VECHAIN price, news and Forecast (VET US DOLLAR)
Technical overview
Big picture
Cryptocurrencies bullish themes
Cryptocurrencies bearish themes
Latest Crypto Analysis
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Bitcoin Price Forecast: BTC extends pullback as profit-taking weighs
Bitcoin (BTC) trades below $84,000 at the time of writing on Thursday, extending the pullback for the third consecutive day as profit-taking weighs in. Despite the price correction, strong institutional demand alongside sustained accumulation by the 100–1,000 BTC holder cohort could support the Crypto King.
XRP is flashing three bullish signals heading into a historically weak October
XRP (XRP) is still flashing 3 bullish signals across its holders, derivatives, and ETF data. These signals come as the token gave back part of its September gains on Thursday. The token traded near $1.50 at press time, down about 6.3% over 24 hours, according to BeInCrypto Markets data. The pullback still leaves XRP up over 15.6% on the week, a gain that tracks a broader market rally.
Crypto Today: Bitcoin, Ethereum, and Ripple – Bulls start to lose control
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Thursday after losses of 2% to 4% the previous day. The major cryptos are starting to lose bullish control in the near term so far this week, despite the institutional funds witnessing steady inflows. The technical outlook for Bitcoin, Ethereum, and Ripple indicates near-term downside risk.
Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed
Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.
Crypto Today: Bitcoin, Ethereum, XRP tilt toward breakout on risk-on sentiment
Bitcoin (BTC) kicked off October on a strong note, with the price breaking above $116,000 on Wednesday. Despite a market-wide expectation that September is usually a bearish month for cryptocurrencies, BTC posted gains of 5.31%.
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XRP
WHAT IS VECHAIN?
VeChain is a blockchain platform based in Singapore and China. It has operations in Asia, but also in Europe and America. It was founded in 2015 by CEOs Sunny Lu and Jay Zhang. It’s designed to enhance supply chain management and business processes. It uses physical tracking combined with blockchain records to keep tabs on real-world products from production to delivery, preventing fraud and increasing transparency. VeChain aims to provide a full view of an organization by disintermediating information from data silos.
VeChain mixes a decentralized and a centralized model, which balance will vary as the ecosystem matures, starting with a structure more centralized at the start and slowly giving more power to the community. It wants to become a leading platform for ICOs and for conducting transactions between IoT connected devices. VeChain has two tokens: a VeChain token (VET) as a value layer and a VeChain Thor Energy (VTHO) as a smart contract layer.
Characteristics of VeChain
VeChain was founded in 2015 but the first version wasn’t launched until June 2016. Its main characteristics are:
- VeChain takes a very specialized approach to its development, designing a specific structure for the movement of goods and services across the supply chain. That makes VET a utility token.
- It has two token systems: VET, which funds the projects; and VTHO, which powers the blockchain.
- Blockchain technology records data without giving the option of being changed. That allows a truthful record of the conditions throughout the supply chain.
- It can be used to verify the authenticity of the items purchased, especially important for tackling fraud in the luxury goods sector.
Differences between Bitcoin and VeChain
- VeChain runs on top of the Ethereum blockchain while Bitcoin has its own infrastructure.
- VET specialty is supply chain management to track luxury goods, food, pharmaceuticals, and much more.
- VeChain has been optimized for performance to process up to 10,000 transactions per second while 4.6 transactions while the Bitcoin blockchain can currently guarantee only 4.6 transactions per second.
- VeChain has a total maximum supply of 86.7 billion and Bitcoin has a max supply of 21 million.