VeChain Thor (VET), the native token to the VeChain blockchain, is a unique cryptocurrency asset designed to underpin an enterprise-focused system for supply chain management, traceability, and business process solution streamlining.
VeChain the platform itself utilizes two distinct tokens: VeChain Thor, which transfers value across the network, and VeChain Thor Energy (VTHO) that acts as gas for transaction fees, similar to NEO’s Gas token, or Etheruem’s gas.
The crypto token started off its existence as just VeChain as an ERC-20 token under the VEN ticker but changed the supply allocation, the name, and ticker after moving to its own mainnet.
The particular altcoin is promising due to the potential void it fills and how wide spreading of industries it potentially covers. For example, the luxury goods market is worth billions, but counterfeits eat into profit margins. VeChain, for example, could prove authenticity and trace the product’s origin through its delivery to a consumer’s door.
VeChain also has some of the most well-known partners on board and listed on its website out of any other crypto project. It includes massive names like BMW, and big-four auditing firm PriceWaterhouseCoopers (PWC).
It is for these reasons, and many more, that VeChain price predictions are so varied. Some claim VET has enormous potential projected growth value, but the price chart doesn’t always reflect experts’ and analysts’ expectations.
This guide will teach you all the most essential facts about VeChain, answer the most essential to know questions about the cryptocurrency like “should I buy VeChain,” and provide a realistic outlook on Vechain projected growth.
Read on to find out!
What Is VeChain?
VeChain, as mentioned, is a supply chain blockchain and an altcoin cryptocurrency token trading under the VET trading ticker exchange symbol against dollars, Bitcoin, or other crypto assets and fiat currency. Its market price is based on supply and demand dynamics, and overall Vechain Thor price per token multiplied by the total token supply will give you the market cap of VeChain.
The current price today is $0.01 USD, but price tomorrow could very well be anything, considering how volatile the cryptocurrency market is. At the current price times the total VeChain supply of 86,712,634,466 VET tokens, the total VeChain market cap is valued at $805,557,320 million.
VeChain is used as a business enterprise solution that connects various aspects of a business’s processes together so that all information is transparent, shared, and in sync.
For example, VeChain can follow a product’s journey from the manufacturing process, quality control, to distribution, delivery, and ownership. Along the way, it can ensure a product meets certain standards, such as a specific temperature, size, or quality measurement. This keeps processes smooth, streamlined, and to a standard set by the business.
Not only will every different phase of the production and business processes be tracked, but all related information, including who was involved, where the location was, how it got there, and so much more, is also included.
This lets different areas of a business gain important potential insight into typically off-limits information segregated into other department’s systems. VeChain aims to “empower” businesses by giving them full ownership and control over their data and logistics.
Cryptocurrencies exist only in the digital world but need to solve real-world solutions. VeChain is a cryptocurrency that bridges the gap between the two by utilizing RFID chips that track each stage of the supply chain.
Other applications include in-automobile data through such partners as BMW to access driving insights that could go back to other service providers such as insurance companies and be used to access better rates based on driving performance and accident records.
BMW is just one of many high profile partners that VeChain has listed on its website, and works with even more. Members of luxury brand Loius Vuitton are also involved with the VeChain team.
VeChain Price History: Looking Back At 2018, 2019, And Beyond
Because VeChain started out trading as VEN, there is very little historical price action for the new token, VET. VET started out its price history in late 2018 during the peak of the bear market. Because of this, its price action has been mostly bearish. And that isn’t a good sign for VET.
Initial mainnet hype and exciting VeChain news took VeChain price to $0.015 per VET token. VET coin price later fell to as low as $0.0002 on Black Thursday in March 2020. Later it bounced hard back to $0.02 per token, which is the current VeChain all time high currently.
VeChain price today is at $0.0128 per VET coin, but the price tomorrow could change abruptly. VeChain is at a crossroads, and soon we’ll find out if the wild VeChain price projections will be reached in the future. Either a triple bottom formation holds and VeChain rallies from here, or another enormous fall could be next for the crypto asset.
VeChain Price Predictions And Expert Forecasts
Although the recent VeChain trend has been down, experts have a wide range of VET coin price predictions, and VeChain coin forecasts that both say the crypto asset could be going down or that VeChain will rise. The mixed expectations make VeChain value questionable in the short term and make VeChain long term price predictions from experts more challenging to come across.
Here’s what experts are saying about VeChain potential being profitable, along with various VET coin price forecasts.
Digital Coin Price
Digital Coin Price is one of the more bullish experts expecting a VeChain growth to eventually lead to a high price of $0.07471315 USD. The firm also expects a slow growth trajectory of roughly $0.01 per year moving forward.
WalletInvestors also sees VeChain potential price increase and forecast a VET coin price prediction of $0.05073 in 2025.
CoinSwitch estimates that VeChain value could reach as high as $0.1, making it the highest estimate and forecast from any other expert in the field.
VeChain Sentiment Analysis
Sentiment and social metrics are falling and low in general compared to other cryptocurrencies, likely due to the bear market and the altcoin’s triple bottom. This bearish of sentiment can be difficult to read. It can frequently suggest things will soon be turning around, but there’s no guarantee that VeChain will catch on and ever be adopted widely by companies for their supply chains.
VeChain Technical Analysis
Technical analysis can help to predict future price movements in an asset. But because VeChain VEN changed to VeChain Thor (VET) when the token moved to its own mainnet and off of Ethereum, the price history restarted, and charts only go back to late 2018. Therefore, it is difficult to get a good read on price forecasts based on technical analysis, and any long term predictions are more speculation than realistic targets.
VeChain Price Prediction 2020
Technical analysis backs up the recently bearish sentiment over the last two years by showing a perfect triple bottom formation, complete with a sweep of the lows with the third bottom taking place on Black Thursday 2020.
The triple bottom formation has a 162% target, which would take the asset to a VeChain price target of $0.028. However, if the pattern fails to confirm and hold support, VeChain is at risk of dropping to as low as $0.0021 per VET coin.
When you see others on social media asking “why is VeChain going up” or “why is VeChain going dropping,” you’ll know it was because of these short-term prediction chart patterns.
VeChain Price Prediction 2021 – 2022
Switching timeframes to daily from weekly, and zooming out, the cryptocurrency appears to be forming a massive falling wedge continuation pattern extended from the breakout of the ascending triangle that formed at the last phase of the triple bottom. If that pattern continues to the upside, it should match the flagpole, letting the asset rally as high as $0.064 in 2021 or 2022.
VeChain Price Prediction 2023 – 2025
The bad thing about the potential falling wedge breakout is that it would also form a more dominant rising wedge on high timeframes, causing a deep correction and possible head and shoulders top for VeChain, sending the asset tumbling back down to lows in 2023 to 2025 when the cycle restarts all over again.
Conclusion: What is the Future of VeChain?
VeChain’s future is blurry compared to the crystal clear potential of top crypto assets like Bitcoin, Ethereum, EOS, Ripple, and Litecoin.
It has astronomical disruptive potential as an enterprise solution for business processes and supply chains, but investing in it can be risky due to the fact that no business may ever adopt the technology. It would involve retrofitting all systems with RFID tags supplied by VeChain, a significant investment into VeChain tech and development, and utilizing the blockchain platform for all aspects of a business. This is a major risk for large companies with many moving parts. And although VeChain is designed to connect and sync these systems, the cost of labor, time, and effort could be too extensive to consider the long term savings thanks to increased efficiency.
If the altcoin fails as a crypto project, then its price could crash to nearly zero. If it is successful, however, the sky could be the limit. This makes VeChain more of an all or nothing play and not the type of safe investment in a proven crypto asset that most would recommend.
|Year||Potential High||Potential Low|
|2021 – 2022||$0.0741||$0.0236|
|2023 – 2025||$0.1000||$0.0171|
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FAQ: Frequently Asked Questions About VeChain
Should I Invest in VeChain?
It is difficult to say with confidence is this is a yes or a no. While there could be some upside potential in VeChain, there are also many risks of downside and potentially zero.
Is VeChain a Good Investment?
There are much better investments in the cryptocurrency space, including Bitcoin, Ethereum, EOS, Ripple, and Litecoin – the five tokens offered on the award-winning PrimeXBT trading platform.
How High Will VeChain Go?
VeChain can go as high as $0.07 according to expert price forecasts and technical analysis signals.
What Is a Realistic VeChain Price Prediction?
While $0.07 is as high as the asset could go, it is not a very realistic valuation for the cryptocurrency. It has spent most of its price history bearish, and that may not change. Instead, more realistic forecasts should be a lot lower.
What Happened To VeChain?
VeChain turned into VeChain Thor when it split from Ethereum and launched its own mainnet.
What is VET coin?
VEN tokens at that point changed into VeChain Thor (VET), which exchange value across the VeChain network.
When Will VeChain Reach New Projected Highs?
Predicting prices is challenging enough, so there is no real way to predict when VeChain could reach new highs. However, if bullish momentum can keep up, new highs are possible in 2021 and 2022.
How Much Is The Maximum and Minimum To Invest in VeChain?
There is no real minimum and maximum to invest. VeChain tokens are cheap, and platforms like PrimeXBT only require a low deposit of 0.001 BTC to get started.
What is the VET Future Estimated Growth and Projected Value?
Estimate growth is all over the map for VET tokens, but long term projected value reaches as high as $0.07 per VET coin.
VeChain and all cryptocurrencies are risky investments, and any expert analysis does not guarantee future results or success. Never invest more than you can afford to lose.
The charts, advice, comments, and more should not be taken as investment advice and any predictions are based on speculation and cannot be taken as certain.
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