The VeChain token (VET) is one of the two native tokens of the VeChain blockchain – a project that aims to accelerate blockchain adoption in the business world, mainly in supply chain management. VET is one token used for the actual transfer of value within the network, while the second token on VeChain – VTHO – acts as gas charges. VeChain was founded in 2015 by Sunny Lu and is supported by the VeChain Foundation.
VeChain’s purpose is to disrupt the way supply chains operate around the world by using blockchain technology to track goods. The inherent properties of the blockchain, such as security against tampering, make it particularly advantageous in some areas. For example, the ability to track groceries improves consumer confidence and helps reduce costs (as demonstrated by the use of VeChain in Walmart China). Other examples of use cases are luxury goods and automobiles.
VeChain uses a Proof-of-Authority security protocol, which means that the nodes producing the blocks have been approved by the committee and have passed the strict KYC requirements. There are other types of nodes that support the network through VET token staking. As mentioned earlier, however, the transaction fees are paid in VTHO and not in VET, so the volatility of one price does not affect the other. Note that VTHO is acquired by owning VET.
In the first half of 2021, VeChain had a real breakthrough – the VET token price rose from ~ $ 0.02 in January to an all-time high of $ 0.2782 in April. It was climbing back towards $ 0.05 by July, but as the crypto market prepared for another bull run, VeChain did too.
By early September, the price of VET tokens more than doubled and the coin was trading in the $ 0.12-0.15 range. VET coin price predictions are also strong, with some signs suggesting that it is a good time to buy.
By the end of the first week of September things were looking good for VET, which was on the verge of breaking out of the cup-and-handle pattern. However, the VeChain token was unable to continue trending higher and instead went below the previous support of ~ $ 0.12. On a larger scale, VET is still trading within an ascending wedge, which means that there is still a significant chance of recovery. But these moves leave questions like “Will VeChain reach $ 1 soon” for now.
As can be seen from the analysis cited above, VeChain Thor (VET) forecasts are rather contradicting. There is no universal consensus on positive or negative future price movements in VET. In fact, the future possible growth depends on various factors: announcements, new technological solutions of the VeChain Thor projects, the crypto environment in general, legal situation and so on. We kindly remind you that it is essential to do your own research (DYOR) before investing in a cryptocurrency.
VeChain price can go as high as $ 3 in 2025, according to some VET price predictions for 2025. However, take them with caution as VeChain’s long-term price predictions, like any other coin, may change.
No, it is doubtful that VeChain will reach $ 10 by the end of 2025. The VeChain price predictions for 2025 do not put the price of the coin that high at this point in time. However, if there is a big breakthrough, there is a small possibility, although it is still negligible for now.
No, VeChain (VET) almost certainly won’t hit $ 10 in 2022. This would mean growth of several orders of magnitude in a very short time, which is unlikely. The sources that provide VeChain price predictions for 2022 agree that this will not happen.
There’s a good chance the VeChain price will go up during the upcoming bull run. Analysts who make VeChain forecasts are comfortable putting numbers like $ 0.25 to $ 0.3 in their forecasts.
Investing in VeChain now is probably pretty good as the concept and business partnerships are strong. The price predictions for VET coins suggest that the price will steadily rise, but not necessarily soar.
The future of the VET coin looks bright as the VeChain network has clear use cases and solid partnerships. VeChain’s fundamental analysis and VET coin predictions suggest that it is a good investment to hold for the long term.
It’s hard to say whether VeChain or Solana is a better investment as both have good fundamentals. It’s probably best to hold both long-term to diversify your portfolio, as both Solana and VeChain price predictions sound good for 2023 or 2025, for example.
VeChain can be worth almost $ 1 in 2021, according to some analysts predicting VET crypto prices for 2021. As always, feel free to do your own research to determine the price of VET tokens.
Disclaimer: This article should not be viewed as a trading recommendation. The cryptocurrency market suffers from high volatility and the occasional random movement. Every investor should research multiple viewpoints and familiarize themselves with all local regulations before committing to an investment.
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