VeChain vs Chainlink: A Close Comparison

VeChain (VET) vs Chainlink (LINK)

VeChain is a blockchain technology that aims to solve the world’s economic problems from the activities of its members. The members can host Dapps and start business projects. Also, they can share, track and store information of the business projects using the blockchains technology.

Each product in the business is assigned a specific QR code. This allows the owners to track the activity of their products in the market.

VeChain ensures the movement of authentic, efficient, and trustworthy information within its blockchain and the market. With this technology, companies can now create and track real value first hand and alter their services and products to offer more value.

Chainlink is a decentralized service that allows users to forward data from off-chain resources onto blockchains. Since smart contracts and ERC 20 tokens can’t access data on their own, a decentralized service like Chainlink helps them access the data.

Chainlink receives the data, stores it, and can transmit it bidirectionally. It aims to integrate off-chain data into smart contracts using the Oracle decentralized network.

Tokenomics VeChain vs Chainlink

Chainlink‘s main currency is the link with the Ethereum tokens as its hash algorithm. At the time of writing, it has been in a weekly bearish rally. It is currently trading at $35.80, a market cap of $16,604,510,324, and a daily volume of $3,070,899,066. The maximum number of links in supply is a billion links.

VeChain’s main currency is the VET, with the VeChainThor Authority as its hash authority. At the time of writing, it is trading at $1.63 and has been in a weekly bullish rally. It has a market cap of $10,543,453,683 and a daily trading volume of $1,271,462,475. The maximum number of VET in supply is 86.712 billion VETs.

If we compare the market valuation of both, Chainlink has a higher market value than Vechain.

Which has More Potential VeChain or Chainlink

Chainlink chart

As per the Tradingview charts, Chainlink has been in an annual bullish trend. The rally led to an annual high of about $52 in May. After the high, it has been in a retracement till now. But the price has tested the last demand zone and collected contracts for a bullish rally.

We expect a long-term bullish rally to have begun. But for a short-term trend, the price has not broken the short-term high. So it might be in a consolidation till it breaks the high. After breaking the high, the price will break the all-time high.

For a long-term investment, we advise investors to buy Chainlink but for a short-term investment, wait till the price breaks the all-time high.

VeChain chart

As per the Tradingview chart, VeChain price has been in a long-term bullish trend. It hit an annual long-term high of $0.28 and has been in a short-term retracement. Price has hit a demand zone and has begun a bullish rally that might break the annual high. It has also broken the short time high. Thus both short-term and long-term bias is bullish.