Analysis Believe VeChain Thor is Extremely Undervalued with Better Up Time than Bitcoin

Given the new partnerships and recent developments at VeChain Thor, some proponents consider it undervalued and with better uptime than Bitcoin. The platform powers decentralized apps on its blockchain network.

About VeChain

VeChain is a smart contract platform that enhances business processes and supply chain management. In 2018, the platform rebranded to VeChain Thor. The rebranding saw it develop beyond supply chain management and started powering smart contracts like Ethereum. Its steady rise saw the company behind its smart contract platform announce partnerships with PWC Asia, BMW, and NRCC, a Chinese consulting firm. 

VeChain Thor has a fully programmable layer-1 smart contract platform known for solving real-world business problems at Haier and Walmart. VeChain has become a household name over the years, producing blockchain solutions for complex business problems touching on climate change and sustainability. Examples of these projects include the “ReSea Project,” which seeks to stop the Ocean Planet Crisis, and the “carbon banking solution” for real estate sustainability through blockchain. 

VeChain Thor is Undervalued

Even though VeChain Thor’s solutions to help reduce the impact of climate caused by mining cryptocurrency have gained media attention, the platform’s contribution remains largely unrecognized. As of today, VeChain Thor’s token VET has a correlation of 78% with Bitcoin. According to analysts, this value is likely to decouple from Bitcoin, especially with a stronger industry use-case launch. 

According to one Redditor, VeChain is undervalued due to various reasons. For instance, he cites the fact that VeChain Thor can offer reliable, competitive solutions to companies by tracking complex business problems through its smart contract applications. 

Furthermore, VeChain Thor has two tokens, VET and VTHO. While VET is for basic smart contract use, the main use of VTHO is smart money for executing various transactions. This significantly reduces the likelihood of speculation. 

Recently, VeChain Thor celebrated a significant milestone in its progress: its main net processed over ten million blocks without downtime. This is slightly better than Bitcoin because the BTC network has recorded 99.98% uptime since its launch. The 100% uptime recorded by VeChain Thor stamps its authority as a scalable and stable smart contract platform. Given that cryptocurrency analysts consider this token undervalued. People anticipate a rally in VET following a pullback.