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In this article, we are going to do VeChain coin price prediction for the next five years. The price of VeChain has been growing fast and the VeChain platform’s growth rate will soon surpass that of the Bitcoin blockchain.
VeChain is a semi-decentralized, blockchain-based platform. This platform uses anti-fraud technology to authenticate high-end items, giving confidence both to the customers and the manufacturing companies. So how does it function? VeChain is based on the idea that by providing each item with a unique identity, you can follow it throughout its existence using sensors. It is possible to see the item’s whole history, from where it was created to where it was most recently sold, by storing the tracking information. This means that the authenticity of high-end goods can be verified.
The VeChain ecosystem is made up of three parts: the blockchain, which holds encrypted tracking data, the main net, and the VeChain native coin (VET). The VET utility token is used to transport value across the blockchain, and the more VET a user has, the faster they can access the blockchain’s resources.
You can also create a second native coin using VET: VeChainThor Energy (VTHO). This token is referred to as the “gas” since it is used to power smart contract transactions on the platform and allows users to access supply chain technology. It is important to note that the VeChain coin is a freely tradable token available on major exchanges. Additionally, the VeChain platform designed the dual-token system in order to avoid fee fluctuations and network congestion.
What Is VeChain Coin (VET) ?
The VeChain coin (VET) is one of the two tokens used to manage and create value on the VeChain public blockchain-based platform. The other token is the VeThor (VTHO). Interestingly, the VET is the token used for transactions and other activities. On the other hand, the VeThor (VTHO) is used to provide fees payments.
The VeChain (VET) is a blockchain-powered supply chain platform that begun in 2015. However, its founders Sunny Lu and Jay Shang launched the platform a little later in June 2016. The grand vision of the VeChain (VET) platform is to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management.
In other words, the main idea behind the creation of this platform is to boost the efficiency, traceability, and transparency of supply chains. Additionally, the platform aims at reducing costs and placing more control in the hands of individual users. The founder argues that this platform can create trust-free structures which do not suffer from corruption as part of the supply chain.
Interestingly, the VeChain (VET) is a proof-of-stake token. In other words, the VeChain platform uses relatively low computing power to achieve network security and maintain user consensus. However, the VeChain platform also has a separate feature, the proof of authority. This can be described as authority master node operators on the blockchain maintaining the protocol according to the rules laid down by the VeChain foundation.
VeChain is currently one of the oldest dedicated blockchain supply chain platforms on the market.
VeChain Coin Value
The VeChain coin has a market cap of about $6,790,153,902 and a fully diluted market cap of about $10,257,973,860. It was trading at $0.1058 as of October 13th, 2021. Although the VeChain coin is yet to hit $1, the asset is currently the world’s 17th largest cryptocurrency. This is after having surged through the ranks during the market-wide Bull Run. Importantly, the VeChain coin has a circulating supply of 64,315,576,989 coins and a maximum supply of 86,712,634,466 coins.
VeChain was created with a vision of disrupting the traditional supply chain models. It is important to note that the traditional supply chain models have remained unchanged over the decades. The VeChain vision is being implemented using a transparent technology with no single point of weakness or overbearing control. This technology promotes greater security, efficiency, and ease of tracking products in a given supply chain while also reducing costs through trustless automation.
The VeChain model is very popular with businesses that are looking to reduce supply chain friction and be more transparent to their clients. The fees charged on the two in-house tokens the VET and VTHO generate the operating income for the company. Additionally, token holders can engage in staking in order to provide liquidity in return for rewards.
VeChain Coin Price History 2018-2021
Before we do the price prediction, let us first look at the VeChain coin history.
25th July 2018 – 31st December 2018
Open price: $0.02250 Close price: $0.00393
During this last quarter of the year, the VeChain coin price dived a little bit to trade at $0.011360 on 14th October, 2018.
However, on 25th November, the price of a VeChain coin dropped to trade at $0.003956.
On 19th September the price was at $0.004220. The VET price range remained relatively at this figure till the year came to a close.
Open price: $0.00393 Close price: $0.00524
In 2019, the VeChain coin was still relatively new in the market. It was therefore a good sign during the first quarter of the year when the VET price improved a little bit to trade at $0.005227 on 14th March, 2019.
On 22nd May, the price of the VeChain coin was still relatively at the same range and it was trading at $0.007162.
However, on 7th September the price of the VeChain coin dropped to trade at $0.003862.
Again on 1st November, the price of the VeChain coin was still low and it was trading at $0.003993.
The price of the VeChain coin made a slight improvement on 2nd December to trade at $0.007442.
Open price: $0.00524 Close price: $0.01875
The year started off well. The VeChain coin trading prices made a slight improvement to trade at $0.008159 as of 13th February, 2020.
However, on 13th March the price dropped sharply and registered a dismal figure of $0.001678. This was the lowest price that was registered the whole of that year.
It is important to note that like every other cryptocurrency, the VeChain coin exhibits sharp rises and sharp drops. For example, on 8th July the price shot up to trade at $0.021758.
The price improved again and on 9th August 2020 to trade at $0.022917.
It is an undisputed fact that 2020 was a particularly unique year due to the Covid-19 pandemic. However, the price continued improving till the coin closed the year at a comparatively good high price as indicated above.
1st January 2021–14th October 2021
Open price $0.01875 Close price $0.11916
The year started on a high note for the VeChain coin. On 10th January, the VeChain coin was trading at $0.030812.
The price kept on improving and on 20th February the VeChain was trading at $0.059848.
Later on, the price of VET outdid expectations to surpass the $0.2 hurdle on 17Th April to trade at $0.235120.
On 22nd June the price of the VeChain coin experienced another dramatic swing. This time the price dropped sharply to trade at $0.059846.
VeChain Coin History Price Summary
Based on the detailed past prices of the VeChain coin, we can learn about its price trajectory.
The chart below is the detailed price history of the VeChain coin from 2018-2021.
|Year||Maximum Price||Minimum Price|
|25th July- 31st December 2018||$0.02799||$0.00325|
|1st January-14th October 2021||$0.27983||$0.01840|
VeChain Price Prediction 2021-2025
Looking at the timeline of the VET coin price, it is young and full of potential. Now that only three years it has reached the high price above $2, which is 1858.46% higher than the open price on August 3rd, 2018. That said, the ROI is 1858.46%. Currently, the VeChain coin price has fallen a bit but it is still a good performance. Now let us go through the price prediction for the next five years.
15th October 2021-31st December 2021
Today’s VET price is around $0.1, which is considered a price correction after a massive pump in May. However, the cryptocurrency may continue an uptrend for the short-term as now the crypto market is growing, resulting in the price hike of most altcoins.
According to the daily chart from January 2021 until now, it is predicted that the price range of the rest day would trade between $0.05 – $0.2. However, it might break this range if the market keeps a good trend.
VeChain Price Prediction 2022
When the price correction finishes, an uptrend could occur. The bull can take VeChian up to $0.2 and register another new high by the end of 2022. It is worth holding the cryptocurrency. With the development of the VeChain network, the token can gain more interest from investors and institutions. Thus, $1 for VET price can be optimistic.
VeChain Price Prediction 2023
The price of VeChain can move even great heights to $2. But this shall decide by the sentiment in the crypto market. Moreover, strong partnerships should be a prior benchmark while evaluating VET’s price prediction analysis. Such partnerships include BMW, Bayer, PwC, GL, DHL, and DNGV.
VeChain Price Prediction 2024
The platform aims to boost the efficiency, traceability, and transparency of supply chains. With the improvement of the system, the price of VeChan is expected to reach $4 by 2024.
VeChain Price Prediction 2025
This blockchain will increase the volume of its users and attract more partnerships. And the team will keep pursuing its vision to the best of the ecosystem. There are many bullish forecasts on VeChain price which will show in the next section. The price is expected to break $7 and set a new high.
What Do Investment Agencies Say
The wallet investors predict that the VeChain coin can go up to $0.469 in one year.
According to Long Forecast, the outlook is relatively bright. This investment analysis platform believes that the price of VeChain will hit a new all-time high of $0.37 by the end of 2021. They further predict that the VeChain coin can go up to $0.4 in 2022.
According to the trading beasts predictions, the price of the VeChain coin will see slow but steady growth over the course of the year. The platform believes that VET’s yearly high will be $0.348 by the end of 2021. The Trading beasts predict that the VeChain coin can go up to $0.3899346 in one year.
Overall, the predictions from Digital Coin Price are remarkably similar to those from Long Forecast. They also predict that the VeChain coin can go up to $2.36 in 2022.
Where to buy VeChain coin?
The most obvious way to obtain VeChain coins is to purchase them through the VeChain exchange platform. However, if for any reason you cannot be able to access the VeChain exchange platform; there is a variety of options that you can choose from like Binance.
How to buy VeChain coin?
The first step is to open an online account on an exchange platform. The VeChain coin is available on the Binance exchange platform. Binance features a huge assortment of altcoins and accepts credit and debit card payments.
The second step is buying a wallet where you will store the coins. It is a rule of thumb that you should store any coins that you do not intend on trading in a cold wallet. A cold wallet is one that is not connected to the internet.
The final step is to buy the VeChain coins and send them to your preferred wallet.
Should I invest in VeChain coin?
VeChain is a smart investment in 2021. According to technical analysis, the risk/reward ratio is nearly nine to one , which is better than Bitcoin and Ethereum. The fundamentals are also solid, with good technology, a strong staff and several real-world use applications.
When will VeChain reach $75?
According to VeChain (VET) price predictions, the price will reach $75 in 2023.
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Conclusion: Is VeChain (VET) a Good Investment?
Yes. As all points in this article suggest, VeChain is a good investment opportunity. It has more room for growth and could be a top performer in the nearest future. If you are interested in investing in crypto coins with a relatively low price, you may also see the future price of Dogecoin. The world is changing. Countries and businesses are implementing blockchain-based solutions into their operations. VeChain has unique use cases, and several companies are integrating its solutions into their systems. Therefore, it’s a good investment. However, before investing, ensure to do your own research (DYOR).