The price of VIDT Datalink has turned parabolic over the past few days, even as other cryptocurrencies have declined. The coin surged to a multi-month high of $0.82, which is nearly 697% higher than the year’s low. According to CoinGecko, its total market cap has grown to approximately $29 million.
What is VIDT Datalink?
VIDT Datalink is a blockchain project that seeks to transform the data integrity and verification industry. The platform is made up of three major services: VIDT API, VIDT Private Cloud and VIDT Smart Contract.
VIDT works in a relatively simple way. It starts with publishing products Such as Salesforce, SAP and other software products. These products are then linked to multiple cloud providers such as AWS, IBM Cloud, and Google Cloud. Finally, they are linked by the NU VIDT API, which is a cost-effective way to use the data integrity platform.
VIDT Datalink has many use cases. For example, it can be used by luxury brands such as Rolex and Breitling to secure their timepieces. Companies can use the platform’s technology to secure these timepieces and ensure that it cannot be duplicated. When its ownership changes, VIDT’s smart contract features will be transferred to the new owner.
make comparisons best crypto trading bots,
VIDTs are heavily used in the new and growing industry known as non-fungible tokens (NFTs). One of the challenges the industry is facing is how difficult it is to differentiate between genuine and counterfeit products. Manufacturers can use VIDT to ensure that their creations are not counterfeit.
At the core of this platform is the VIDT token. Every time a publisher timestamps a file or an NFT, a VIDT transaction is performed which records all transactions across multiple blockchains.
VIDT Datalink Price Prediction
The daily chart shows that VIDT price has turned parabolic this week. As it rose, the coin managed to move above the crucial resistance level of $0.27, which was the lowest point in July 2021. Now, it has moved above the 25-day and 50-day moving averages, while the oscillators have continued to rise.
I believe these gains are not sustainable in the short term. As such, there is a high probability that the VIDT token will soon see a sharp comeback. If this happens, the next major support level to watch would be $0.2736, which is almost 46% lower than the current level.
