VeChain (VEN) Is Struggling, But Why You Still Shouldn’t Sell?

VeChain (VEN) is in the grip of a decline occasioned by the wider market trading in red for the second week in a row. This after a false upside materialized at the beginning of May for all major cryptocurrencies.

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VeChain (VEN) is in the grip of a decline occasioned by the wider market trading in red for the second week in a row. This after a false upside materialized at the beginning of May for all major cryptocurrencies.

The crypto is struggling to consolidate support and avoid breaking below $3.00 that would inflict huge damage to the gains made earlier. VEN is currently trading at $3.47 against the USD; dropping -9.5% and -23% in the last 24 hours and 7 days respectively. While this isn’t an isolated case, it may be a cause for some investors to shift their positions.

It may yet still drop further over the next few days or weeks, but the best position is to hold and ride the bare-knuckled bear beatings. There are several reasons to be optimistic about VeChain in the mid-term and long-term outlook.  Here are two main reasons why you shouldn’t sell just yet.

VeChain THOR Mainnet launch

VeChain Thor mainnet will launch on June 30, 2018. It heralds a new chapter in the great story that is VeChain cryptocurrency. The platform has been designed to provide the framework upon which the transformative Blockchain X is built.

The platform will make it easy to integrate Internet of Things (IoT) and the next generation blockchain. What this means is that VeChain will be able to provide enterprise-ready public blockchain solutions cutting across the entire supply chain and management. With significant inroads already made in areas like food and luxury goods, shipping, insurance, logistics, and retail- it could be about to get bigger than this.

Public testing of the project has been going on since early May. Another one of the Public Alpha tests is scheduled for June 15, 2018. What’s exciting for investors as the launch approaches, is the rewarding of token holders. The VeChain network will have a dual token functionality. The VET token will be useful in generating Thor Power (THOR). It’s no different from what happens with NEO and GAS.

After the launch, VET holders will be able to participate in the generation of THOR while staking. As a result, those that qualify will earn staking rewards on a daily basis. So, hodling could turn out to be very lucrative on the VeChain platform.

VeChain’s capacity to grow and reach mainstream adoption

There are very few of the altcoins that have so much in the pipeline as does this crypto. The number of enterprise applications made capable to run on the VeChain platform is enormous. By early 2018, the platform had over 200 business and partnership deals that were all looking to leverage its blockchain in various fields.

Now that number could explode in by 2019 with the launch of The VeChainThor.  The “One Click” deployment tool is designed to enable businesses and individuals to quickly and easily create as well as manage customized blockchains, smart contracts, and application programming interfaces (APIs).

All of these growth potentials is further helped by multiple high powered partnerships-the main route through which VET and Thor Power will find useful. It’s difficult to fathom a company like BMW or Kuehne+Nagel getting into a deal that would not be productive.

And with more than 10 such household names supporting it, VeChain has the potential to break into the top tier crypto listings. However, the best part revolves around the expected growth in sectors like health, agriculture, luxury industry and so on.

It’s a bullish outlook for VeChain (VEN) and selling would be disregarding obvious growth patterns that can’t be compared t the moment in crypto. Did I mention that VeChain could be getting even more interesting with possibilities of being approached by some governments out to curb the global counterfeit menace?

There are other reasons as to why an investor shouldn’t be selling their VEN at the moment. These include the expected market recovery and possible rally by July. That and the fact that this is one of the platforms expected to make the cut and survive into adoption means any move made now would be to consolidate. You can’t go wrong with VeChain (VEN).

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