VeChain (VET) prices reach new highs as a result of enterprise-level alliances.

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Real-world usage cases and enterprise-level alliances are only a couple of the reasons driving VeChain to a new all-time peak.

Real-world collaborations and integrations into thriving markets are among the most effective ways of validation for blockchain ventures targeting long-term longevity and universal acceptance. They may also fuel rallies that lead to long-term price appreciation as brand recognition spreads.

 

Since February enterprise-level adoption and a wide array of use cases have worked in favor of VeChain (VET), a blockchain-powered supply chain platform that seeks to use distributed governance and Internet of Things (IoT) technology to optimize supply chain management systems.

VET/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets and TradingView shows that the price of VET has increased more than 400% over the past two months, climbing from a low of $0.0263 on Feb. 8 to a new record high at $0.1344 on April 9

Major collaborations ignite VeChain price

A scroll through the project’s Twitter feed shows that VET’s price growth in 2021 has largely been stimulated by the adoption of its supply chain tracking technology. On April 8 the team announced a collaboration with the software company Salesforce.

VeChain’s platform has already been used on a number of ventures run by its affiliate DNV. DNV manages data from collaborations with the Danish firm ReSea and the Norwegian industrial company Hydro using VeChain’s blockchain solution.

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The surge in VET price and acceptance since early February has also resulted in a 1,000% rise in the price of VeThor Token (VTHO), which is used to pay for network transfers and smart contract interactions.

An early March NFT-related partnership with VIMworld has contributed to increased interest in VET and VTHO, which was accompanied by a steady price rise.

VeChain’s real-world usage cases and the list of enterprise-level collaborators suggest that there is room for more payoff now that global investors are taking a significant interest in the crypto market and the forms that blockchain technologies can be incorporated across different industries.

 

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