VeChain Is Back Over a $9B Market Cap, Securing the 23rd Spot

Altcoin News

  • Vechain is back over $9 billion in market capitalization.
  • VET bulls to push for a new all-time high.
  • Several high-profile partners have begun using the VeChain blockchain.

VeChain was always praised to be a sleeping giant since its launch in June 2016. In fact, it turned itself into the top 23 market positions. According to CoinMarketCap data, VET is back again to over $9 billion market capitalization.

On the other hand, VET market capitalization last November 17, 2021, is $9.3 billion, but recently, the market was down by $8 billion. However, VeChain has gotten back to $9 billion and secured its place at rank 23rd at the CoinMarketCap.

As VeChain (VET) price continues experiencing a bullish breakout, expect VeChain bulls to push for a new all-time high. Thus, limiting further upside set off with a quick fade back towards $0.16.

To clarify, VeChain has gained traction with its tried and tested blockchain-as-a-service model. Indeed, many high-profile partners have begun using VeChain’s blockchain to streamline its supply chain.

For example, in 2019, Walmart declared it would be partnering with the VeChain Foundation to streamline product management between its suppliers, stores, and customers using its blockchain network. This partnership would be especially for Walmart’s stores in China.

Indeed, crypto investors bullish on the potential of cryptocurrency networks and blockchains to impart real value and innovation within the economy can certainly point to VeChain as one of the leading cryptocurrencies in this regard.