Following the major market plunge that struck the crypto-verse two days ago as the leading coin Bitcoin (BTC) failed to successfully close above the $3,700.00 mark. In a matter of an hour the pair BTC/USD declined from $3,730 to $3,590 retesting the important support $3,550.00 as the monthly lowest mark.
While the total global market capitalization lost $4.0 bln during the deep-dive, token prices are attempting to recover and maintain a footing hoping not to drop again to $100 bln (Dec 15).
However, per time of writing things are looking quite different for three coins lower on the list by popularity as they are aiming for double digits increases in the last 24-hours while leading the crypto-pack towards a possible recovery.
VeChain (VET) – VeChain (VEN) is a blockchain cryptocurrency that operates on the BaaS (Blochchain-as-a-Service) framework. VeChain’s main objective is to decentralize and transform how global business supply and management chains are monitored. VeChain aim to achieve this through the provision of a faster, transparent and trust-free platform.
VeChain utilizes tamper-proof distributed ledger technology (DLT) to monitor and verify the authenticity and quality of products along the supply chain to ensure that the final consumer gets genuine value for whatever they buy. To put it into perspective, VeChain works with the manufacturers and suppliers to prevent counterfeited goods from being sneaked into the market at the expense of the general public.
Latest – the technology and possible future real-world cases solution VeChain is being tested by H&M fashion empire for Arket – their clothing brand which is trying out the blockchain based technology to track the respective products. Before anything official was announced or declared by the in-house brand, on the social network Twitter and aggregator Reddit rumors initiated their doing. Afterwards the team from the subsidiary of H&M confirmed that blockchain implementation is taking place:
“Arket has done a small Proof of Concept (POC) through a pilot testing with VeChain to use blockchain technology to secure product data traceability in the value chain,” the spokesperson told Hard Fork. “The test was made on a wool beanie from the autumn 2018 collection.”
In the same manner as VeChain, clearly Waves and Zilliqa are moving towards a speedy recovery which could backtrack faster than many thought the previous-days’ losses.
The teams at Wirex and Waves (WAVES) have worked together to integrate the digital asset on the popular crypto-debit card platform. Wirext also allows its users to buy, store and manage a variety of cryptocurrencies. WAVES joins the major digital assets of Bitcoin (BTC), Litecoin (LTC), XRP and Ethereum (ETH) on the Wirex platform.