Big players investing in VeChain (VET): VeChain partnerships are all directed to the growth- Sat Apr 20

VeChain partnerships are all directed to the growth and development of the network. The latest one with Haier will allow VeChain to integrate the VeChain Thor blockchain to Haier’s Cosmoplat solution. While this integration may not influence the VeChain Thor (VET) price short-term, it is certainly going to boost its adoption. More people will learn about VeChain from Cosmoplat.

VET Surges Higher Following Latest Of VeChain Partnerships

VeChain partnerships often lead to a surge in the VeChain Thor price. The entire cryptocurrency market has been gaining more against the USD even if they are still struggling to retain these gains. VeChain hasn’t been left out and the price has been strongly supported by the deal with Haier, the latest of the VeChain partnerships.

VeChain Partnerships: VeChain Enters Partnership With Haier As VeChain Thor Price Spikes
VeChain is one of the few networks that were able to seal deals and enter partnerships amid the cryptocurrency bear market.

VeChain partnerships are all directed to the growth and development of the network. The latest one with Haier will allow VeChain to integrate the VeChain Thor blockchain to Haier’s Cosmoplat solution. While this integration may not influence the VeChain Thor (VET) price short-term, it is certainly going to boost its adoption. More people will learn about VeChain from Cosmoplat.

In case you do not know, Cosmoplat is the largest industrial internet platform in the world for customization solutions. This is the latest in the ever-growing list of VeChain partnerships. While it isn’t going to involve the use of the VET token, the VeChain Thor blockchain will be used for data management. One way of the other, this will influence the adoption of the VeChain (VET) token. It has already generated a lot of social media engagement with members of the cryptocurrency community wondering if buying the token might be a good idea now that it is affordable. One Twitter.com user with the name Crypto Bravehearts said:

VeChain Enter Partnership With Haier As VeChain (VET) Thor Price Spike

VeChain partnerships often lead to a surge in the VeChain Thor price. For more than seven days, cryptocurrency news has been rather positive. The entire cryptocurrency market has been gaining more against the USD even if they are still struggling to retain these gains. VeChain hasn’t been left out and the price has been strongly supported by the deal with Haier, the latest of the VeChain partnerships.

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VeChain partnerships are all directed to the growth and development of the network. The latest one with Haier will allow VeChain to integrate the VeChain Thor blockchain to Haier’s Cosmoplat solution. While this integration may not influence the VeChain Thor (VET) price short-term, it is certainly going to boost its adoption. More people will learn about VeChain from Cosmoplat.

In case you do not know, Cosmoplat is the largest industrial internet platform in the world for customization solutions. This is the latest in the ever-growing list of VeChain partnerships. While it isn’t going to involve the use of the VET token, the VeChain Thor blockchain will be used for data management. One way of the other, this will influence the adoption of the VeChain (VET) token. It has already generated a lot of social media engagement with members of the cryptocurrency community wondering if buying the token might be a good idea now that it is affordable. One Twitter.com user with the name Crypto Bravehearts said:

$VET #VET update: We bought another bottom, but this is a special one, because #VeChain is, in my opinion, the most professional and promising #crypto project. Huge partnerships, worldwide connections and it started to apply their tech in the real world, not only promises.”

While the VeChain partnerships are taking the spotlight, another development that may spur up adoption is the upcoming debate about blockchains. VeChain will be represented as the community debates on private and public blockchains. While this may seem like a small thing, it is, in reality, a big deal. Another Twitter user named Jérôme Grillères had this to say about the development;

“I AM VERY PLEASED THAT @GS1FRANCE SELECTED @VECHAINOFFICIAL TO BE IN THE PANEL OF THIS VERY INTERESTING DEBATE (FOR FRENCH SPEAKERS). LOOK FORWARD TO DISCUSSING PUBLIC VS. PRIVATE BLOCKCHAINS AND WHERE THE MAJOR DISRUPTIONS WILL BE COMING FROM.”

Traders are already beginning to accumulate at the current VeChain Thor price. The price of the VET token has been predicted to spike significantly this weekend and people are buying now to sell later. Keep in mind that the cryptocurrency market is volatile and unpredictable. So, the fact that analysts have predicted a surge in the price of VET in the coming weekend doesn’t mean it is certain. We all have to wait and see.

Market prediction for VeChain price 2019

With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.

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Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the VeChain (VET) price, which will give us another point of view to consider:

Wallet Investor

Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, VeChain is expected to go down to $0.000001 in one year. This price prediction is very bearish pessimistic and it might not fall that much.

Trading Beasts

Trading Beasts also gave a very neutral prediction saying that by 2019 end, VeChain might be in between $0.01 to $0.02, which is a wide range, so this prediction is given neutrally, without a showcase of any optimism.

Mega Crypto Price

Mega Crypto price predicts that VeChain might reach $0.258 by the end of 2021 and $0.612 by the end of 2023. (VeChain Forecast)

Smartereum

Smartereum is a site that regularly publishes cryptocurrency predictions. They believe that the price of VeChain could go up as high as $75 by the end of 2023.

Cryptoground

Cryptoground predicts that VeChain might reach $2.58 by the end of 2019. They even added their version of VeChain (VET) price prediction 2020, where they stated that VET might reach $4.10 by 2020.

How Big are VeChain’s (VET) Hyped ‘Big-Name’ Partnerships Really?

Announcements, Rumors, & Statistics
In August 2018, VeChain moved from being an Ethereum-based ERC20 token to its own main net. At the same time, the token supply was changed, so that each VEN ERC20 token was worth the equivalent of 100 VET main net tokens. The whole cryptocurrency space has been locked in a bear market since early 2018. While VeChain has performed largely in-line with the wider market, the main net migration and token supply change has had a negative effect on its overall standing in the cryptocurrency rankings by market cap.

On December 31 2017, VeChain was ranked 45th on coinmarketcap.com, with a market cap of $578 million and a price per token of $2.09. VeChain was one of the biggest gainers during a huge altcoin surge in January 2018, moving from 45thto 16th place in the rankings, while the market cap rose to $3.2 billion and the price per token hit $7.05. VET remained at around 16thor 17th place on coinmarketcap.com until the main net move in August, at which point it slipped to 21stplace. As of writing, VeChain is currently ranked 25th, with a market cap just shy of $229 million.

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Since the main net launch, VeChain has slipped down the rankings and its price has declined largely in line with Bitcoin and the overall crypto market. This is despite a steady stream of positive announcements surrounding partnerships and a fairly consistent increase in network usage.

The main measure of activity on the VeChain Thor blockchain network is the number of ‘clauses.’ Within VeChain’s network, clauses bundle together activity involving multiple accounts and smart contracts, making the number of clauses roughly equivalent to transactions on other networks. Looking at vechainstats.com, VeChain’s highest number of clauses was achieved immediately following the main net switch in August (526,068). This activity peak is likely due to users switching VEN ERC20 tokens to VET main net tokens.

VeChain’s network activity included 183,737 clauses in September, falling slightly to 178,215 in October, and increasing month-on-month since then. November saw an increase 228,378 clauses, which more than doubled to 468,994 in December. A milestone of 1 million transactions was passed in November. 135,219 clauses have already been utilized in the first five days of January, putting VeChain well on track to recording 2 million transactions by February.

Some interesting information has been uncovered by VeChain supporters on Reddit without any official announcement from the team. VeChain has a tiered structure of network nodes, with a target of 101 authority nodes at the highest level. Analyzing the IP addresses associated with these nodes has led Redditors to uncover that authority node holders likely include Alisoft, a subsidiary of Alibaba, as well as Prudential Fund Management Co. Ltd.

Experience has taught VeChain’s supporters to continually be reading between the lines for signs of unannounced partnerships. But beyond the hype and speculation, VeChain is clearly a project with powerful supporters. Whether this will translate into rewards for holders is a matter of debate. As with Ripple, VeChain’s detractors have pointed out that ordinary token holders may not necessarily reap the expected benefits from the underlying company’s success.

VeChain is a large-scale, ambitious project with a lot of information and hype to sift through. VeChain’s committed online community seem convinced that it will prove more than worth the effort.

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Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.

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