VeChain Continues Climb (Up 10%) As Proof of Authority Testnet Launches

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Last Updated on 18 March 2021 by CryptoTips.eu

Jeroen Kok

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Technical Analyst Justin Bennett is a fast rising star in the cryptosphere. Proof of this can be seen in the fact that he recently launched a newsletter which teaches trading.

At this moment it’s still free, but if Bennett keeps cracking predictions as he’s been doing for the past few months (he’s calling out VeChain correctly since December), he’ll soon start charging for it just as others in the cryptosphere have done.

Advertentie.

Twitter subscription service

As few weeks ago, we already wondered what the new subscription service that Twitter wants to introduce for members with a large following would mean for some of the more influential members of the cryptosphere.

Analysts like Bennett and also Scott Melker (Wolf of all streets) give out newsletters which discuss their current positions and why they feel these trades will make them money.

Bennett’s letter is currently still free, whereas Melker charges a monthly payment.

Under certain of Twitter’s conditions which will come into force, it may no longer be allowed to run a paying service as this would go against the business model Jack Dorsey is trying to introduce on the social media platform.

Proof of Authority

As for the fans of VeChain, Bennett continues to have good news. Two days ago, he predicted:

$VET technicals remain bullish, 0.072 is key support, 0.08 is holding as resistance on the 4-hour chart and up, 0.10+ in the next couple of weeks still seems likely, IMO. That can change, but so far, so good.

Furthermore, the VeChain foundation also announced that the new consensus mechanism PoA (Proof of Authority) 2.0 was deployed on a Testnet. If that goes live in a few weeks, VeChain might be seeking even higher positions as transaction speed increases.

At the time of writing, VeChain is trading at $0.08014, up 10% for the day.