VeChain (VET) is one upside move after the brutal market corrections. However, VeChain crypto has not been increasing with the same rigor as some other cryptocurrencies – with only a less than 1% increase in the weekly timeframe. At the time of writing, VeChain crypto stands at a price level of $0.12. The price has been increasing slightly in the past twenty-four hours while the daily trading volume has been declining.

Is VeChain (VET) going to go up?

VeChain has been gaining increasing popularity amidst the bull run. The cryptocurrency has established itself at a market rank of the nineteenth. The blockchain-based supply chain platform has a unique offering considered to also possess great potential.

China’s favorite cryptocurrency

The VeChain Foundation recently confirmed a meeting with Chinese officials. Government officials from Shanghai, Changing, and Huangpu visited the head office of the Foundation in Singapore. According to the VeChain Foundation, the theme of the meeting was joint collaborative partnerships.

The meeting was attended by representatives from Construction, Commerce, Science, and Technology, and Direct Investment Promotion Committees, and other government officials. Executives from the VeChain Foundation explained the VeChain ecosystem and how it can be used to make a difference in the private sector. VeChain’s potential to offset carbon emissions and its use case during the Coronavirus pandemic was also on the agenda of the meeting. The Chinese officials have been praising VeChain and its offering in the past.

VeChain – one of the best bets

The whole crypto community is converging on VeChain being one of the best bets in the market. The author of the Wolf Den newsletter, Scott Melker, has called VeChain “one of the best bets in the crypto” in a recent interview with Fox Business. Melker furthered that VeChain has the potential to fundamentally transform the way businesses operate while addressing a lot of the issues they face.