The buzz is that industry leading cloud CRM provider, SalesForce, has successfully tested some aspect of VeChain (VET). What does this mean? In my view, the general implications of this news may be more important than any of the specifics. The details are sort of technical and over my head. The takeaway information is basically that leadership at SalesForce likes the product demo that VeChain successfully adapted for their specific use-case. I learned of the collaboration between SalesForce & VeChain yesterday in this video: 🔥 Salesforce Successfully Test VeChain 🔥 | Cheeky Crypto. Subscribe to Cheeky Crypto, they're doing a good job over there. I think I finally decided to buy my VET in February after seeing a Cheeky Crypto video discussing VeChain's focus on large corporate partnerships, inventory management, and supply chain logistics. I saw VeChain as an interesting example of "blockchain as a service" and thought it could have future potential. I did not expect it to gain so much so quickly! I was just starting to build a position. My first (and only) buy was $255.98 on February 12. Those 5,521 VET are now worth $696.61. That's a 272% gain in just under 2 months.
I'm putting a pin in my #FluxCapacitorHyperGrowth series (where I've been looking for deep value in low-cap tokens) to write this post. If you want to check that out, here is a link to the first post: The "Secret Sauce" for identifying deep value in Low-Cap cryptocurrencies is not so secret. I've been hyper-focused on a very small market capitalization value range... between $5-$50 Million. VeChain's market cap was already in excess of 1 Billion when I became aware of the project, so I didn't expect this sort of movement from VET this quickly.
I initially looked into VET after seeing them as a staking option in the rewards tab of the Exodus wallet. The current APY is only 1.95%, but it fluctuates dynamically and has been quite a bit higher recently. I think it was holding stable around 5% for a while. The rewards are paid in VeThor Token (VTHO) which is VeChain's parachain and gas token.
It can be slightly confusing to encounter a project with multiple tokens. Understanding the complexity of their relationships to one another can be a deterrent to adoption and investment. It's difficult to describe the relationship between VET and VTHO precisely, so I grabbed a snippet from the Exodus wallet blog that describes VTHO. I've been holding VET for two months and I still don't feel confident explaining the nuanced relationship between VET and VTHO. So this is a good review for me and hopefully a useful exercise for everyone reading (Please remember to subscribe to see more of my content. Thank you, dear reader. I will try hard to earn your 100% tips).
Alright, now that we've done a quick review of VET and VTHO, let's talk about the featured video. I was going to feature Cheeky Crypto's video on VeChain & SalesForce. It is really informative and they broke the news pretty quickly. However, today I discovered a new channel that is pretty cool and still growing with only 2,000 subscribers. So today's featured video is from the Bobby Snakes youtube channel. I commented and told him to get on Odysee already! I actually made a Block To The Future youtube channel just so that I could comment on my favorite crypto youtubers' videos and tell them to at least start syncing to LBRY / Odysee.
Bobby Snakes delivers some fairly high level concepts in a way that's pretty easy to follow. You should like and subscribe to his channel. Bobby Snakes helped me to understand the specifics of the VeChain-Salesforce collaboration a little better. Now I see this as positive news, but it's not like a huge binding partnership contract was formed between VeChain & SalesForce. It's not quite that level of crypto breakthrough that we're all looking for... but it is starting to get VERY CLOSE. This is super bullish news for VET and we're seeing the pump now. But I think this is really a lot bigger than that. Watch Bobby Snakes' video, *Official* VeChain Successfully Tested By World's #1 CRM Platform Salesforce | VeChainThor Ecosystem ...and then I want to share some final thoughts on the market capitalization of SalesForce and what this means for VeChain.
If you've watched the video above, you might be starting to see the enormous potential for blockchain as a service providers, like VeChain, to grow to market caps in the hundreds of billions and possibly, in a decade or so, even into the trillions. SalesForce stock ($CRM) had a little pump over the past few days as well. When I went to check on how the price of $CRM was moving with this blockchain buzz, I wasn't surprised to see it up a few points. I was however, surprised to see that SalesForce has a market cap of $213 Billion. That's getting pretty close to the market cap of Ethereum at ~$250 Billion. I didn't realize that SalesForce had such a large market cap. When VeChain is providing blockchain as a service integrations to 20% (100 companies) of the S&P500 corporations. The value that VeChain can provide to all of the publicly traded companies on the NYSE alone puts it's growth potential in the 100x range. When I consider the global fiat market cap and all of the companies which trade on international markets, I can imagine VeChain and the "blockchain as a service" market sector in general, providing valuable services universally to the entire world's hubs of industry.
It's not too late to buy VeChain (VET). VET's all time high is still a very long way off. However, I prefer the slow and steady accumulation strategy of dollar cost averaging for alt coins with market capitalization above $1 Billion. I've been mucking around in the mire of low-cap alt coins while writing the 2nd post in my #FluxCapacitorHyperGrowth series, Actually Applying the "Secret Sauce" to find deep value in micro-cap coins #FluxCapacitorHyperGrowth (Part II of III). I'm dreading writing part III because I've still got to sort through hundreds of low-cap coins, so this post has been a welcome distraction from that. It is also serving to inform my perspective for when I return to the low-cap range. Realizing that SalesForce has a market cap over $200 Billion really had an impact on me. I'm seeing the market cap ceiling projections for the cryptocurrency market as having a lot higher medium-term (5-10 years) potential than I had previously imagined. The people who buy the bottom of the next bear market are going to fly so high during the following bull market cycle. As long as we're talking about stocks and cryptocurrencies, I've got a few tips to keep your eyes on:
1. Coinbase IPO is coming up rapidly.
2. SalesForce ($CRM) looks like a good buy right now because of VeChain crypto market buzz
3. Exodus wallet is having an IPO as well... but it's A Shares so you have to buy them through the Exodus wallet right now.
4. ZKIN is the stock behind the xSigma (SIG) project.
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