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Vechain News Today: Recent partnership with DNV GL and Counterfe Since its already known that Vechain has been in all bearish zone for a few months now. In fact, some analysts strongly argued the fact that it’s high time now that chain comes up with some new strategies that can truly boost up the crypto price. The Ray of HOPE FOR VECHAIN Well, the scenarios for vechain might change in the future as now it seems VeChain is consistently trying with extreme efforts to come in the bullish zone. As per the recent report, China’s largest wine importer namely Counterfeit Wine has now joined hands with VeChain. The largest wine importer plans to use the VeChain’s blockchain technology which will primarily be implemented for tracing anti-counterfeit. Now the part that must be noticed is the fact that China can undoubtedly be seen to become the world’s second-largest wine consumer by 2020. Therefore, if observed with proper calculation, it can definitely be said as the sales of wine go high, the equal benefits shall be enjoyed by all other that on-board. VECHAIN’S MARKET AT PRESENT Speaking about the trading price of VET against USD at present, it can be seen somewhere around $0.0044792. Whereas, the market cap of the crypto was found to be 252,671,985 USD. During the same time, the 24-hour trading volume of this particular altcoin was around 28,001,391 USD. Moreover, as far as the total number of VeChain chips circulating in the market is concerned, it was around 55,454,734,800 VET. Therefore, with a return of -69%, the crypto lies in the 31st rank at present. VECHAIN NEWS TODAY (THOR PRICE PREDICTION) Considering the upward shift of 3.49% yesterday, the crypto has been able to showcase its reliability in the market once again. As per the statements from some analysts, the crypto might be able to trade around $0.1 by the end of 2019. However, as of now, the VET has got a support level of 0.004245 USD whereas the immediate resistance for the coin is at 0.004665 USD. INVESTMENTS WON’T GO IN VAIN If you too are one of those terribly worried about their investments in this crypto, then its high time for you to acknowledge that your money is not in vain. It can be said so because of the constant efforts of VeChain, the crypto has now emerged as one of the most reliable firms to partner with. This is why 2019 witnessed some really effective partnerships of VET that restores the faith back in the firm, even if it’s going through rough times. Along with a recent partnership with China’s largest wine importer, Counterfeit Wine, the VET has been able to gather some major clients all around the world. Some of its clients include DNV GL, the Chinese Government, Louis Vuitton and many more.
BINANCE:VETUSD
by TheCoinRepublic
With VeChainThor’s authenticating system for luxury wines One of the most well-known as well as one of its kind platform, Shanghai Wine and Liquor BlockchainAlliance, which was launched in 2018 has once again been in the news. Since there is no denial in the fact that this alliance has undoubtedly ended up enhancing the logistics as well as quality standards for the growing industry. This has also flourished as the middle-class Chinese consumers have gradually started developing a taste for the supple intoxicant. However, the concerning part is the counterfeiting part has equally grown along with the consumption. As per the reports, 65,000 counterfeit Penfolds bottles were seized by the Chinese authorities. COMBATING ILLICIT CHINESE WINE TRADE Well, this unethical Chinese wine trade undoubtedly needed strict action. Therefore, in order to fight with this illicit trade, one of the most renowned importers in the region, Shanghai Waigaoqiao Direct Imported Goods Co (D.I.G.) shook hands with VeChainThor. Together they ended up building a sophisticated as well as effective luxury wine authenticating system. HOW DOES IT AUTHENTICATE? Truth be told, this is indeed a really effective way to authenticate as the chances of illicit wine trade is minimized to a large extent. As per this authenticating technology, the blockchain-strapped bottles are equipped with NFC, i.e., Near-Field Communication chip. This is included so that the vintage’s provenance is tracked with better accuracy. Moreover, the entire process of authentication is even more trustworthy as the entire traceability program is overseen by two governmental bodies as well as the data included in the blockchain is independently verified by auditors like DNV GL. RAY OF HOPE One can never deny the fact that the sales, at one point of time, hit its lowest because of the illicit trades. However, situations are a bit less complex now as D.I.G mentions in a report that there is an overall increase of 10% in sales for vintages tracked by the authenticating program. Therefore since its launch, it has been a bright ray of hope for the market. News Source :TheCoinRepublic
BINANCE:VETUSD
by TheCoinRepublic