After a strong Saturday, the global market has dropped over 10%. Bitcoin (BTC) is down 8% to US$11,500, and a over 75% of the top 100 coins have also lost Bitcoin value in the past 24 hours. However, there are a handful of strong contenders that have overcome this dip. Among these are Waltonchain (WTC) and VeChain (VEN). VEN is up 2% in USD, currently trading just above $US8.00, with a BTC value of just under 70k sats. WTC is down a slight 2% in USD, and trading around US$29.00. Today’s performance of both coins is symbolic of their sizable
After a strong Saturday, the global market has dropped over 10%. Bitcoin (BTC) is down 8% to US$11,500, and a over 75% of the top 100 coins have also lost Bitcoin value in the past 24 hours.
However, there are a handful of strong contenders that have overcome this dip. Among these are Waltonchain (WTC) and VeChain (VEN). VEN is up 2% in USD, currently trading just above $US8.00, with a BTC value of just under 70k sats. WTC is down a slight 2% in USD, and trading around US$29.00.
Today’s performance of both coins is symbolic of their sizable gains recently, even in the wake of the major bear trend within the past week. Both Walton and VeChain strive to incorporate their blockchain infrastructures to enhance performance and efficiency for businesses.
Waltonchain offers revolutionary technology that combines blockchain architecture with RFID technology. Waltonchain claims to create a “Value Internet of Things” ecosystem, where RFID hardware combined with blockchain software is applied to create a highly secure, fully traceable, and counterfeit resistant approach to supply chain management.
VeChain, like Walton, provides solutions to revolutionize commerce and aid businesses. Unlike WTC, however, VEN is geared towards aiding consumers by providing quality assurance and verifiable genuine products.
Since the beginning of December, WTC has appreciated over four times from just over US$7.00 to its recent high of over $30.00. VEN has proven far more impressive, seeing a growth of over 32x, from US$0.25 to its current price of $8.09. This recent VeChain surge has also taken the coin to new all-time highs. Just earlier today, the coin appreciated to a record $8.31.
Both coins have risen exponentially since inception, as more and more investors recognize potential behind these China focused cryptocurrencies. While both provide impressive technology, much of the value is likely due to speculative purchases in response to monumental partnerships. Both coins have countless top tier partnerships, made up of billion dollar partners. Most significantly, both coins are partnered with different divisions of Chinese national government- Waltonchain with China’s Mobile IoT Alliance, and VeChain with the State owned China National Tobacco Corporation.
Vechain currently ranks 20 on Coinmarketcap, with a market cap of almost US$2.25 billion. Waltonchain sits at 43 with a marketcap of over $700 million. While both coins have grown dramatically from prices in the pennies, they both have huge potential for even more explosive futures. If the coins’ teams can carry out their objectives outlined by their respective road maps, both have legitimate potential in taking hold of a spot in the top 10 market caps.