Although the market is still feeling bearish with slight rises on the horizon among the majority of currencies, VeChain Coin is seen spiking up with a serious pace of growth in the last 24 hours.
VeChain VET spiked up by over 39% against the dollar, currently ranked as the 19th top currency in accordance with its market cap of over 805 million dollars and counting.
While VeChain is gaining on momentum across the internet thanks to the latest integrations and partnerships, bringing big names like BMW to the table, we are witnessing VeChain adoptions that might be the driving force behind the price pump of VET.
Here is how VeChain Coin has been gaining attention for the past couple of weeks.
VeChain Provides Tracing Solution for Vaccines in China
As reported at the beginning of August, VeChain signed the agreement with the Chinese Government around August 3rd while Nasdaq shared the contribution to the news on August 16th, confirming that VeChain will be providing their state of the art traceability for the Chinese government.
VeChain is to provide drug and vaccine traceability solution for China since the authorities behind China Food and Drug Administration discovered illegal activities regarding the previous production of vaccines for school children in China.
Apparently, Changchun Changsheng Biotechnology, the previously signed manufacturer for vaccines, has deployed a great number of faulty vaccines with false documentation.
That is how the Chinese Government turned to VeChain, where this blockchain company will work together with DNV GL in order to produce a unique and efficient solution for vaccine and drug traceability, where the project is set to become available by 2020.
The new VeChain solution is currently being developed in Shanghai, showcasing the applicable side of blockchain technology.
VeChain Partners with Major Japanese Telecommunication Company
After signing an agreement with the Chinese government, several days later on August 5th, VeChain foundation announced a partnership with a major Japanese telecommunication company.
The newly acquired Japanese partner company called NTT Docomo is said to have chosen VeChain for the newly launched 5G open partner program.
NTT Docomo is one of the most progressive telecommunication companies in Japan, meaning that VeChain will be gaining access to numerous industry enterprises starting with NTT Docomo partnership.
As a part of the agreement, VeChain will be participating in developing and taking out the 5G version, a new high-speed network service, as pitched by the Japanese telecommunication company. The new project is said to become alive by 2020, while VeChain added that the team will do their best to provide traceability use cases to their new partners, that way adding an additional value to VeChain as a blockchain-based project.
VeChain Partners with DECENT.bet 2.0
While the token swap is still active and alive as per the announcement published on August 10th, DECENT. bet 2.0, an open-source, P2P gaming and online betting platform announced getting support from VeChain.
Within the recently acquired partnership, VeChain will be supporting DECENT gaming platform in the attempt of revolutionizing the gaming and betting industry through utilization of smart contract technology, which will enable creation and deployment of personal virtual casinos and bets, alongside with creating a large open-source gaming platform.
DECENT originally went forward with choosing Ethereum in the originally released whitepaper, however, as of the most recent case; VeChain will be providing the needed support for one of their latest partners, while the project should be officially launched in September.
VeChain and BMW Partnership Alive After Rebranding
Even though VeChain VEN officially rebranded to VeChain Thor VET several weeks ago with July 30th as an official rebrand date, the VET price has been going down for a prolonged time during the market dip.
However, with the latest change in the market, VET is seen going almost by 40% against the fiat, while it is also spiking up against BTC.
The latest rebranding is probably what got VeChain Thor to a promising partnership with BMW, one of the major automotive companies already collaborating with IOTA (MIOTA).
The latest partnership with the respective automotive brand, BMW, should introduce VeChain Thor to the industry, while Sunny Lu, the CEO of VeChain, shared his optimism about the growing group of partners joining VeChain in their goals.
Alongside with numerous promising integrations and partnerships acquired during the last few weeks, VET also got listed on KuCoin and Coinest, while working and collaborating with the Oxford University as well.