Is VET Supporting XEM? Update Notes: VeChain (VET) News

The global increase of crypto-currency purchase and the development of teams and communities behind each ecosystem are trying to force each other to persuade consumers to manage their brands.

VeChain (VET) and NEM (XEM) are two market players in which observers consider themselves competing, but interrupt different industries while complementing each other in real-world service and product offerings.
The VeChain value proposition is based on the blockchain as service delivery and has completed a function where Ethereum is lacking to fill the incomplete gap in Ethereum’s supply chain management with real-world solutions.
NEM offers corporate solutions for enterprises that want to create their own private blockages.

Please enter Coingecko Free Api Key to get this plugin works.

VeChain (VET) and NEM (XEM) Price Wars

Many of the investors in the cryptocurrency look at the price value of an asset before making investment decisions, and two-mine pricing makes them look like competitors. During the reporting period, the VET price was $ 0.012931, up 0.52 percent from the dollar, while the price of XEM was $ 0.096978, up 1.66 percent on the last 24-hour trading session.

In the market ranking of capitalizations, XEM is ranked 17th and VET is ranked with market bonds of $ 872.798.864 and $ 717.083.514, respectively.
These values are the real reflection of the market played, but the VET is more promising because it has recently been re-branded and attracted the attention of the investor community.

VeChain Target Market

The VeChain target seems to be the inspiration for Sunny Lu, who worked for a luxury goods company, Luis Vuitton, to dominate the BaaS market and enter the luxury goods market.

However, the platform was very effective in combating the counterfeit threat of luxury goods through its supply chain management system.
The platform uses RFID chips labeled on products to ensure that the consumer receives authentic products. The system monitors the manufacturer’s products to the point of sale to the warehouse to ensure that counterfeiting does not enter the market. However, due to consumer demands, the platform is expanding its target market by providing applications to healthcare and insurance sectors to enterprises beyond luxury goods.

NEM Dominance in the Enterprise Market

NEM is setting up a system for a corporate consumer who needs a customized blockchain, where they can work on their own dedicated servers and integrate NEM into their internal systems.

NEM offers specially designed APIs compatible with a wide range of programmable languages. This makes the ecosystem ideal for the creation of intelligent assets demanded by modern businesses.

The growing demand in Asia, Europe, Malaysia and New Zealand had a $ 40 million anticipation of divergence to support expansion. The coin has already partnered with Kind Haven in the gaming industry and continues to exhibit in the old exhibitions all over the world to make its products popular.

VeChain Price Might Keep Rising

It’s been a while since people were so excited about the price of VeChain. Over the past few weeks, trade momentum has fallen slightly or remained flat. This isn’t good for a project that is often thought to be an Ethereum rival, but it’s still not in the 5% of Ethereum’s market cap. An interesting trend worth to pursue.

Still, there are still many positive things behind the scenes for VeChain. Community members remain confident that big things will happen sooner or later.
Recent developments seem to give clues about the adoption of Bitcoin, but there is no way to explain exactly how things are going to develop.

One of the most interesting developments is how the VeChainThor network crosses milestones in terms of registered accounts. While this number was at 49,000 a week ago, this number rose to 50,000 and increased slightly this week.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.