We are starting to see some bullish movement in the markets and there have been a few winners in this round producing some pretty substantial gains with many projects skyrocketing due to both market sentiment and the projects themselves. Yet one project that has been steadily moving forward with a working product and multiple high level partnerships seems to be lagging behind.
VeChain is a blockhain platform intended for products and information. Bitcoin was the first cryptocurrency and it brought with it a breakthrough in computer science and software. For the first time we were able to make a digital item unique and ensure it's uniqueness. Using blockchain as just a currency is the most primitive uses of this technology. VeChain builds upon this ability and enables products or information to become digitally unique.
The global counterfeiting market is aiming to make around $1.85 trillion in 2020. That is a huge amount of the market businesses are losing to counterfeiting of their products. What VeChain enables is through the use of smart chips, NFC, RFID, or QR codes the tracking of an item through the supply chain process and ensuring the authenticity of the product.
What makes it a sleeping giant?
Partnerships - First and foremost, the partnerships. VeChain has roughly 40 partnerships some of which include Walmart, DNV GL, Microsoft, Renault, and PwC. Not many projects currently have working products let alone the extensive list of partnerships that VeChain holds.
Network Transactions/Usage - Along with these partnerships comes usage of the network. CoinStats just added a "Spam Flag" which removes blockchains which are clearly spamming their own networks from their top performers leader boards. A scoreboard of blockchains based upon the number of transactions performed on them. After implementing their spam flag VeChain is the third best performing blockchain. If adoption is the key to crypto becoming king, VeChain is the third best crypto doing it. One could take the position that sitting at #32 on coinmarket cap VeChain is under priced.
Staking - Staking and earning some extra value off of your holdings is a clear path the crypto space seems to be taking and one which investors are noticing. By holding VeChain (VET) in a wallet it will generate VeChainThor (VTHO). VET is the token used as the smart payment currency and to run activities on the blockchain. VTHO is the token used to perform smart contracts and run applications on the blockchain.
VTHO - Along with the increasing use of the network, the cost of VTHO will only continue to increase as the network activity does. Increasing the profitability of staking VET.
Working Product - When looking at many other blockchain projects most have no working product. Even if they do it's in their "test bed" phase or just going live. Forget about having actual real world use cases or businesses using their product. VeChain has forged partnerships with industry leaders in many different business cases.
Minimal Marketing - It seems like many projects firmly believe that the louder they are, the bigger their social media game, and the more of a cult following they have is directly correlated to their success (talking about you TRON). While in many ways this can be true. Popularity in this space is a desired quality when most projects are on the same level with no real working product yet. However, it seems to promote many projects making questionable decisions in hopes of generating "big news" or a stir in the community. Their popularity also enables them to neglect their product to a degree in search of these big news breaks.
VeChain has almost abandoned marketing and your typical cryptoverse hype. This has led to it not being as known as many others. I believe this is a huge factor in the current price of VeChain. Since there is very little marketing or hype surrounding the coin, not many are aware of the project or the progress so far. I firmly believe that once investors start to realize this that they will be the ones that start to generate buzz through the community. Once everyone else catches on VeChain will skyrocket.
