Analysts believe VeChain is extremely undervalued with better uptime than Bitcoin


  • VeChain price correlation with Bitcoin is 78% but could decouple once industry applications strengthen.
  • NFT gaming projects have arrived on the VeChain ecosystem; Mad Viking Games is the latest addition to the list.
  • PwC China's low-code digital service platform "Air Trace" is powered by VeChain.

Proponents consider VeChain undervalued given the recent developments and new partnerships of the smart contract platform. 

VeChain Thor mainnet hits a new milestone, processes 10 million blocks without downtime

VeChain Thor powers decentralized applications on its independent blockchain network. In 2018, VeChain was rebranded as VeChain Thor, and the platform developed beyond supply chain management to power smart contracts like Ethereum. 

The company behind the development of VeChain's smart contract platform has announced partnerships with BMW, PwC Asia and Chinese consulting firm NRCC. 

Recently, VeChain Foundation announced that PwC Mainland China and Hong Kong's blockchain traceability solution "Air Trace" is powered by the smart contract platform. 

The fully programmable Layer-1 smart contract platform is famous for tackling real-world business problems at firms like Walmart and Haier. 

Over the years, VeChain has produced blockchain solutions for businesses working on sustainability and climate change. These include the "ReSea Project" that is working on putting an end to the Ocean Planet Crisis, the "carbon banking solution" for BYD and real estate sustainability through blockchain for Jones Lang LaSalle. 

The move to reduce the impact on climate change caused by mining top cryptocurrencies like Bitcoin and Ethereum has garnered mainstream media attention, but VeChain's contribution to sustainability remains largely unrecognized. 

VeChain Thor's token VET has a 78% correlation with Bitcoin at the time of writing. Analysts have noted that it is likely to decouple from the top crypto with the launch of a strong industry use-case. 

The token has jumped in on the NFT gaming trend in the recent past. Vulcan Verse, an open-world multiplayer role-playing game, was built on the VeChain Thor network before migrating to Ethereum layer-2 scaling solution Polygon. 

Mad Viking Games is the latest addition to the list of NFT games on VeChain Thor.

A pseudonymous Redditor u/defactow shared their thoughts on why VeChain is undervalued. From tracking products in real-time to tackling complex business problems through smart contract applications, VeChain offers competitive solutions to companies. 

Since the platform has two tokens, VET and VTHO – used as smart money and energy for executing transactions, respectively, – there is a reduced likelihood of speculation. 

The platform celebrated a key milestone in its progress: VeChain Thor mainnet processed 10 million blocks without downtime. The BTC network has recorded 99.98% uptime since its launch based on Bitcoin uptime tracker data. 

With 100% uptime, VeChain Thor has proved its scalability and stability as a smart contract platform. 

Since the token is currently considered undervalued by cryptocurrency analysts, there is anticipation of a rally in VET following a short-term pullback.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Shanghai court confirms legal recognition of crypto ownership

Shanghai court confirms legal recognition of crypto ownership

A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.

More Cryptocurrencies News
BTC hits an all-time high above $97,850, inches away from the $100K mark

BTC hits an all-time high above $97,850, inches away from the $100K mark

Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP