VeChain is the most undervalued cryptocurrency, new poll shows

  • VeChain has emerged as the most undervalued cryptocurrency in a poll by financial research firm Real Vision.
  • The cryptocurrency beat Hedera Hashgraph and Ravencoin with an overwhelming majority even as it struggles to hit $0.1 for the first time ever.

VeChain (VET) is the most undervalued cryptocurrency in the market, a new poll has shown. VET beat Hedera Hashgraph and Ravencoin to the throne with an overwhelming majority, at a time when its price continues to chase the $0.1 milestone.

The poll was conducted by Real Vision, a New York-based broadcast media and financial research company, on Twitter. Real Vision started off by requesting its 221,000 followers to submit the names of cryptocurrency projects they believe are most undervalued.

VeChain was by far the most popular pick. Other tokens which garnered substantial submissions were Ravencoin (RVN) and Hedera Hashgraph (HBAR).

HBAR & RVN were too close to call. As such, both will go up against the single most popular response to this post – VET,” Real Vision revealed.

The poll attracted 140,341 votes. In the end, VeChain emerged the runaway winner, garnering two-thirds of the votes. Ravencoin was a distant second at 30.6%, with Hedera Hashgraph being the least popular pick at 3.6%.

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VeChain continues to soar

Despite winning the poll of the most undervalued cryptocurrency, VeChain has the highest market capitalization of the three tokens. With its market cap now at $5.8 billion, it ranks 21st, just below TRON. The token is trading at $0.09 at press time with a 5.9% rise in the past week. Its all-time high stands at $0.0992 which it recorded on March 22. VeChain is still chasing the elusive $0.1 price milestone that would take its market cap to $6.4 billion.

VeChain’s price has greatly benefitted from the continued efforts of the VeChain Foundation which has continued to forge partnerships with several enterprise firms. The latest is with Ubitquity, a blockchain-as-a-service firm that will build its solutions on VeChainThor. As CNF reported, Ubitquity is seeking to use VeChain’s blockchain to power the global title industry.

The Foundation has also partnered with Chinese-French cosmetics firm Yizhiji, aluminum giant Hydro and US vape company Puff Bar.

Sunny Lu, the VeChain CEO, revealed two weeks ago that his firm is also seeking to target decarbonization. VeChain has partnered with DNV and automotive industry giant BYD to build a proof-of-concept based on its blockchain technology.

In the latest news, a VeChain developer has revealed that the Sync2 lite version now supports Ledger, the leading hardware wallet maker in the cryptocurrency market. Sync 2 is VeChain’s recently launched wallet app that opens up the blockchain to wider dApp integration.

The developer, only known as Libotony, attached a screenshot showing Sync 2’s integration with Ledger on his tweet. VeChain has yet to formally announce the integration, though it has retweeted the developer’s tweet.

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Steve has been a blockchain writer for four years, and a crypto enthusiast for even longer. He is most excited by the application of blockchain to solve the challenges facing developing nations.

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