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VECHAIN price, news and Forecast (VET US DOLLAR)

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Bitcoin falls below $94,000 as over $568 million outflows from ETFs

Bitcoin falls below $94,000 as over $568 million outflows from ETFs

Bitcoin continues to edge down, trading below the $94,000 level on Thursday after falling more than 5% this week. Bitcoin US spot ETFs recorded an outflow of over $568 million on Wednesday, showing signs of decreasing demand.

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Altcoins Tron and Toncoin Price Prediction: TRX and TON show signs of weakness

Altcoins Tron and Toncoin Price Prediction: TRX and TON show signs of weakness

Tron and Toncoin prices extend the decline on Thursday after falling more than 6% this week. TRX and TON face rejection from key levels, suggesting double-digit cash ahead. Traders should be cautious as both altcoins show signs of weakness in momentum indicators.

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BNB Price Forecast: Poised for a decline on negative Funding Rate

BNB Price Forecast: Poised for a decline on negative Funding Rate

BNB price hovers around $696.40 on Thursday after declining 4.58% in the previous two days. BNB’s momentum indicators hint for a further decline as its Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show bearish signals.

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Ripple's XRP eyes recovery following executives' dinner with Donald Trump

Ripple's XRP eyes recovery following executives' dinner with Donald Trump

Ripple's XRP is up 2% on Wednesday following positive sentiments surrounding its CEO Brad Garlinghouse's recent dinner with incoming US President Donald Trump. If the recent recovery sentiment prevails, XRP could stage a breakout above the upper boundary line of a bullish pennant pattern.

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Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

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WHAT IS VECHAIN?

VeChain is a blockchain platform based in Singapore and China. It has operations in Asia, but also in Europe and America. It was founded in 2015 by CEOs Sunny Lu and Jay Zhang. It’s designed to enhance supply chain management and business processes. It uses physical tracking combined with blockchain records to keep tabs on real-world products from production to delivery, preventing fraud and increasing transparency. VeChain aims to provide a full view of an organization by disintermediating information from data silos.

VeChain mixes a decentralized and a centralized model, which balance will vary as the ecosystem matures, starting with a structure more centralized at the start and slowly giving more power to the community. It wants to become a leading platform for ICOs and for conducting transactions between IoT connected devices. VeChain has two tokens: a VeChain token (VET) as a value layer and a VeChain Thor Energy (VTHO) as a smart contract layer.

Characteristics of VeChain

VeChain was founded in 2015 but the first version wasn’t launched until June 2016. Its main characteristics are:

  • VeChain takes a very specialized approach to its development, designing a specific structure for the movement of goods and services across the supply chain. That makes VET a utility token.
  • It has two token systems: VET, which funds the projects; and VTHO, which powers the blockchain.
  • Blockchain technology records data without giving the option of being changed. That allows a truthful record of the conditions throughout the supply chain.
  • It can be used to verify the authenticity of the items purchased, especially important for tackling fraud in the luxury goods sector.

Differences between Bitcoin and VeChain

  • VeChain runs on top of the Ethereum blockchain while Bitcoin has its own infrastructure.
  • VET specialty is supply chain management to track luxury goods, food, pharmaceuticals, and much more.
  • VeChain has been optimized for performance to process up to 10,000 transactions per second while 4.6 transactions while the Bitcoin blockchain can currently guarantee only 4.6 transactions per second.
  • VeChain has a total maximum supply of 86.7 billion and Bitcoin has a max supply of 21 million.