VeChain (VET) Goes Straight To The Moon, Surging 67% And Making Its Way Into The Top 20 Largest Cryptos In The World – Potential Reasons For The Surge
VeChain (VET) rose for one day by 67%, and it made it to the 20 most considerable digital assets in the top 100.
At the time of writing VeChain (VET) is ranked 19th in the top 100 rating of digital assets with a capitalization of $ 811.1 million. VET is now trading at $0.014644 on CoinMarketCap.
After the recent fall of the market, some cryptos managed to bounce back with a general growth of 2-7%.
VET, on the other hand, experienced a growth of almost 67% and as expected this raises questions regarding the reasons for which this might have happened.
KuCoin provides VeChain Holders with the ability to deposit and withdraw VET
Exactly one day ago, the well-known currency exchange KuCoin provided VeChain holders with deposit services and also with the possibility of withdrawing funds to VET.
Thus, the exchange became one of the few sites where you can exchange and withdraw coins outside the mobile purse VeChain.
VET Deposit Services Open
— KUCOIN (@kucoincom) August 16, 2018
VeChain reveals blockchain vaccine tracing solution for China
Another achievement worth mentioning is that VeChain announced a vaccine blockchain tracing solution for China, as reported by Nasdaq.
“The Chinese government has spent the past several weeks scrambling to respond to a vaccine safety crisis. Now, at least one government agency has turned to blockchain technology and the IoT for a solution, according to enterprise blockchain provider VeChain,” Nasdaq writes.
This is extremely important because it can resolve the crisis that erupted for the Chinese government in China back in July when it was revealed that thousands of children received faulty vaccines that have been manufactured by a Chinese drug company.
This is the third major drug safety crisis that made headlines in the country in the past ten years.
In a blog post that was published earlier this month, VeChain revealed that it had been “tasked to achieve” a blockchain-based solution for recording data related to vaccine production in China.
You can read the complete announcement and details here.
These are impressive achievements of VeChain, and both of them might have led to such a surge in price for VET.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.