Vechain – Why it’s a high potential altcoin to buy in the bear market

Vechain – Why it’s a high potential altcoin to buy in the bear market

By Motiur Rahman - min read

A combination of low prices and growing adoption makes it a perfect altcoin to buy now

Key points:

  • Vechain is one of the cryptocurrencies with a strong use case, especially in streamlining global supply chains.

  • The Vechain Foundation has opened a new office in Europe to grow Vechain’s market share in the fast-growing European market.

  • Vechain is trading at 89% off its most recent highs, despite its strong fundamentals.

With the cryptocurrency market still heavily bearish, investors are looking into solid projects that are undervalued today but have a lot of potential going into the future. One such project is Vechain. Vechain (VET) is currently trading at a more than 70% discount from its 2021 highs.

Interestingly, adoption has been growing, and Vechain remains one of the cryptocurrencies with a strong use case and the potential to transform entire industries. For instance, Vechain’s ability to track a commodity across the supply chain until it reaches the end consumer has already seen growing adoption in the fashion industry.

The geopolitical issues facing the world today also create the need for traceability of goods across the supply chain. This factor could see Vechain perform better than most cryptocurrencies once the bull market returns.

Is Vechain a promising cryptocurrency buy today?

The price of Vechain is down by 89% from its most recent highs. This means it is trading at a considerable discount given how huge its fundamentals are in the market. One of the pointers to how undervalued Vechain is; is the proactive nature of its team. The Vechain Foundation recently opened a European Tech Center. 

The Foundation stated that the move is driven by Europe’s growing interest in blockchain-based solutions and that Vechain’s tech is strong enough to handle these needs. It all points to VET’s potential as a cryptocurrency with growth potential once the market gains traction again.