As we all know, 2018 has not been a great year for the Crypto market so far. The market has been hit by constant news of regulation and government bans which has caused a large amount of fear.
The fear and uncertainty has caused the price of Bitcoin to drop massively. Bitcoin was priced at over $17,000 at the beginning of January but is now priced at just over $8,000.
Bitcoin is not the only Crypto to have seen big dips since the start of the year. The majority of the Crypto market including, Ethereum, Ripple, Bitcoin Cash, Litecoin and Stellar have experienced the same bearish trend.
The best performing Crypto
There is however a Crypto that has actually experienced gains this year. That crypto is Vechain (VEN). VEN started the year priced at $2.43 and has risen by 48% to its current price of $3.59.
The reason for VEN’s success when almost all others have seen drops has largely been due to partnership deals being announced, including a deal with BMW.
Two days ago VEN tweeted the following:
Introducing Distributed Data Vending (DDV), the future of compliant data sharing exclusive to VeChainThor. Putting power back into the hands of enterprises, customers, and researchers to collaborate and revolutionize the way the world shares and advances! (@vechainofficial)
The announcement means that owners of data will be able to profit by selling their data on the blockchain. Big corporations make millions by selling data they hold, whilst the providers of that data (i.e. you and I) never see a penny of that. Vechain’s latest announcement looks to change that. You will be able to sell data and information in exchange for VEN tokens.
I would expect the price of VEN to keep climbing over the course of the year, and would not be surprised if it reached $10 within the next 6 months.
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.