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1A. Top 3 Good News for VET HODLERS !!!
- VeChain upgrades to Proof of Authority 2.0 consensus mechanism
Statistic as of 2021-12-13 07:02 AM EDT: 63 positive votes, 0 negative vote
The latest consensus mechanism upgrade is expected to improve several aspects of the network’s security and key operations while making it even more environmentally friendly.
(Extracted from Crypto Panic
- VeChain’s DEX To Launch Governance Token And Yield Farming ProgramStatistic as of 2021-12-13 07:02 AM EDT: 62 positive votes, 1 negative vote
The VeChain ecosystem is expanding at a fast pace. Their first decentralized exchange (DEX) and automated market maker (AMM) called VEX will launch their governance token with the same ticker next week on November 9th, 13:00 UTC.
(Extracted from Crypto Panic
- VeChain (VET) explains why its PoA 2.0 upgrade is a big dealStatistic as of 2021-12-13 07:02 AM EDT: 38 positive votes, 2 negative votes
Leading enterprise blockchain platform VeChain has upgraded its consensus mechanism in view of sustainable mass adoption.
(Extracted from Crypto Panic
2. How VeChain Performs Relative to Other Cryptos ?
As of 12 Dec 2021, VeChain has made a cumulative return of 1,539.38% since Jan 2020 and 433.9% since Jan 2021. It is currently the 10th greatest performing crypto asset since Jan 2021 as compared to the other cryptocurrencies presented above.
3. Technical Analysis on VeChain
VWAP is a technical indicator used by a trader to gauge the overall trend of an asset price movement. VWAP line (orange line) represents the volume-weighted average price (average price here is defined as the average of high, low and close prices) while close price line (blue line) represents the price when VET is closed at the end of every single day.
Whenever blue line (close price) is above orange line (VWAP), it indicates that the asset is gaining momentum and being traded higher than its average price level. This would represent a 'buy' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'sell' opportunity, anticipating that the price of VET (blue line) to fall to its average level (orange line).
Whenever blue line (close price) is below orange line (VWAP), it indicates that the asset is losing momentum and being traded lower than its average price level. This would represent a 'sell' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'buy' opportunity, anticipating that the price of VET (blue line) to rise to its average level (orange line).
As of 12 Dec 2021, VWAP is suggesting that VET is losing momentum day by day this month.
MACD (12, 26) is computed by subtracting the 26-day exponential moving average (EMA) of VET closing price from its 12-day EMA.
As MACD (12, 26) goes higher away from Signal (9), it signifies that VET is gaining momentum and whenever it goes trends at a lower level than Signal (9),it signifies that VET is losing momentum.
As of 12 Dec 2021, MACD is suggesting that VET is losing momentum day by day this month.
- SMA (20) (blue line), which is the 20-day simple moving average price of VET
- Upper Band (orange line), which is computed by adding 2 standard deviations of VET on SMA (20)
- Lower Band (red line) , which is computed by subtracting 2 standard deviations of VET from SMA (20)
- Close (green line), which is the daily closing price of VET
Whenever close line (green) touches the lower band (red), it indicates that VET is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever close line (green) touches the upper band (orange), it indicates that VET is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 12 Dec 2021, Bollinger Band is suggesting that VET has been massively oversold.
Just like Bollinger Band, Relative Strength Index is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. There are 2 psychological levels, i.e. 30 and 70 in RSI. Whenever the RSI reaches 30, it indicates that VET is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever RSI reaches 70, it indicates that VET is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 12 Dec 2021, RSI is suggesting that VET is oversold across all trading windows.
Based on the technical analysis presented above, quantdoge is very bullish on VET, but I could be wrong, hence please make your careful due diligence before making any financial decision.
4. VeChain Risk Profile
Based on the 100-day 95% historical Value-at-Risk (VaR) profile of VeChain defined above, VET seems to trade at a similar risk level on 12 Dec 2021 as compared to 10 days before on 02 Dec 2021, with its biggest pullback being seen at -20.49% on a single day during the last 100 days. However, I could be wrong, hence please make your careful due diligence before making any financial decision.
5. Monte Carlo Price Simulation for VeChain
How did quantdoge simulation perform vs the actual VET price movement over the last week ?
Over the last 7 days, VET is trading near the median (i.e. 50th percentile) path of quantdoge simulations, indicating that VET was neither oversold nor overbought.
6. VET Community Analytics
Number of VET Followers In The Past 24 Months
During the past 24 months, VeChain followers have grown 347.42 % from 117,342 to 525,013 on Twitter and grown 265.4 % from 59,857 to 218,718 on Reddit.
Monthly increment of VeChain Twitter followers peaked on May 2021 and its monthly increment of Reddit followers peaked on May 2021.
7. Google Trends Analytics
VeChain offers a unique dual-token blockchain ecosystem. The primary token of VeChain blockchain is known as VET, which is used mainly in logistic and global supply chain network to solve counterfeit goods problem by tracing and recording the metadata of manufactured goods all the way from its upstream to downstream on VeChain immutable public blockchain with the help of Internet-of-Thing (IoT) technology.
All VET token holders are rewarded with VeThor (VTHO) tokens daily where the amount of VTHO tokens distributed is proportionally related to the amount of VET tokens that the VET token holders hold. You could think of VTHO as a dividend that is paid daily to the VET token holders. All transactions that happen on VeChainThor blockchain were paid using VTHO tokens as gas fees. VTHO tokens have in-built controlled inflation and controlled deflation mechanism where its supply and burnt rate is maintained so that the gas fees are stabalized and do not fluctuate a lot at all times.
7.1. Keyword: vechain
vechain reached its peak in Google Search on 2021-04-11 with a Google Score of 100
Over the last quarter, vechain Google Score has decreased 32.14 % from 28.0 to 19.0
Over the last 6 months, vechain Google Score has increased 18.75 % from 16.0 to 19.0
vechain is mainly sought on Google from Isle of Man, follow by Luxembourg (where Sunny Lu, VeChain founder and CEO resides according to his Twitter) and Netherlands this month.
7.2. Keyword: vechainthor
vechainthor reached its peak in Google Search on 2021-04-11 with a Google Score of 100
Over the last quarter, vechainthor Google Score has decreased 100.0 % from 14.6 to 0.0
Over the last 6 months, vechainthor Google Score has decreased 100.0 % from 4.25 to 0.0
vechainthor is mainly sought on Google from Australia, follow by United States this month.
7.3. Keyword: vethor
vethor reached its peak in Google Search on 2021-04-11 with a Google Score of 100
Over the last quarter, vethor Google Score has decreased 32.93 % from 16.4 to 11.0
Over the last 6 months, vethor Google Score has increased 4.76 % from 10.5 to 11.0
vechainthor is mainly sought on Google from Netherlands, follow by Norway and Ireland this month.
7.4. Summary
Based on the above Google Analytics, it seems that VeChain is gaining interests from EU countries this month.
8. Developer Activity Analytics
Fork refers to the amount of time where the Github repo of current cryptocurrency is being copied. Higher fork number could mean that this cryptocurrency project is getting more interest in the developers community who likes to explore more on the deep technical of this project.
Vechain forks increased 24.85% from 165 to 206 in the past year.
Star refers to the number of developers who bookmark the Github repo of current cryptocurrency. Higher star number could mean that this cryptocurrency project is getting more general interest in the developers community.
Vechain stars increased 60.0% from 450 to 720 in the past year.
Pull Request
Pull request contributor refers to developer who has made a successful improvement/ modification on the Github repo of this current cryptocurrency project. Higher number of pull request contributors could mean that there is a high number of commitment given by developers to this cryptocurrency project.
However, a low number also could mean that the developer community of this project applies a strict standard when it comes to code review, so only developers who have published a high quality code with highly impactful features got approved.
Vechain pull request contributors increased 23.08% from 13 to 16 in the past year.
9. Fun Fact :)
Quantdoge's profile picture is a NFT minted from VPunks (a NFT platform that is developed on VeChainThor blockchain)
If you like my analysis and articles, please follow me at @quantdoge for daily updates.
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