As we have been following up with dozens of different currencies that suffered from grave loses, for example Bitcoin fell to a bit over 6000$ per one unit, which is pretty alarming for a top coin, so we forgot to mention the only exception in the world of digital values that managed to outlive the market crisis as if it never happened – VeChain. While all other currencies were dropping dizzily losing billions of dollars in the total market cap of all tradable and exchangeable tokens and coins, VeChain was trading in the green for the entire time as if the market dip wasn’t even in power. How come VeChain managed to come out as a definite winner in the storming market crash while other currencies were dropping and how is VET doing at the current moment?
VeChain and the Market Dip
The first wave of the crashing market lasted for 8 weeks straight which left many investors and holders wondering whether investing in cryptocurrencies is even safe, so we’ve seen coins dropping at a pretty alarming rate, taking billions of dollars in the total market cap of all trading currencies. Later on, we witnessed to what truly came as a refreshment, as many coins had a chance to bounce off and collect some gains while trying to exit the devouring whirlpool of the market dip, two weeks ago. During approximately 5 days, the majority of coins have experienced rises, but the mentioned gains weren’t enough to catch up with the amount that was lost in the market crash. Then, once again, we have witnessed another wave of the crashing market, with the majority of coins experiencing devastating drops.
And if you think that during all that time when holders and investors were biting their nails over the money that was lost during the dip, VeChain holders and enthusiasts could just lay back and relax while observing their favorite currency slowly rising at a very stable pace of growth. How come VeChain was the only exception left out of the market dip while other coins had a hard time while trading in the red?
Not only that VEN managed to survive the market dip as the definite winner in the world of digital assets, but it also managed to collect gains of 128% of rises in its price since the beginning of January, making it also one of the top gainers during the last couple of weeks.
VEN is currently among the top 20 cryptocurrencies according to global coin ranking list, specifically holding the 18th place on the list of top crypto assets. So, while the crew in the top twenty was the one to suffer from gravest losses, VEN was steadily rising up towards the current percentage of total gains since the beginning of 2018, which was originally predicted as THE year for blockchain technology and cryptocurrencies.
This is a pretty big deal for VeChain as this currency wasn’t always doing this well. In case you were following up with VET since this currency was first launched and set for live trading, you possibly remember how VEN started the current year with trading above 2$ while climbing to over 8$ per one unit at the end of January 2018. When compared to the current price, although VET is still stubbornly trading in the green (huge yasss! for HODLers), VeChain is still out of its top shape.
Now, the burning question is: How VeChain managed to survive the massive market dip when all other currencies were dropping for weeks?
How VeChain Survived the Market Dip
VeChain is on top of the hill and one of the rare currencies among over 2000 actively traded digital assets that didn’t suffer through the market dip. The severity of the most recent market crash can be viewed in the fact that Ripple lost nearly 80% of its value shown in the market price, while Ethereum and Bitcoin went down by 45% and 41%. So, how come VeChain didn’t go under these horrible changes in the price?
It seems that VEN is practicing a more stable pace of growth while trading in the green for a prolonged time and without sudden and unexpected losses by working on implementing novelties and concluding different partnerships while working on the roadmap set by the dev team behind VEN currency.
What might be the main reason for managing to establish such a stable pace of growth, while acquiring a stable value as well, is the fact that VeChain platform is offering amazing rewarding plans for their investors, showing them that investing in VeChain supports the bright future of decentralized blockchain platforms while also paying off to investors along the way.
VeChain has constructed their platform with voting incentives that guarantee the right to vote in case you have invested in VEN. The main policy of the platform is: the more you invest, the more you get. That means that the big-time investors are guaranteed with more voting rights as well as with greater rewards. More voting rights actually mean that you have more chances to vote your favorite suggestion up and all voters, aka, investors and holders of VEN currency have an intake in the future of their favorite coin of choice. And rewards, well, who doesn’t like being rewarded?
In the end, it all comes down to how involved a certain dev team is when it comes to pushing their currency up. That is how every project they take over counts as a huge plus to the market value as well.
VeChain and Current Projects
No wonder the general interest investors are having for VEN is increased as the dev team behind this currency has just introduced the public with Distributed Data Vending. Distributed Data Vending represents a part of the VeChain’s network that allows the owner of data to easily share the owned data with chosen parties through a secure way of data sharing through the blockchain network system. This way, data owners can easily list their data and arrange the circumstances under which the owned data is shared. Data owners can also apply for compliance after listing the owned data. The second party, viewed upon as data consumer, can then acquire the data that way gaining the access to the shared data by purchasing the rights at low fees while operating in VeChain’s platform. VeChain has announced that Distributed Data Vending protocol is currently being worked on for improvements and finishing touches and should be released very soon.
The biggest announcement yet, however, is the launching of the new VeChain Main Net where VeChain THOR will be available for use. The launching of the Main Net along with the release and issuance of VeChain THOR is set for June 30th of the current year of 2018 and will probably sky-rocket this currency.
The team behind VEN currency and VeChain Main Net is also planning on getting involved with decentralized applications, using technology that is similar to what Ethereum is using for Dapps.
After the launching of the Main Net, there will be two tokens set on the platform, VeChain Token (VET) and Thor Power (THOR), which will be used for different purposes on the Main Net.
How is VeChain Doing at the Current Moment?
The absolute gainer of the market dip, nearly unaffected and unharmed when opposed to the rest of the crypto community, is still trading in the green while growing at a pretty stable pace of growth.
After the most recent change, VET managed to jump up for another 8.17% against the dollar, which helped it led it from hovering around 1$ per one unit to trading at 2.45$ per one unit at the current moment.
This token is surely progressing steadily but certainly, both in the field of technological improvements and partnerships and in acquiring a stable pace of growth while trading up against the dollar even in the middle of a market dip hurricane.
VET could go a long way up before the announced launching of VeChain Main Net that should occur by the end of June of 2018.
We will be updating our subscribers as soon as we know more. For the latest on VEN, sign up below!
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 Brad.K via Flickr
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
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Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
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- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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