It’s official, VeChain (VEN) has officially re-branded to VeChain THOR (VET). As of right now, the coin has yet to be updated on coinmarketcap or major cryptocurrency exchanges like Binance. At press time, VEN is currently the only cryptocurrency that is down within the top 20 digital coins. Currently, VEN is trading at $5.68 a coin, down -1.48%, in 24 hours. Obviously, this is not a correct representation of its price, and many exchanges and indexes are scrambling to update, as more information comes to light on the projects rebranding.

The coin launched on November 26th of last year and has since grown asTron (available on Binance)omically. To date, the coin has grown over 2200%. Its price hit an all-time high over $9.00 mid-January and it could very well reach that price point again with its re-branding and a new partnership. VeChain Thor is already an out and working product that allows businesses to track their products throughout its entire supply chain cycle via the blockchain. This aids in the assurance of quality and authenticity of the products. There are already many luxury goods stores, food/drug companies and logistics companies that are using this ecosystem. News broke this morning that the VeChain THOR team just sealed their biggest partnership to-date.