It’s official, VeChain (VEN) has officially re-branded to VeChain THOR (VET). As of right now, the coin has yet to be updated on coinmarketcap or major cryptocurrency exchanges like Binance. At press time, VEN is currently the only cryptocurrency that is down within the top 20 digital coins. Currently, VEN is trading at $5.68 a coin, down -1.48%, in 24 hours. Obviously, this is not a correct representation of its price, and many exchanges and indexes are scrambling to update, as more information comes to light on the projects rebranding.
The coin launched on November 26th of last year and has since grown astronomically. To date, the coin has grown over 2200%. Its price hit an all-time high over $9.00 mid-January and it could very well reach that price point again with its re-branding and a new partnership. VeChain Thor is already an out and working product that allows businesses to track their products throughout its entire supply chain cycle via the blockchain. This aids in the assurance of quality and authenticity of the products. There are already many luxury goods stores, food/drug companies and logistics companies that are using this ecosystem. News broke this morning that the VeChain THOR team just sealed their biggest partnership to-date.
This morning, when VeChain THOR officially launched, its team announced that it would be teaming up with the global car company BMW. This new collaboration could potentially catapult the coin to brand new highs. The project’s CEO, Sunny Lu, announced the partnership in the video below.
In addition to the BMW partnership, VeChain THOR announced a collaboration with Oxford University. The world-renowned university will aid in the technical development of the VeChain THOR platform. This isn’t the first time a University has linked up with a blockchain project. Just last month, Arizona State University announced its partnership with DASH. Using bright young minds to collaborate on the project’s trajectory is a good move for the project – it has the potential to bring fresh new ideas to the table.
In addition to the partnership, the South Korean cryptocurrency exchange, Coinnest, added VeChain THOR to its trading platform and is offering direct fiat to VET pairing. You can check how the coin is pairing on the platform here. I expect the VEN to VET transition on the major exchanges and indexes to take a few days. Stay tuned as we continue to update on the latest VeChain THOR developments.
Will the newly branded coin bring the thunder and reach all-time highs in the near future? We shall see. What are your thoughts? Comment below.
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