VeChain (VET) Price Analysis: VeChain Attains a Great Height With BMW’s Announcement Of VerifyCar

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VeChain is doing remarkably well in the crypto community by outreaching to global automobile giants. It is a blockchain enabled platform that is specifically designed to dignify the supply chain management processes. It uses Distributed Ledger Technology to determine the quality and authenticity of the products. VET is aimed to establish this secure system of supply chain management ecosystem with the method of asset digitization.

Current status of VET

Market rank:26

eToro Crypto

Market cap: 360,597,531 USD

Present trading value: 0.006503 USD

Circulating supply: 55,454,734,800 VET

Price analysis of VET

VechainThe above chart displays the following-

  • The current trading value of VET is 0.006489 USD/0.00000120 BTC (UTC time 06:17)
  • Its present market cap is: 359,859,422 USD
  • Its present 24h volume is worth of -13,046,163 USD

The same chart also shows that nearly a month earlier, VET had a price point of 0.007494 USD. So, within this one-month period, the value of VET has been decreased by -13.41%

Future price prediction of VET

The core intelligence of VET lies in its innovative technology and obviously in its decision of making strategic partnerships with the global giants especially with the automobile companies like BMW. In its recent summit of April 2019, it announced the news of BMW’s VerifyCar that will be powered by VET’s blockchain. It is currently working with BMW for various launches of the automobile giant. It was also disclosed in the summit that BMW is now opting for “low hanging fruit” with the implementation of the blockchain technology for Trace and Track purposes. VET undoubtedly fits its purpose. In order to mitigate the odometer problem of BMW, both VET and VeChain has come up with a digital passport- VerifyCar, for each vehicle that can allow customers to detect the autometer and maintenance history of the vehicle.

Surely, VET has a hardworking developers’ team that solely focuses on intuition, innovation, and exuberance. The way it is coming up with such brilliant ideas and efficient partnerships is really proving its potential to be reigning crypto in the future. We assume VET to be around $0.25 by the end of 2019.

Conclusion

VET is a very promising cryptocurrency. It is great potentials to spike up really high in the future, and it is thus worth investing in this cryptocurrency. Although the market is volatile, but the future price of VET is not going to be affected greatly and thus, it will be bullish to a certain extent.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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