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Vechain News

VeChain Announced Blockchain Solution For Food Tracking

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VeChain announced the latest partnership with ASI Group and the existing partner DNV GL and will create a new solution based on the blockchain technology that will improve food tracking around the world. Let’s find out more about the VeChain latest news today.

FoodGates, the latest blockchain solution, is powered by the VeChain thor public blockchain and is the first solution of its kind. The announcement came at the China International Import Expo 2019 where China’s President Xi Jinping and France’s President Emmanuel Macron attended.

According to the latest announcement from VeChain, FoodGates is the first platform that is built on the public blockchain that will be used for tracking food throughout the supply chain across the world. The new solution will cover the entire life cycle of beef production including, cow selection, slaughterhouse, packing, shipping and reaching the restaurant.

Right before VeChain announced the new solution, President Xi presided over the opening to the event along with President Macron as a part of the official state visit to the country. Over the course of three meetings, the pair agreed to trade deals worth about $15 billion for the French economy for the sale of wine, beef and A350 Airbus jets. Both of the presidents have a lot to gain from their partnership and it was one of the topics discussed after the event.

China is one of the biggest trading partners for France and has a bilateral trade volume of more than $60 billion each year. This figure is slowly growing at a rate of 15 percent each year. If you take into consideration that the agricultural product represents a huge proportion of trade, VeChain is in a top position to capitalize on the market. The FoodGates news came right after the Chinese President expressed his support for blockchain technology. At the end of the month, the markets took a leap at the news and stated that China will start seizing the opportunity that blockchain can bring.

At the time of writing, VeChain’s VET Token increased by more than 10 percent over the 24 hours which could be attributed to the FoodGates announcement. The price has since stabilized and is now at $0.005716 so we’ll keep monitoring it in the next few days.

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Vechain News

VeChain Launches VET Block Explorer And New Wallet Interface

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VeChain launches the latest official VeChain Block Explorer and also the VeChain Sync Ledger Wallet Interface according to the latest announcement that we have in our VeChain Latest news today.This development comes after the sudden discontinuation of the current VeForge services by Totient Labs which is also a member of the Vechain development community. In terms of the new VeChain blockchain explorer, it is expected to go live by the end of November this year according to their blog post.Totient Labs is a popular blockchain startup and a member of the Vechain community that has developed the Veforge explorer and VeForge Vault for Ledger Wallet that decided to discontinue the services to VeChain this leaving the latter with no choice but to simply launch a new official block explorer and user interface for Ledger wallet. VeChain launches the new explorer and a new wave of adoption is expected. In the previous news, we also read that VeChain price trading at $0.003522 with a daily increase of more than 6%. Just like most of the altcoins, the VeChain crypto news shows that the momentum around the coin is solid. However, on a monthly scale, the VeChain price and VET token are down from 0.004229. That said, there is not much positive momentum right now. As it stands, VET will suffer as much as Bitcoin and other cryptocurrencies suffer right now. In comparison with the other coins, for example, the ETH news shows that the biggest altcoin out there dropped by more than 30% and went from more than $220 to a new low of $180 which is the current price for Ethereum (ETH).Despite the few rises in the first week of the month, the VeChain price reached a low of $0.00359908 on September 13. Even though it has risen upwards since the fall, the current trend shows that VeChain (VET) and its price may fall marginally in the near future. The full VeChain price analysis from this morning shows that there is an upward rise of 13.77% in only a week. When we compare the price of VET today with the one seen on September 13, 2019 (priced at $0.00359908), we can see that VET is now stable and soon may find support at $0.00401.
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Vechain News

Vechain (VET) Is On The Verge Of A Price Recovery

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The price of VeChain (VET) was in the crypto news this morning for rising less than 1% and jumping with a strong resistance level. The truth is, VET has been up by a marginal 0.84% ver the last 24 hours - but more interesting is the fact that it recorded a significant hike of 13% since last week.It all started when VeChain was traded at $0.00419107 on August 21 this year, after which the cryptocurrency started rising rapidly and making the VeChain news more and more popular. However, since it was not able to maintain its efficiency, the VET coin gradually started declining.Despite the few rises in the first week of the month, the VeChain price reached a low of $0.00359908 on September 13. Even though it has risen upwards since the fall, the current trend shows that VeChain (VET) and its price may fall marginally in the near future.The full VeChain price analysis from this morning shows that there is an upward rise of 13.77% in only a week. When we compare the price of VET today with the one seen on September 13, 2019 (priced at $0.00359908), we can see that VET is now stable and soon may find support at $0.00401.When we see the price movement of VeChain from the last 4 days, we can see that the VET coin was initially seen trading at $0.003542 on October 4. Then, the price of the altcoin dropped by 7.63% and it reached $0.003272. The price of VeChain from this point escalated by 12% to the highest touch point of $0.003665 established early this morning. The value then dropped slightly by around 5% - but all of this shows that VeChain is in a good momentum lately.What our traders advise is to purchase new coins as per the current trend. We can see a lot of energy surrounding altcoins as XRP, XLM and ZRX are leading the news today. The CMF indicator for VET also points out that the movement at present indicates a downward trend. This is why many traders are looking forward to investing in VET and gaining on the short-term basis.The total cryptocurrency market cap today is at $225 billion and (besides a few altcoins), the market is in a consolidation period.
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Vechain News

VeChain Price Is Down By More Than 20% In The Last 25 Days

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If you are following our VeChain news, you probably know that VET is one of the hottest altcoins to watch out for. Despite it being on the 33rd position on the top cryptocurrencies list, it is definitely a coin worth investing it. However, this month's update shows that the VeChain price is down by more than 20% over the course of the month, indicating a potential bearish momentum.Recently, VeChain released its annual report where the company elaborated the details of all the partnership and future roadmaps. The report showed that the foundation mentioned about its partnership with San Marino Innovation and DNV GL. The report also focused on the VeChainThor Blockchain adoption in the republic - becoming the first carbon-neutral country.However, the VeChain coin news show that the VeChain price did not benefit much from these positive news. The blockchain was the only one that got a real benefit - recording the highest number of transactions that summed up to 1.1 million with more than 35 million VTHOs burned.What we can see at press time is the VeChain price trading at $0.003522 with a daily increae of more than 6%. Just like most of the altcoins, the VeChain crypto news show that the momentum around the coin is solid. However, on a monthly scale, the VeChain price and VET token is down from 0.004229.That said, there is not much positive momentum right now. As it stands, VET will suffer as much as Bitcoin and other cryptocurrencies suffer right now. In comparison with the other coins, for example, the ETH news show that the biggest altcoin out there dropped by more than 30% and went from more than $220 to a new low of $180 which is the current price for Ethereum (ETH).In comparison to Bitcoin, VEC falls short of a good rise. BTC is right now at $8,400, recovering after yesterday's steep fall to $7,700.What is good is the fact that some momentum is building up on the market. We can see that the total cryptocurrency market cap is now at $223 billion which is higher than $11 billion compared to yesterday's levels. The 24 hour volume is at $60 billion which is another solid sign that a bullish action may be nearing. 
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Ethereum News

Deloitte Left Ethereum For VeChain, Made 20+ Smart Contracts Per Second

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Deloitte Left Ethereum
Deloitte left Ethereum for VeChain which uses the Proof-of-authority method and processed more transactions than Bitcoin according to executive Cillian Leonowicz. The executive wrote on LinkedIn explaining the company’s activity and we are about to find out more in our altcoin news.Leonowicz explained in a blog post:
‘’We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain – we managed to execute 20+ smart contract transactions per second.’’
Deloitte left Ethereum a week ago after the company explained they will be moving onto VeChain. Also, BMW joined the VeChain network as well and the transaction news comes after the announcement by Jaguar Land Rover where they also announced utilizing the IOTA blockchain as a crypto solution. Many significant companies are starting to build on less-popular platforms such as VeChain, EOS, and Tron. VeChain is an enterprise-ready solution as per their description.VeChain managed to process about 396,000 transactions on Sunday compared to Bitcoin’s 359,000. As per the best cryptocurrency news sites, the total value of VeChain transactions is less than the one transferred to bitcoin. The price of VET is currently at $0.006417 with about $11.5 million in trading volume for the past 24 hours.Smart contract platforms such as Ethereum require a small amount of the token base to execute transactions. The news is interesting since only one company was able to push the transactions of VeChain ahead of Bitcoin. You can only imagine what could happen if 20 more companies did the same. It also sparks the question of providing a scaling solution for the most valuable blockchain. The limited capacity of the BTC blockchain asks the question how big of a role will scaling solutions play down the road.VeChain processed fewer transactions than Tron and EOS on Saturday since both of the blockchain process millions of transactions daily. The demand for the VET token is generated organically when large partnerships happen. Companies are then willing to demand tokens in order to conduct their daily businesses. On the other hand, VeChain is seen as an enterprise alternative for the products but it still flies under the radar given its trading activity and price.
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