Two ginormous cryotocurrency events are scheduled for the 26th of February this year. The first is the scheduled release of Litepay in 41 countries including the U.S, China, Japan, U.K and Germany. The second is the re-branding of VeChain (VEN). I am no geologist, but these two events are destined to cause some seismic activity that will probably be registered on a Richter scale somewhere on the globe. After which there shall be aftershocks in the cryptocurrency markets as both VeChain (VEN) and Litecoin (LTC) soar to great heights.
I have never been to Singapore (the home of VeChain), but if my party antennae are accurate, the event will be a big one over there. Besides the usual presentations in front of a ginormous screen with a crowd of equally excited participants and audience, I predict a good after party. I can even see in advance the house-music playlist the D.J will play! And the spectacular laser light display that night. Perhaps it will be a good event for one of us VEN fans to attend!
You can clearly see that I am getting excited mentioning the event even with me being over 5,000 miles (8,046 km) from Singapore. It is such excitement that many VEN enthusiasts believe that 2018 will be the year for VEN on three levels: coin value, applications and adoption of those applications.
Regarding coin value, VEN has done wonders in the exchanges as the rest of the market was bleeding. On January 22nd, it had reached its peak of $9.37. At its most recent lowest price, VEN was valued at $2.69 on February 6th. This was also the same day when all our coins did a drastic nose dive and Bitcoin was valued at $6,149. But VEN has since recovered and is valued at $5.08. This is an 89% price increase in 11 days. The only coin that has beat this performance is Litecoin with a 99% increase within the same time period. One can even wonder if these two coins are joined at the hip in terms of destiny in the Crypto-Verse.
The total supply of VEN stands at 873,378,637 with the circulating supply being 470,608,367. This is a relatively lower number than the likes of Ripple with 39 Billion coins in circulation and 100 Billion total coin supply. Such a low number of VEN tokens guarantees a rise in value whenever there is demand. As we speak, VEN has done 16.83% in gains in 24 hours. Imagine what will happen on the 26th of February when the D.J plays that House-music at the rebranding event.
Also to add, is the news of a PwC and DNV GL utilizing VeChain as a core technology. This is proof of concept and adoption of the VeChain platform. These partnerships have cemented VeChain in the crypto-verse as a powerhouse in enterprise blockchain technology. These two parnerships have also led to the first and second releases of their Apotheosis or grand developments of the VeChain project. The third apotheosis will be the re-branding on the 26th.
The re-branding is rumored to include, but not limited to, changing the name of the VeChain tokens to VeChain Thor tokens operating on the Thor blockchain. The coins will have the symbol VET and will involve a conversion of the current VEN tokens to VET in a ratio of 1:1.
In a nutshell, VEN is destined to be re-branded as VET on the 26th of this month. And if past performance of the tokens is something to go by, its value will surely go up leading up to the event, during and after. To add to the above, constant developments in terms of partnerships will surly aid in the project’s success and a Moon landing of the tokens.