Vanadium was named after the Scandinavian goddess of beauty, youth, and luster. It is a controversy as to whether vanadium is an essential trace mineral in human nutrition. Although it has been suggested to function in hormone, cholesterol, and blood sugar metabolism, no specific deficiency signs have been reported.anadium was named after the Scandinavian goddess of beauty, youth, and luster. It is a controversy as to whether vanadium is an essential trace mineral in human nutrition. Although it has been suggested to function in hormone, cholesterol, and blood sugar metabolism, no specific deficiency signs have been reported.