Nasdaq is the world’s first electronic exchange able to buy and trade stocks and has recognized the potential of Vechain (VET). Nasdaq pointed out that VET is one of the virtual assets in the crypto market and is expected to be profitable in 2021.
Other Prominent Personalities Have Also Acknowledge the Potential of Vechain
Pietro Palamara of the Polytechnic University of Milan, Italy, recently did an academic article about blockchain involving cryptocurrencies. He specifically mentioned that:
“Developers of Vechain aim at completely eliminating the threat of the market of counterfeit goods, using the potentialities of smart contracts and blockchain technology.”
He also pointed out that VET is a digital currency created by some of the world’s famous people. He said: “Vechain is a permissioned blockchain platform based on Ethereum blockchain, it was developed by the Chinese BaaS company BitSe, based in Shanghai and founded by ex-managers of IBM, Louis Vuitton and Alibaba.”
In addition to Nasdaq, VET also caught the attention of Scott Melker, also known on Twitter as the “The Wolf Of All Streets“. In an interview with FOX, Melk stated that VeChain is an incredible company because it improves supply chain management. He also stated that VET can solve the problems of many large companies and institutions.
VeChain (VET) Price Analysis
At the time of writing, VeChain’s (VET) market is precisely following the pace of the ETH market and has seen a drop in value. Since yesterday, crypto assets have been on a downward trend. The recent price hike caused VET to break the $0.1204 support level at press time to trade at $0.1121.
However, given the downtrend, the market has started preparing for the bearish impact. The parabolic zone mark is aligned above the candlestick, indicating that the asset was not bought at the current price, but mainly pushed down. Although VET has recovered briefly, general market sentiment remains bearish. The MACD line was crossed below the signal line on May 26th to confirm this. Since then, the alt’s price has been falling.
VET/USD. Source: TradingView