All of the major cryptocurrency markets continue to note impressive gains as more time progresses. Further down the rankings, most of the altcoins also remain firmly in the green, which is a very promising sight to behold. VeChain continues to truck along nicely, primarily because things are clicking together behind the scenes.
VeChain Price Climbs Higher
It is evident there are a lot of opportunities in the cryptocurrency industry these days. Altcoins often pursue very different use cases compared to Bitcoin, although not all of them will be successful in this department. VeChain appears to be heading in the right direction so far, as their technology has some real-world potential. More importantly, it is already being turned into working products and services.
This has triggered another VeChain price rise over the past 24 hours. A net $4 gain in USD value and a 2.15% gain over Bitcoin paints a very interesting short-term future. The VET value has also surpassed $0.011 again, and it will seemingly hit $0.0125 in the hours to come. There’s also a good chance VET will hit 200 Satoshi later this week, if this momentum remains in place.
The big developments this week come in the form of new announcements and exciting services. The Bright Code project offers a lot of potential in this regard as it is one of the first “services” to be released as part of the VeChain-DNV GL partnership. Making it easier for consumers to track the origins of products is of the utmost importance, and Bright Code provides a real-world usability factor as well.
At the #CIIE2018 in Shanghai presenting, together with @vechainofficial, the #BrightCode project. Another step forward into a sustainable digital future pic.twitter.com/inqcmbi8aj
— Luca Crisciotti (@lucacrisciotti) November 7, 2018
The information is stored on the VeChain blockchain and offers a lot of interesting details regarding the item itself. This further shows there is a ton of potential waiting to be explored where VeChain is concerned. That alone could catapult the price to higher levels over the coming weeks and months.
Holy Cow this is good. @vechainofficial @CREAMethod @DNVGL_Assurance @bright_food https://t.co/EthZaeQtFN
— Crypto Bang! (@BangCryptoBang) November 7, 2018
Even VeChain’s technical indicators are promising as of right now. There is some solid momentum brewing, which should result in even bigger gains in the next few hours. No massive uptrend is expected for the time being, but this current slow-and-steady approach seems to work out quite well for all cryptocurrencies.
— Fons @ The Chart Inspectors🧐 (@Crypt0fons) November 7, 2018
All of these indicators point toward an interesting second half of the week for VeChain. While this market momentum can take a turn for the worse at any given moment, one also has to acknowledge that for the time being things look extremely promising. Sustaining this momentum for a longer period of time will always be challenging, as this industry remains subject to a lot of market volatility first and foremost.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.