Disclaimer: This article contains technical analysis, which is a methodology for forecasting the direction of prices through the study of past market data, primarily price and volume. The content presented in this article is the opinion of the author. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence and consult with a financial advisor before making any investment decisions.
Binance.US Adds VeChain
VeChain (VET) is an enterprise-focused blockchain ecosystem that aims to enhance supply chain management. It connects blockchain technology with real-world applications through a comprehensive governance structure, a robust economic model, and advanced IoT integration. With its technology, manufacturers can assign products with unique identifiers to track them through a supply chain.
VeChain was open for trading on the Binance.US platform as of Nov. 7 at 9:00 PM EST. Therefore, users can already start depositing and trading this cryptocurrency in their accounts. VET has only been listed against the US dollar (USD), and its Bitcoin (BTC) pair could be listed later, depending on the demand that it generates.
The listing on Binance.US will provide market access to VeChain for millions of retail investors. This triggered a substantial increase in the price of this cryptocurrency trading as high as $0.006 after the news dropped. Now, it seems like VET could be bound for a pullback before the continuation of its bullish trend.
VET Technical Analysis
Over the last few weeks, VeChain has experienced an astronomical bullish impulse that has taken its price up over 110 percent.