Global Coin Report has been keeping an eye out on VeChain (VET) and things look like they are looking up for the coin that just migrated to its own blockchain. The Mainnet is live and running giving us one reason to HODL VET for the foreseeable future. The VeChain Thor (VET) platform has been slated as being the best of the best in the crypto-verse. Not many blockchain projects make it to the Mainnet phase and actually release an actual blockchain platform. But VET had all the signs of a good project from the get-go.
There are official reports of the Chinese Government partnering with the project. In particular, the government of the Gui’an New Area of China. As part of the plan, VeChain will implement blockchain technology to improve government operations for the development of a smart city in Gui’an. If plans work out at Gui’an, then it is all systems go for possible VET adoption in other areas in China thus giving us a second reason to HODL VET.
In addition to the partnership with the government of Gui’an, VET was part of a Pricewaterhouse Cooper incubation program. The PwC company has constantly backed the project with its arms of business in China and Singapore. Through PwC, VET will have access to expert advice to enhance the project’s growth in the greater South East Asia region.
VET has also partnered with DNV GL, a global quality assurance and risk management company. Another VET partner is Kuehne and Nagel which is a Supply Chain and Logistics company. Other partners include BitOcean, Fanghuwang and other firms in the industries of real estate, art, automobiles, tobacco, just to name a few.
The third reason to hold VET is the VTHO distribution that will happen on a daily basis. Two prominent exchanges will be supporting the distribution of the VTHO: Binance and Gate.io. The frequency of each is monthly and weekly respectively. The exact formula for calculating VTHO can be found on page 38 of the VeChain whitepaper. Any additional tokens for owning VET is a good deal as more and more exchanges pledge their support for the VTHO distribution.
The fourth and final reason to HODL VET is that the crypto-markets are ripe for another Bull run with Bitcoin (BTC) leading the pack as usual. VET is currently trading at $1.99 and at its lowest levels this year. This means that HODLers have a chance to get some more VET before the BTC Bull run starts as we head into the holiday season that starts in November. The Bull run will also be fueled by news of more institutional investors getting into crypto investing.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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