On those rare occasions when they hazard to venture outside these walled gardens, it’s generally on a large-cap cryptocurrency network with brand recognition: Ethereum, Ripple (XRP), and Stellar rank among the usual suspects.
So when one of the world’s largest retailers announced that it would launch a food traceability platform on the public VeChain blockchain, it raised plenty of eyebrows – not to mention the lesser-known cryptocurrency’s token price.
VeChain Cryptocurrency Surges as Much as 68%
The vechain token price went ballistic following the announcement. On Binance, VET perched as high as $0.0114, up from a daily low of $0.0068 for an intraday gain of 68%.
The vechain price rallied as much as 68% after Walmart China announced it would build on the VET blockchain. | Source: TradingView
By press time, the vechain price had tailed off to $0.089, representing a 24-hour gain of 25%.
At this level, vechain ranks as the 28th-largest cryptocurrency with a circulating market cap of $502 million. The asset has $255 million in reported daily trading volume, while its “Real 10” volume (which measures volume only from 10 trusted crypto exchanges) stands at $94 million.
Walmart China & PwC Choose VeChainThor for Supply Chain Platform
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