HiveComb

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Do not believe everything you read on social media because they will tell you the VeChain is dead and is going nowhere. The VeChain is known for it's supply chain and logistics role but they are involved in far more like carbon emissions and they are considered the gold standard for carbon emission data. The EU is relying on the VeChain for their CBAM figures so read into this what you like as this is seriously massive when it comes to daily transactions.

For the last 4 years I have researched and paid close attention to the VeChain which for those that have no clue is VET and VTHO (gas token). The tokenomics are important with this as 36 million VTHO are generated daily so in order for the price to rise out of demand VTHO has to increase in spend via transactions.

I pop my head into the VeChain Stats site a few times every month as this is going to take off at some point and I need to watch for signals. Having roughly only 20% of my target VET and VTHO targets this is one investment that has taken a back seat due to no urgency. This I believe will change next year and will be an important part of my portfolio for the next cycle knowing CBAM goes live in January.

What I noticed today is the volume of transactions has steadily increased and it is as though the entire chain has grown in volume by another 20%. The transactions are similar in number to the clauses which are multiple transactions so this is not Walmart having a busy period and is just an average normal day or week in this case. This is actually rather important as it shows the blockchain (VeChain) is getting busier and normal adoption is happening. Having one large client active kind of skews the figures and does not give you the full picture so this is an average type week right now. How you know is the clauses are far higher then the transactions due to the size of those transactions being many transactions counted as only one. An example could be 300K transactions, but 1.2 million clauses happening on one single day where as this week we see a day with 340K transactions and 403K clauses which ultimately means there were 63K transactions extra counted in the 340K. Sounds more complicated than it is, but not really once you understand how these data stats work.

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This above shows the last 40 seconds which are 4 blocks completed with one block completed every 10 seconds. The number of transactions are close to the multiple transactions which are clauses. The VTHO burn is somewhat higher than what we have been accustomed to seeing which is a good sign and very positive.

Knowing that the chain completed 6 blocks every minute the VeChain processes 8640 blocks every day. the 36 million VTHO number created daily divided by the number of blocks tells us that 4166 VTHO needs to be burned in every block and on a daily 1 million burn the chain is averaging 115 VTHO only. Not to worry as this number will rise and a little patience is required before this happens.

The VTHO burn as mentioned above needs to achieve 36 million daily as this is what is created each day. The current burn somewhere between 800K and 900K daily this week shows the chain is heading in the right direction. I expect the 1 million burn to happen daily within the next month so the VeChain would be at roughly 3% of where it needs to be. This number could change rather quickly when the CBAM transactions kick into gear which should be within the next 2 months as companies will be preparing themselves for January. This is why one needs to pay attention and know what is happening, this is far from a dead chain and is literally quite the opposite.

If we were not in the 4th year of the crypto cycle I would not be overly concerned but as we are I need to pull the trigger very soon and accumulate more VET and VTHO. The price is still down like most of the alt coins with a price of VET $0.0239c and VTHO $0.0019c so this is still good news as this has not left the station yet.

Posted Using INLEO