Is Vechain VET the cryptocurrency giant?

By Makingdigital | makingdigitals | 19 Feb 2024

If we talk about decentralization and anonymity in all its essence, we think of Bitcoin. Now, if we talk about an important company that is behind a cryptocurrency, we have to think about Vechain. Today, it is considered one of the most relevant internationally. Vechain's blockchain and technology is providing services to very big fish.

Recently, Vechain has announced a major update to its network and wallets. Account Abstraction (AA). An updated model of your network that provides more flexibility, security and interoperability between different networks. Vechain's goal is to streamline data and cryptoasset transactions with a high degree of security.

Instead of doing everything manually, smart contracts that are programmed within the Vechain network will now allow users to trade with more confidence. For example with multi-signature services, which do not expose your identity but are necessary to confirm that it is you who is actually authorizing the transaction. Likewise, a white list of users, who will have higher priority on the network.

The big question is: How does this affect you if you are a Vechain investor?

As an investor in this cryptocurrency, little. Frankly little. Those 85.99 billion maximum supply that it has dilutes the price considerably and expecting a rise to around 0.28 (ATH) or even 0.20 this year seems incredible.

Its business relationships with international partners such as Groupe Renault, UFC Sports, Chinese and Japanese telecommunications companies, food distribution chains, and even government entities place it in a very good position for the future. A future that perhaps you cannot enjoy. At the end of the day, we are here to profit financially from an asset. The support behind it is usually irrelevant to the price.

Vechain needs to attract many buyers and investors to reach a historical milestone, which would be breaking its maximum price reached. Although the market trend points to growth in the portfolios of VET holders, there are still many kilometers left and a large part of them have to be traveled by Vechain, not Bitcoin. Bitcoin is king and everyone follows the king. When the king speaks the rest remain silent. When the king rests, the rest have to take advantage to climb positions in the ranking.

Personally, I look for price, a higher price. I don't care what business associations you have or may have. I am not a partner of the company nor brother-in-law of the creators and owners. I am a speculator, a cryptocurrency trader, in miniature of course, who seeks to get a return on my savings by investing in important cryptocurrencies.

Vechain is important, it is a giant. I do not doubt it.

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Entrepeneur, writer and Cryptolover. My site in Spanish


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