VeChain Price Analysis: VEN Looks Stronger Compared to Peers

VeChain (VEN) Cryptocurrency has moved up approximately 30% in 24 hours after the news that VEN will be listed on Bithumb, South Korea’s largest exchange, in April.

Currently VEN is traded on Lbank, Binance and Huobi with popular pairs and with great volumes. In addition, VEN has over $1.5 billion of market capitalization

A total of 13 top cryptocurrencies trade on Bithumb and VEN will be the 14^th. The crypto’s 60% of the volume is predominantly on Binance.

Followed by Bithumb Pro, we are glad to announce that VeChain tokens will be listed on Bithumb Main in the next few hours! @BithumbOfficial @Bithumb_Korea. #GoVeChain https://t.co/7qrSYTWcIJ

— VeChain Foundation (@vechainofficial) April 3, 2018

VeChain (VEN) Price Chart

In 24 hours, VEN has moved up from the level of around $2.27 to a daily high of $3, after which it fall slightly to the level of $2.77.

Application Of VeChain

VeChain is business collaboration blockchain platform to develop different application for different industries. It connects the blockchain technology to the real world. BMW PriceWaterHouseCoopers, and he Government of China are looking forward for VEN business solutions. Further, VEN in luxury and automobile industry has lot of applications as it works for anti-counterfeit products in luxury industry and for connected passport of a vehicle in an automobile industry.

As a result, VEN is working with French Automobile  company, Renault. In Renault, VEN develops a car maintained book related to Blokchain. If the user wants to sell a car, the buyer can verify whether the seller is selling the car in the appropriate way. Renault is the first company in the world, who have set up proof concept, which works end too end. In addition, the luxury companies want their original priced products to be sold anywhere at higher price, so have come up  solution to counterfeit products in the luxury automobile industry. The counterfeit products includes the NFC chip, which cannot be duplicated.

Moreover, VEN works with TNVGL, which is a large certification company, to provide large e-certification to all who go for blockchain and the ones whom the client proposes. Further, VEN holders is expected to be rewarded with VeThor (VTHO) as a by-product, which will be similar to the GAS token works with NEO.

Further Rise Expected for VEN

On the 30^th June, full-blown mainnet and VeChain Thor (VET) tokens will be launched. It is expected that VEN price will significantly move up before the launch.

Overall, lot of industry wants to use the blockchain technology to address different solutions and with the launch of VeChain (VEN) platform at the end of the quarter, VEN crypto looks stronger compared to its peers.