VeChain has made headlines lately. VeChain is a cryptocurrency that has exercised great promise over the past few weeks. Reeling in glory from announcements within the MOBI project and a huge partnership with PwC Hong Kong and PwC Singapore, VeChain has seen gains of significant proportions.
Notably, the PwC announcement has had a profound impact on the value of VeChain. The announcement see’s VeChain pair up with one of the biggest professional services companies in the world. In the race for cryptocurrency and blockchain adoption between companies like PwC, Deloitte and EY, VeChain now have a real head start, assisting PwC within a huge new blockchain research project.
The partnership, promises to gel the professional services industry and the blockchain revolution, giving PwC’s clients access to innovative new products, designed to make their lives easier. Think logistics and smart contracts, thats what VeChain and PwC aim to offer.
How is VeChain performing at the moment?
At the time of writing, VeChain sits at a value of $4.68, and is down 8.90%. Let’s just consider that through the current state of the markets, this is indeed expected. Overall we are seeing the majority of major currencies take huge falls. This, comes off the back of a weekend of negative movements, all which in turn have led to the demise in the value of VeChain. Last week, VeChain peaked at a value of $5.32, moving VeChain back up towards its all time high value of $9.45, as recorded during the end of 2017 and the start of 2018, the period affectionately known as the cryptocurrency boom. The decrease we see now, moves VeChain away from the $9.00 threshold quite considerably, ultimately though, not all hope is lost just yet.
As it stands, there is a lot to look forward too for VeChain. As the MOBI project takes off, the currency will indeed see some increased interest and thus some new investment. Moreover the partnership with PwC could provide VeChain with some much needed exposure, exposure that in turn does promise to bring new investors on board.
Will VeChain see $9.00 again? Quite possibly, though at the moment we can’t really be sure when this might happen. Overall though, with such positivity within the community and of course, such a huge name working with VeChain behind the signs, we expect to see VeChain make tracks back up to $9.00, potentially even beyond, assuming that the markets straighten up in good time. As it stands though, we could see this decline continue through the end of the week which in itself, does bring negative connotations.
For now, let’s wait and see how VeChain matures, hopefully soon enough, this currency can become a real serious crypto-contender, making moves up to $9.00 and maybe even, beyond.