It was not that long ago that the VeChain was averaging anywhere between 5K and 7K new wallet sign ups daily. This week they are now averaging 23K daily and this has now moved into another gear entirely. This is a project that has bee around since 2015 and is not some new shiny crypto project that has just hit the scene.
This is the quiet before the storm when this project is fully adopted by the real world through it's use cases. These numbers are not retail investors because they have no reason to and for the majority of crypto investors many see this project as dead.
Surely you have to ask yourself why would anyone be signing up for a VeChain wallet if there was no need. 161K this week have a need and next week we will see similar figures again and why this cannot be retail investors because we would definitely see the value of the token rise with these sorts of numbers.
There has been no new news what the VeChain has bee working on lately so this leads me to believe this is all CBAM related with companies preparing for later next year. The Carbo Border Adjustment Mechanism will effect every single company in the world and they can no longer put their head in the sand.
At some point these wallets will start buying VET and VTHO through the need for holding VTHO (Gas Token) in order to pay for transactions on the VeCarbon/VeChain which is the VET and VTHO blockchain. The demand is going to be huge for both VET and VTHO as if each company invested in just 10 000 VET that would generate for free 4.32 VTHO daily. Maybe enough for a small company but definitely not enough for a medium to large size company.
Here are some transactions that took place this evening with 1 transaction averaging at a cost of just over 1 VTHO. The 10 000 VET generating enough for 4 transactions daily so one can see where this is heading. Supply and demand is what fuels the value of any product and VET and VTHO will be in high demand at some point later next year. Remember CBAM only starts charging the border taxes from January 2026 so companies need to be fully compliant before that date and will be using the blockchain long before the start date.
Transactions are still ticking over with nothing to set the alarm bells ringing just yet.
I have no idea when this might happen and why I am paying careful attention monitoring the daily transactions hoping it happens later than sooner. VET and VTHO is an investment I have bee holding back on as I saw no real urgency, but this could change and force my hand to change that thought process. The wallet numbers are not equating to more transactions yet, but this will happen possibly in June/July next year which would be 6 months prior to CBAM going live. This is a thumb suck, but at the same time do not want to miss out knowing what I know already.
Please DYOR and these are just some thoughts I am sharing due to the number of wallets being added weekly.
Posted Using InLeo Alpha