VeChain expands adoption in Europe with new HQ, should you buy VET?

VeChain VET/USD is essentially a layer-1 smart contracts platform that originally started in 2015 as a private consortium chain.

The project launched its own mainnet in 2018 and has a cryptocurrency that uses the symbol VET. The public blockchain behind VeChain runs the VeChain token (VET) and the VeThor token (VTHO).

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European Expansion as a Catalyst for Growth 

Hannover Messe is one of the largest industrial development trade fairs on a global scale.

Husen Kapasi, who is PwC’s Europe blockchain lead, ended up speaking at the Hannover Messe 2022 regarding VeChain technology.

Posted on June 1, 2022, the tweet explains that Kapasi spoke about the connected supply chain at HMI 2022.

Husen said that the main focus of the connected supply chain is essentially transparency as well as sustainability and carried on explaining how the manufacturer and retail could embed end-to-end traceability.

This means that they could essentially track everything from the supplier’s end to the customer’s end. There was even a live demo with an example.

Furthermore, the VeChain foundation originally announced that it would open its first European headquarters on February 15, 2022. Through it, they are aiming to expand the adoption in Europe.

Should you buy VeChain (VET)?

On June 2, 2022, VeChain (VET) had a value of $0.030825

In order for us to get a better perspective as to what kind of value point this is for the VET cryptocurrency, we will be going over its all-time high point of value, as well as its performance throughout the previous month. 

The all-time high point of value of VeChain (VET) was on April 19, 2021, when the cryptocurrency reached a value of $0.280991.

However, when we take a look at the performance of the token throughout the previous month, VeChain (VET) had its highest point of value on May 5 at $0.05437.

Its lowest point of value, however, was on May 12, when the token decreased to a value of $0.02506.

Here, we can see a decrease in value of $0.02931 or by 54%.

With this in mind, at $0.030825, VET is a solid buy, as with the expansion in Europe and overall developments of the project, we can expect VET to reach a value of $0.06 by the end of June 2022.

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*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.