VeChain’s recent project with Content platform iTaotaoke which aims to use blockchain technology to develop a proper of authenticating content.

Final Thoughts:

VeChain’s value has been increasing slowly and steadily, jumping from $2.56 on April 10th to $3.31 on April 18th. In spite of this, VeChain’s price continues to struggle to match up to its all-time high of $9.43. That being said, VeChain is certainly in a favorable position than the likes of Bitcoin, Ethereum, and other highly ranked crypto-projects. With investor sentiment mostly positive, the future prospects of VeChain look indeed bright with a strong community and strategic partnerships being the key.

We will be updating our subscribers as soon as we know more. For the latest on VEN, sign up for our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Boss Tweed via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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