- VeChain has established itself as a leader in blockchain applications for real-world assets.
- It currently has a 35% market share in IoT, and the sector is expected to see significant growth in the coming years.
VeChain has become a leader in the application of blockchain for real-world assets (RWA), distinguishing itself with practical and impactful solutions, according to RichBitLord. By being proactive, VeChain had already identified the potential of RWA before many even understood the importance of the concept. Therefore, by focusing on value-centric and high-performance applications, VeChain has become an example of the blockchain industry.
This has led to the company’s success through the execution of global projects where the application of blockchain in real economic transformations has been demonstrated. He also highlights that while most others in the blockchain industry are looking for future benefits, VeChain has consistently delivered practical outcomes that shape how blockchain adoption occurs in real-world economies. VeChain’s approach illustrates how blockchain can connect traditional and digital economies, reinforcing its value and relevance.
VeChain Pioneers Blockchain Solutions for Real-World Assets
As previously reported According to Crypto News Flash, VeChain is one of the leading pioneers in the blockchain market, focusing on IoT and global asset ownership. Currently, the company has a 35% market share in IoT, an area that is expected to grow from $280 million to $21 billion by 2032 at a CAGR of 54%.
The future of IoT largely depends on blockchain and its ability to provide better protection, manage device identity, and enable payments within devices. With the number of IoT devices projected to grow from 19 billion currently to 40 billion by 2020, blockchain integration is paramount in order to control this network of devices.
Transportation is well-positioned to become one of the leading IoT sectors, as it is already used for traffic signal control and traffic data analysis. Smart cities and autonomous vehicles are becoming increasingly popular, and VeChain’s early investments in IoT put it in a good position to further develop this rapidly growing sector.
Market Analysis Shows VeChain Price Movements
The price of VeChain (VET) has also recently suffered a significant decline, trading below $0.20. This change is in line with normal market volatility according to analyst RichBitLord, but he adds that VET is still in an upward trend. He supports his opinion with a chart suggesting that the support level is strong.
Historical trends indicate that VET fell drastically in 2022, but then recovered to around $0.020. The current market situation also reflects this trend, meaning that trading above the $0.019 and $0.025 support levels could enable a bullish rally.
Additionally, in a recent report, analyst EGRAG CRYPTO predicted the future price of VET and estimated that it could rise by 4,324%. If true, VET could reach $1 by the end of the current market cycle. The analyst notes that the lower end of Channel 1 is now marked, a situation that suggests a price rally typical of previous cycles.
