When I first heard of VET (VeChainThor) a few months ago, I was thoroughly hooked by what they managed to achieve. It is kind of a lesser known crypto project which like most other crypto projects allow users to create dapps (decentralized applications) but their main objective is to provide a reliable data solution for supply chain. And no, it is not all in theory only – businesses have been using their technology right now. If I am not wrong both BMW and Walmart are using VeChain for their keeping track of their supply chain (or at least part of it). Of course there are way more users than just for supply chain as most other crypto projects are. If you were check out their own ecosystem, you will just so amazed at the number of projects they have onboarded. When I first read about it, I too was shocked that how mature the project is right now.
With that all said, the question in mind would be why has VET not pumped yet? I have seen plenty of cryptocurrencies pumping these few weeks as the bull run continues, but surprisingly nothing much going on for VET. Are the markets afraid of projects based in China? I mean the recent crackdown on cryptocurrency ownership might have some impact on the price of VET but honestly I don’t think it will affect that much. And looking at the situation in China, I am thinking that the crackdown should only affect investors and traders of cryptocurrencies rather than just businesses and companies doing crypto projects. How about the lack of exciting news from the developers? Maybe – I have been browsing through crypto news aggregators and it looks like lately we don’t have too much good news coming from the developers. I mean the cryptomarkets are all about people finding excuses to pump a project before the inevitable dump occurs. Looking at the recent SHIBA INU pump tells me that this is still more or less play. Perhaps the VET team might want to start some promotion campaign and let the public know more about what they have plans for the future. Or they should start doing NFTs as well. Look at the money to be made there. Hahaha, no just kidding. In my opinion, it would not be a positive news if they really did that.
At the moment, they are still quite a ways from the all time highs. I had expected them to be reaching the all time highs like a few weeks ago during the dull run. It is just too bad that investors nowadays are not into projects that have real case uses but instead more keen on meme coins or tokens. Perhaps it is time for investors to start looking at such projects rather than just following the craze. It is just so illogical. Anyway I am not a financial advisor. You should always do your own research when it comes to investing your hard earned cash. And please take care!