VeChain is a supply chain-focused cryptocurrency network. The VeChain token (VET) and the VeThor token are both operated on the VeChainThor blockchain, which is the public blockchain powering VeChain (VTHO). The VeChain token is used to send money throughout the network, whilst the VeThor token is used to fuel smart contract transactions.

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Sunny Lu, the former chief information officer (CIO) of Louis Vuitton China, established VeChain in 2015. It now employs over 100 people worldwide and provides blockchain-as-a-service to customers in the logistics and data management industries.

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VeChain's aim, according to its whitepaper, is to make it easy for the blockchain community, business owners, corporations, governments, and anyone else to migrate their business activities to blockchain, with a focus on the fact that technical knowledge is not required.

VeChain includes a number of unique characteristics. VeChain's major distinguishing qualities are its application cases for tracking things and data. VeChain could be used by companies who need a verified chain of ownership for production, transportation, or other procedures.

Users can track ownership and control of any number of products using VeChain's smart contract functionality. An electronics company, for example, can use VeChain to track the product distribution process. VeChain might be used by the highly regulated marijuana sector to track seeds, plants, sellable items, and sales for end-to-end compliance. VeChain can be used to track it if a corporation needs to acquire or sell it.

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VeChain employs a proof-of-authority technique to create a network that is both efficient and energy efficient. VeChain cannot be mined. Instead, it operates on the basis of proof-of-authority, with the larger participants serving as network validators. This means that the task of validating and operating the VeChain network is done by a fewer number of machines. Individually, this means that you are unlikely to be able to mine VeChain.

Others in the network may elect you as a validator if you have a good reputation. This is analogous to proof-of-stake coins, in which validators are chosen by those with the biggest stake in the network. Both, however, utilise far less energy than competing proof-of-work coins.

• EXCHANGES

Vechain is traded on Binance, Coinbase, Binance Us, Bittrex, Crypto.com, Uniswap, FTX, Bithumb, Huobi Global, FTX US, Kucoin, Gate.io, MEXC, Coinbase, OkEX, Wazirx, bybit, bitfinex, Kraken, and poloniex, among other major cryptocurrency exchanges (VET).

The screenshots above show the exchanges that list the VET cryptocurrency.

• CoinmarketCap Details

According to Coinmarketcap the price of VeChain is $0.05754 dollors. Its Change of last 24h is $0.0008376 dollors. Its 24h Low / 24h High is $0.0565 /$0.05831 dollors. ItsTrading Volume of 24h is $357,309,805.58 dollors. Its Market Dominance is 0.19 percent and Market Rank is in top 50 and rank number 39 thats good. Its market cap is Market Cap is $3,697,859,823.00 dollors. Its All Time High is (a year ago) $0.2782 dollors. Its All Time Low is (2 years ago) $0.001678 dollors. The VeChain ROI is 282.27 percent. Its Circulating Supply is 64,315,576,989 VET . Its Total Supply is 86,712,634,466 VET and Max Supply is 86,712,634,466 VET tokens.

The screenshots above show the all fundamental details VET cryptocurrency.

Why are you optimistic about this token today, and how long do you think it can rise?

There are numerous reasons for me to be optimistic about this crypto coin. The first reason is that this coin is one of the top 50 crypto coins in the world by market capitalization, which is a significant achievement. Another key factor is that this coin has a wide range of real-world applications.

Another essential feature of this coin is that it has a market cap of over $3 billion, which is impressive, and it has over 562 thousand Twitter followers, which is impressive.

In addition, the Vechain staff is extremely dedicated and works on it at all hours of the day and night. I am optimistic about its bright future. So, these are some of the grounds for my positive outlook on this coin. And if we talk about how long it can rise. According to my point of view it will touch 1 dollor at the mid of 2023 due to its real world use cases.

How to analyze the token? (using the analysis knowledge learned from professors’ courses) - the most important part and Do you intend to keep it for a long time or when to sell it?

For my this technical analysis, I chose two indicators. The first indicator is called RSI. which is a very popular indicator, which i learn from our professors and the second is called Parabolic SAR. I aslo mark support and resistance levels for better understanding.

The Relative Strength Index is the first indicator in my technical analysis for today. Traders can utilise the RSI Indicator to discover entry positions. Below 30, it is oversold, and above 70, it is overbought. If the RSI moves from oversold to overbought, we may consider the market bullish, and if the RSI moves from overbought to oversold, we can consider the market bearish.

The second indicator I've utilised in this trade is the parabolic SAR indicator, which is also a very popular inducator. It is actually made up of a +++ shaped dotted line that goes above or below the coin's price. When the SAR dots are above the price, it is a Bearish signal; when the SAR dots are below the price, it is a Bullish signal.

From the chart of VET/BUSD above we can see that the RSI indicator moves from 30 to 70 that is a good buy signal for me. And if we look from the second indicator which name is Parabolic SAR that also create its dot below the market price that is another good buy signal for me. After the conformation from both the indicators i thought to take my entry in this coin.

So, after the conformation I take a buy spot entry in VET coin at the price of 0.05639 with 22.83 BUSD. You can see the prove of my transaction in the above screenshots.

After a while, I sell my VET coin at the price of 0.05661 with a profit of 9 cents. You can see the prove of my transaction in the screenshots above.

Do you recommend everyone to buy? and the reasons for recommending/not recommending.

First and foremost, whenever you want to buy a cryptocurrency, do your homework. Examine all of the project's aspects and use cases before acquiring it. As a result, I didn't recommend this currency to everyone because no one can predict the future, and not everyone agrees with my perspective on this initiative.

The bitcoin market, as we all know, is incredibly volatile, and no one can afford to lose money. I didn't claim Vechain (VET) isn't a solid project; in my opinion, it's a future prospective coin for a variety of reasons, including its high ranking, large community, and other factors. However, everyone has their own opinion on Vechain (VET). As a result, I did not advise everyone to purchase this currency.

Anything other users want to share about the token/project.

Vechain is one of the few cryptocurrency initiatives with a real-world application. The goal is to build a platform that will transform the supply chain as we know it today. Relationships between suppliers, manufacturers, and distributors in the traditional supply chain are nearly exclusively built on trust.

Only a few circumstances allow for continuous monitoring. Vechain allows for trust-free supply chain automation by utilising transparent technology with no weak points or manual control units. Simultaneously, costs are decreased and security is enhanced.

Some pics desingned and edit by me on Canva and Picsart softwares. Remaining all Unsourced Screenshots taken from Tradingview and Coinmarketcap platform and the grammer check from grammarly.