VECHAIN price, news and Forecast (VET US DOLLAR)


VeChain Price Prediction: VET bears eye 10% correction


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Litecoin price is failing recovery as Whales pull back to December 2020 lows

Litecoin price is failing recovery as Whales pull back to December 2020 lows

Litecoin price was showing some signs of recovery about two weeks ago, but it failed to sustain the bullish momentum, resulting in minor corrections. While broader market cues are to be blamed for this, a lot of the credit goes to the whales, too, whose disappointing performance has impacted the altcoin.

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Members of US FSC urge SEC Chair Gensler to immediately approve spot Bitcoin ETFs

Members of US FSC urge SEC Chair Gensler to immediately approve spot Bitcoin ETFs

The discourse surrounding the spot Bitcoin Exchange Traded Funds (ETFs) is reaching its pinnacle as key lawmakers are now stepping in to resolve the matter. The Securities and Exchange Commission’s (SEC) staunch repulsion of the ETFs has been called out by the lawmakers, urging the regulator to approve the applications.

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Ripple and Coinbase lead the big fight as US crypto firms advocate for regulatory overhaul

Ripple and Coinbase lead the big fight as US crypto firms advocate for regulatory overhaul

Ripple Labs is standing shoulder-to-shoulder with US-based cryptocurrency exchange Coinbase as crypto firms in the US push for a regulatory overhaul in the country. It comes amid growing concerns that stringent and unclear regulatory structures in the US continue to drive business away from the country.

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Ethereum Restaking - The next big thing after liquid staking?

Ethereum Restaking - The next big thing after liquid staking?

Ethereum introduced unstaking this year, and the crypto market witnessed a stark shift. The Decentralized Finance (DeFi) space, in particular, observed the emergence of liquid staking protocols. With the discourse of “restaking” picking up heat, it seems like the market is getting ready for the next big thing.

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Bitcoin: BTC downside likely after 20-week EMA culls bulls

Bitcoin: BTC downside likely after 20-week EMA culls bulls

Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.

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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.

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