• Thu. Feb 29th, 2024

VeChain Price Rises to All-Time High after Enterprise-Level Partnerships

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Apr 11, 2021

The cryptocurrency sector is known to be one of the most thriving and adopted platforms in the entire online trading industry at the moment. With every passing day, the adoption, as well as investments in the cryptocurrency sector, continue to grow.

However, integrations and partnerships with real-world companies are the major factors behind the success of the crypto sector. It is because of the mainstream companies that the cryptocurrency industry is now thriving and hitting all-time highs.

Real-world companies play a key role in validating the authenticity of the crypto-blockchain industry. Over the course of time, the cryptocurrency blockchain sector has undergone major integrations and partnerships.

This is exactly what the cryptocurrency-blockchain industry had wanted to achieve all these years. As the industry received mainstream attention and adoption, its reputation and overall valuation reached the skies.

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On the other hand, the mainstream and real-world companies also thrive by partnering with the cryptocurrency-blockchain industry. By forming partnerships, they are able to gain the advantage of the profiting and high liquidity environment that the industry has to offer.

The companies also gain advantage and supremacy among other companies that belong to the same fields but are yet to adopt the cryptocurrency-blockchain technology.

This way, the companies are able to offer much more products and services to their consumers as compared to their competitors. One of the major examples is JPMorgan, which is now offering its users the ability to invest in Bitcoin (BTC) and other major digital assets.

It is now a common understanding that when a real-world company partners with a cryptocurrency company, it ends up being very beneficial for the cryptocurrency asset or firm.

The cryptocurrency investors start viewing the project/protocol as more trusted and reliable. This means that the platform ends up experiencing a surge/rally and its prices shoot up, increasing its market capitalization.

This is exactly what VeChain (VET) has experienced since February of 2021. Ever since the beginning of February, VeChain (VET) has been involved and has made several partnership announcements with real-world companies.

The company has been widely adopted on an enterprise level and it has observed this adoption rate by offering a wide range of products and use cases for the companies.

VeChain (VET) is a supply chain platform that is based on a blockchain network. The platform seeks to gain prominence in the Internet of Things (IoT) and distributed governance technology.

The main reason behind seeking prominence in the above-mentioned sectors is to introduce optimization in the supply chain management systems.

According to on-chain data analyzing firms, VET has experienced a more than a 400% increase in its price. The asset has managed to experience this surge in a matter of two months. Back on February 8, the price of VET was at $0.0263, and at the time of writing, it is at $0.1344.

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