Last week I started a series that will focus on Cryptocurrencies with huge upside potential in 2018. These picks are going to be based mainly on fundamental analysis of said cryptocurrencies. Also, like I pointed out last week, always DYOR and have an investment strategy tailored to accomplish your own goals. But for the love of all things good, do not set unrealistic 'moon lambo' type of financial goals.
Today we'll look at a coin that most of us are already very familiar with and probably bullish on...
• VeChain (VEN/VET)
If you were only to listen to the supporters of VeChain, you'd think it'd be the next top ten coin; if on the other you listen only to the detractors, you'd think it's just a scam. But like most things in life, the truth is somewhere in-between.
Looking at their momentum, It's easy to be bullish on this project if they can keep it up. They've already secured a good number of impressive partnerships and are particularly noted for their transparency. They published their sales figures, financial records and other key performance indicators which is a refreshing approach to the crypto market.
The rebranding to VeChain Thor could also be a game changer. Imagine a world where you could track the source and quality of any medicine before ingesting it; that's what VeChain hopes to achieve as it revolutionizes the pharmaceutical industry.
Statistical Data at the time of writing this:
• Current Price: $4.84
• Circulating supply: 526,019,148 VEN or 0.00055274 BTC
• Volume (24 hrs): $34,254,600 USD or 3,914 BTC
• Market cap: $2,544,554,505 USD or 290,752 BTC.
It's going to be interesting to see how Vechain expands and grows in price the rest of 2018. One of major driving factors of its growth has been and will continue to be partnerships, considering how much corporations would have to pay for the Thor tokens. Their public dApps are probably going to be huge too as dApps and ICOs running on the VeChain network would also be utilizing Thor tokens. In the future new ICOs will be introduced to the Vechain Thor protocol with the added benefit of built-in KYC AML with VVID dApp and the regulatory compliance with the VSCC.
VeChain is currently the top supply chain blockchain out there which puts a target on their back but if they continue to succeed, they'll most likely expand the company's reach to other industries.