The Korean exchange activated trading in the new token on September 21.
Bithumb, one of the most active Korean exchanges, has switched to the new VeChain (VET) digital asset, one of the up-and-coming platform coins. Initially, a trading bot discovered the listing, triggering a surge in prices:
A bit later, the exchange issued its official statement and stopped the trading of old VEN coins. VeChain uses the dual-asset model, and only VET will be traded for now. Meanwhile, VeThor (VTHO) is separately finding its marketplaces.
The listing of the VET asset has rekindled expectations of a new price hike. Reddit users are awaiting an immediate effect on the value since Bithumb will provide a diversified trading profile and access to Korean investors.
After the bot tweet, VET climbed from $0.013 to $0.014 at 3:00 UTC. At the time of writing, it changes hands at $0.014262, up around 8% in the past 24 hours. The price increase also mirrors the general market recovery, which has seen all coins posting gains.
Short term, the VeChain project is attractive for the passive income in VTHO from running nodes. VTHO currently trades at $0.0014 on much less liquid exchanges.
Unfortunately, VET no longer outperforms the market and is down 85% from its all-time high. The bullish factor here is that a significant number of the coins would be locked for staking.
Recently, the VeChain platform introduced its first tracking product, aiming to meet the KYC requirements of the crypto sector. In a blog, the company noted:
“The need for KYC and digital ID maintenance is pivotal for blockchain to see widespread adoption across the world not only from a Cryptocurrency point of view but also in general use. Being able to validate, audit, and trustmembers of the system helps reduce bad players as well as allows government and financial institutions better protect its users.”
VeChain is proud to be chosen by NTT Docomo to be the first batch of partners for the 5G Open Partner Program launched by NTT Docomo, the largest telecommunication company in Japan.
5G is a high-speed/capacity network service which NTT Docomo aims to materialize its industrial usage in 2020.
As the world’s leading enterprise public blockchain platform, VeChain aims to provide next-generation technology services by utilizing 5G in collaboration with NTT Docomo on the VeChainThor Blockchain.
Our goal is to enhance and enrich our current data services capacity within traceability, supply chain management, and smartphones for our users. With our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region.
We are proud to participate in this program, collaborating with multiple cross-industry enterprises. This partnership program has already opened new doors for further cooperation on new endeavors. As a result, many new partnerships have been formulated and services will be onboarded to the VeChainThor Blockchain. Notably, VeChain is currently in close talks with a leading company in one of the most notable Japanese industries. By combining our technology with NTT Docomo’s 5G, the power of the VeChainThor Blockchain continues to become stronger.
About NTT Docomo
NTT Docomo is the largest telecommunication company in Japan, which was founded in 1991. In Mar 2018, with a 45.3% share of all mobile phone subscriptions, Docomo is the leading carrier in Japan. NTT Docomo has also broadened its business into smart life such as the distribution of digital content and mobile payment etc. Now Docomo aims to materialize industrial usage of 5G in 2020, which is also the year of Tokyo Olympics. The usage involves the technology of cloud, IoT, in order to realize new ways of watching sports games involving VR/AR technology, automatic drive and smart lifestyle etc.
The market capitalization of NTT Docomo ranked 2nd in Japan, after Toyota, in 2018.
Among the top 500 most valuable brands, NTT groups ranked 20th.
Operating revenue: 4,769.4 billion JPY, Mar.2018
About Docomo 5G Open Partner Program
Aiming to materialize industrial usage of 5G in 2020, NTT Docomo launched Docomo 5G Open Partner Program in Feb. 2018, to involve a wider range of partners. Consequently, there will be more possibility of creating new scenes under 5G environment.
In this program, NTT Docomo provides the environment of 5G technology verification, as well as the workshops for partners to communicate with each other.
Some major partners in the program include governments and reputable enterprises in multiple industries such as banking, automobile, media, pharmaceuticals, insurance, IT service, etc.
MUFG Bank The Asahi Shimbun Tokio Marine & Nichido Fire Insurance Co., Ltd. Astellas Pharma Inc. Sony Okinawa Prefectural Government
As partners, participants are able to construct their new services under the environment of 5G before 2020. Utilizing the characteristics of 5G(high-speed/capacity, low-latency, connecting several devices) it is now possible to enhance the quality of our services and create new ones.
With the wide coverage of Docomo in Japan and its strong brand power, VeChain is able to bring traceability use cases in Japan into our ecosystem utilizing the 5G environment.
Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!