This week, the introduction of a new weekly video: Emerging Coins This Week: a series showing coins and tokens that have been performing well recently. Remember, this is not investment advice and if you wish to invest in these coins, please do your own research.
Vechain VEN : January’s rise powered by new partnerships
Vechain, featuring the VEN token, are the first up in this week’s coin analysis. Vechain are located in Singapore, their tech has been around for a couple of years, and they started trading around the second half of last year. Their product is a blockchain service network, not dissimilar to Ethereum. The current board they have was founded last autumn, their technical team is solid but what is more impressive is their list of investors, partners, and advisors.
Partners include PWC, a multinational professional services network headquartered in London, and various manufacturing and supply chain partners including Kuehne and Nagel. Among their past achievements are supply chain tracking, verification and management – especially of luxury goods – and avoiding counterfeiting.
The current position of the token is quite favorable; it has been steadily growing but the recent growth spurt started just before Christmas. It hasn’t been hit by the crypto crash quite as hard as some other tokens and has recovered well from some sharp corrections in the market, while others still lag behind. In December they were sitting at roughly the $0.30 mark, and the highest peak was over $9. The current price of the coin is $6.70.
This energetic new spurt of growth was driven by the recent news of a partnership with Fanghuwang, a company that deals with analytics, lending, and mortgages. Jim Breyer of Breyer capital is one of their key investors, who is not only financially invested in the company but also acts as an advisor as they move into financial sectors.
They are in the midst of a planned re-engineering event that will launch the Vecahin Thor network and will see the introduction of the VET token compared to the present VEN token; the workings of this will need some close examination. Vechain is getting a lot of press attention at the moment; their token can be bought on Binance, HitBTC and Kucoin.
Waltonchain WTC: remodeling the Asian fashion industry
Waltonchains ICO was a fairly low-profile event for most Westerners but the coin has in fact been consistently traded and purchased since it was a mere $0.50-$1 in autumn of 2016. Its growth has been steady and impressive over the past year and it hit an intense period of growth in January, rocketing up to over $32. It has managed to maintain its value and has only dropped slightly to in and around the $30 mark. Their growth, though deserved, has been quite surprising given the nature of the market at the moment. It hasn’t been easy most of the crypto world these past few weeks.
There was skepticism surrounding the project at first, with many believing it to be just another competitor to IOTA, but as the year finished up the actual value of the offering becoming clearer. They have struck up some strong partnerships with a few leading Asian fashion brands and have successfully incorporated their ideas and tech with RFID (contactless touch payment solution) transmitters.
They have a great thing going at the moment and have excelled at getting their RFID tag technology working with economy and solid performance. This allows them to offer a valid network base and retail applications that the market will take a serious liking to. The stats don’t lie: it is a solid organization and because of this they have reached the 40th position on Coinmarketcap.com
They had their debut on Binance back in October and they are currently listed on CoinNest, OKex, HitBTC, and Kucoin. Their substantial growth in the last week has led to speculation on the possibility of a short-term correction before the coin can climb again. As for the long-term, there are a good few predictions doing the rounds. Many believe that this token has potential to grow, even in the current unstable market.
The fate of both Vechain and Waltonchain are anyone’s guess. Judging by their recent consistency in growth it is not outside the realm of possibility for them to keep growing and to experience more substantial gain.