VeChain has recently been garnering considerable price momentum. The price of VET has surged exponentially, up 50% in the last week. The increased user interest coupled with crypto’s new spree of corporate alliances has been primarily fueling its surge.
In a recent new development, US exchange Uphold may strike a partnership with VeChain, given the network’s massive popularity and price growth.
Also Read: VeChain: VET’s Surge Signals Bullish Trend, Experts Suggest
Uphold’s Head of Research Hints at a Possible VeChain Alliance
Martin Hiesboeck, the head of research at Uphold, took to Twitter to discuss a possible VeChain deployment on cards. Per Hiesboeck, Uphold has been documenting a surge in VET trading activity, spurring new interest in the token.
Hiesboeck emphasized that VeChain has recently been “spiking” on Uphold, portraying increased user interaction on the platform.
The development has been noted at a time when VET has been performing exponentially well in terms of its pricing. The crypto has continued its upward ascent, surging nearly 50% from $0.02977 to $0.05085, respectively.
Also Read: VeChain: How High Can VET Surge This Weekend?
Heisboeck later shared how a possible alliance with VeChain may soon be on the cards.
He later went on to emphasize VeChain’s remarkable progress, adding how diverse its use cases have been as of late.
“VeChain aims to solve major problems in the supply chain industry, such as counterfeiting and product tracing, by providing a transparent and secure method for tracking the lifecycle of products from manufacture to delivery.” He later tweeted.
What is VET All About?
Dubbed a layer 1 blockchain, VeChain intends to simplify supply chain and business management processes. This entails cultivating a stable data flow through the use of distributed ledger technology.
VeChain boasts two tokens notably called the VET and VTHOR. While the first token is used to conduct transactions, the second token is used as “gas” to power the platform.
According to CoinMarketCap, VeChain can play a crucial role in “carbon, supply chain, international logistics, incentivized ecosystems, and automobile passports.”