GETTY VeChain is the only crypto not to suffer big losses this year

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VeChain is priced at $2.70 as of 8pm GMT on April 10, and stands as the 17th largest crypto based on market cap. Much of its success has come following attention-grabbing headlines of partnerships with a variety of companies. Several industries including luxury goods, agriculture, logistics, food and governments are already using VeChain blockchain technology. It is the first blockchain-based security platform to come out of China. The VeChain Foundation, the company behind the cryptocurrency, has this year rebranded and renamed the crypto VeChain Thor.

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The VeChain Foundation said: “This apotheosis is not a day, a logo, or an economic model but rather it is a full revamp from a private blockchain to a qualified decentralized application platform servicing public applications, on a decentralized ledger, capable of evolving how the world defines business ecosystems.” VeChain Thor uses a mix of blockchain and a chip technology to track luxury goods and confirm that they're not counterfeit. Tim Draper, well known Silicon Valley investor has also backed the cryptocurrency. Mr Draper has invested in Skype, Tesla and bitcoin before turning his attention to VeChain. Last month, VeChain Foundation tweeted: “We see eye to eye with our investor, Tim Draper regarding the future of cryptocurrencies and use of blockchain solutions.”