VeChain (VEN) is one of the latest cryptocurrencies to enter into the crypo market. It employs a combination of the blockchain technology and smart chip technology. It plans to become a DApp platform. The smart chip technology is mainly used to follow the items throughout their entire lifecycle.
Although it is relatively new to the market, this coin seems to be doing better than most of its predecessors.
VeChain (VEN) price
With less than a year in the market, this newcomer is taking the financial market by storm. It is unbelievable how a cryptocurrency coin attains a value of $5.48 USD in just five months while there are some currencies which have never gone past $1 with even more than two years in the market.
But the real rise in prices was witnessed in the months of December 2017 and early January, 2018. From 1st December, 2017 to 11th January, 2018 alone, the VEN saw a 2825% growth in price from $0.240301 to $7.03.
From 11th January, 2018 to date, the prices have taken a short downtrend. At the moment a token of VeChain is going for $5.48 USD. The retracement in prices seems to be happening to all crypto currencies and there is no need to worry.
Why the huge 2018 expectations for VeChain (VEN)?
For the year 2018, there are huge expectations for the VeChain.
To start with, VeChain said they have plans to rebrand to VeChain Thor. Actually, the rebranding is scheduled to take place at the end of January 2018. This is in trying to push the company a notch higher to compete with the likes of Ethereum in terms of solving business solutions.
The VeChain Thor platform is expected to have two tokens namely: VeChain Toke (VET) and the Thor Power (THOR).
The VeChain Token (VET) token is designed for companies so as to enable them use VenChain cryptocurrency blockchain in carrying out their payments. During the transition period, the companies with more VET coins will be given a higher priority.
On the other hand, the Thor Power (THOR) will be used by individuals who wish to invest in VeChain. It is the same as the GAS token of the NEO cryptocurrency.
Also, VeChain is busy forming partnerships with various businesses so as to get a wider pool of clients. The major partnerships which it has made to date include the partnership with PWC in the PWC Incubator program and the partnership with DNV GL Company. In getting partnerships, Vechain (VEN) is able to get in touch with the clients of the companies they partner with and later these clients may end up investing with VeChain.