Connect with us

Hi, what are you looking for?

ELEVENEWS

VeChain

How a meeting in China helped VeChain (VET) reach a solid week of gains

  • Chinese meeting regarding the post-COVID period led VeChain to a continuation of its price surge.
  • Over the past week, VET was the 3rd-best performing asset, only behind NEM and Chainlink.
  • VET grew by 23% last week, as it continues to be praised as the best supply chain platform on the blockchain.

Recently, Chinese government officials decided to organize a meeting focused on post-epidemic health response. However, the meeting had significant consequences on the crypto industry, as VeChain price managed to continue growing, securing an entire week of gains for the project.

Chinese officials discuss the post-pandemic world

The meeting, as explained by Chainnews report, centered on the use of digital tools in the country. The goal was to use these tools to revamp the public health system, following the COVID-19 pandemic.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Chinese officials estimated that things like supply chain logistics will be crucial for the post-pandemic response.

Apart from the high-ranking officials, the meeting was also attended by DNV GL Global, and VeChain.

DNV GL proposed one solution for approaching the public health management post-pandemic, based on the international blockchain-based self-risk management platform. The firm’s VPN believes that a coordinated approach is necessary to take control of pandemics, or prevent them from happening.

He also praised VeChain, calling it one of the best candidates for improving the current models. He praised the project’s security, transparency, and credibility of the information.

VET price surges due to the Chinese government’s appreciation

The meeting led the VeChain (VET) price to continue surging, The coin saw 2% growth yesterday, which increased its weekly growth to 23%. On a weekly basis, VET was surpassed by only two other coins ranked among the top 30, and those are NEM (XEM) and Chainlink (LINK).

Currently, VET has a market cap of over $751 million. The project has been widely regarded as the best supply chain management platform built on the blockchain. The platform has also received a lot of popularity in China. Not only was it backed by the state government, but it was also promoted by the local media, making it one of the most appreciated projects in China.

News Source

Advertisement

Trending Post

Chainlink

ChainLink is basically very exciting.  Users have to state that it stirs the imagination and passions of the community in ways that other projects...

IOTA

Senseering offers an IOTA-based solution to create a marketplace for data that can be shared among partners. Senseering’s solution will be used in collaboration...

Ripple

Cryptocurrency investment is becoming a common trend. In the fourth quarter of the year, when investments are said to start doing well, how are...

Ripple

The year is coming to an end, and you may be thinking about how to end it in the best possible way. Looking at...

Copyright © ELEVENEWS