VeChain Foundation recently attended Amazon Web Services (AWS) Global Beijing Summit. The foundation attended the Summit as a technology partner of AWS, where they showcased VeChain ToolChain and Various VeChainThor blockchain-powered use cases. According to VeChain News, the summit saw a presence of more than 200 AWS partner networks, including IBM, Xiaomi, and Deloitte, to have in-depth discussions on the best practices of cutting-edge cloud technology.
Current Statistics of VeChain:
- The current trading price of VeChain (VET) against USD is $0.0050259.
- Against Bitcoin, the crypto was valued at around 0.00000042 BTC per chip.
- At present, the market rank of VeChain (VET) is 34th in the cryptocurrency market.
- The market capitalization of the coin is around 283,908,608 USD.
- At the same time, the 24-hour trading volume in the altcoin was 24,298,080 USD.
- With an ROI of -65.96%, the number of VeChain chips circulating in the market, at the time mentioned above is 55,454,734,800 VET.
VET to USD Price Comparison:
Let’s look at the variation in the VeChain Price throughout 25-days.
On July 12, VeChain (VET) was trading around 0.00644543 USD. However, today, the altcoin has declined by a substantial margin of 22.02%. The altcoin showed a similar trend in a week of trading where it went down by 9.17% from the level of 0.00555945 USD on July 31. Yesterday was a relatively stable day for the coin. With a marginal decline of 1.49%, VeChain wrapped the day at 0.005253 USD, after opening at 0.005333 USD.
According to our analysis, the flattening trend will persist for a few days more, and then there will be a bullish movement. In the long-term, VeChain might trade around 0.01 USD. As of now, the immediate resistance for the coin is at 0.00536233 USD, and the support level is at 0.00490 USD.
Earlier this year, VeChain partnered with one of the biggest cloud technology partners Amazon, and the tie-up is turning out to be a smart move of the foundation. As far as trends are concerned, the short-term is no-doubt a bearish one. However, the stability in the crypto is a good sign and might be a prequel for the long due bull run.