As of Friday morning, May 21, VeChain VET had fallen to 13.28 cents per token. This is way off of its recent highs at a price of 27.8 cents in mid-April. However, this altcoin price has a good chance of doing very well the rest of the year.
At the end of December 2020, it was at the price of 1.9 cents. That means it is up 598% since then and more than 3,000% in the last year from a price of 0.42 cents a year ago. This is an amazing performance, and I suspect it foreshadows a good future for crypto.
VeChain’s Standout Features
VeChain’s project focus as a blockchain platform and related cryptocurrency is on corporate supply chains and logistics. Its main purpose, according to its whitepaper, is to improve the management of supply chains and related business processes. For example, a number of large companies now use VeChain for inventory tracking purposes.
The addressable market for VeChain’s focus could turn out to be quite large. A study from 2020 concluded that $300 billion worth of food could be traced on the blockchain by 2027. Walmart has partnered with IBM and created the Food Trust Blockchain technology with nine other food companies to track food supplies.
A Norwegian classification company known as DNV has partnered with VeChain. It provides tracing services for 13,175 vessels and mobile offshore units.
Existing VeChain partnerships and large businesses that use VET are tracked on a site called Vechaininsider.com. This list of strategic partnerships, including PriceWaterhouseCoopers, and several Chinese companies.
Recently, Decrypt. co-wrote about an LA-based vaping company called PuffBar that used VET to track counterfeits. In order to tell about whether a vape is a knock-off, users take a picture of the UPC code and product code. The cryptocurrency site can then tell if it is a knock-off after it’s uploaded.
The VeChain project has a proof-of-authority protocol system. This is an offshoot of the proof-of-stake system. As a result of its dual token supply chain structure, the total supply of VET tokens is slightly inflationary as a result. VeChain VET is here to stay. Look for the VET to do very well this year as its blockchain popularity rises.
The VeChain Dividend
Another perk of the VeChain project is that it pays a dividend. An offshoot coin called VeThor is paid to every holder. The market price for VeThor was just below 1.15 cents as of May 20.
Based on the best article I have found so far on the VeChain dividend, each VET owner has the right to receive 0.000432 VeThor tokens daily per VET token.
Therefore, the VTHO price is worth 4.958 cents per 10,000 VET tokens daily. As 10,000 VET tokens price are worth $1,256, the dividend yield is about 1.44% annually. Again, this dividend gets paid out to VET owners daily in VTHO tokens.
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