VeChain token (VET) is one of the two native tokens on the VeChain blockchain — a project aiming to speed up blockchain adoption in the business world, primarily in supply chain management. VET is a token used for the actual transfer of value within the network, while the second token on VeChain — VTHO — works as gas fees. VeChain has been founded in 2015 by Sunny Lu and is being overseen by VeChain Foundation.
VeChain’s purpose is to disrupt the way that supply chains across the world are operated by using blockchain technology to track the goods. The features inherent to the blockchain, like being tamper-proof, make it especially beneficial in some areas. For example, the ability to track food improves consumer trust and helps cut costs (as demonstrated by the VeChain use in Walmart China). Other examples of use cases include luxury goods and cars.
VeChain employs Proof-of-Authority security protocol, meaning that the nodes producing the blocks are committee-approved and went through the strict KYC requirements. There are other types of nodes that support the network through VET token staking. As stated earlier, though, the transaction fees are paid in VTHO rather than VET, so that the volatility in one’s price doesn’t affect the other. Note that VTHO is earned by holding VET.
In the first half of 2021, VeChain had a real breakthrough — the VET token price went from ~$0.02 in January to an all-time high of $0.2782 in April. It climbed back down towards $0.05 by July, but as the crypto market geared up for another bull run, so did VeChain.
By early September, VET token price grew more than 2x, and the coin has been trading in the ~$0.12–$0.15 range. VET coin price predictions are also strong, with some signs saying it’s a good time to buy.
By the end of the first week of September, things were looking good for VET, which was poised to break out of the cup-and-handle pattern. However, the VeChain token failed to keep trending up, instead going below the previous support at ~$0.12. On the larger scale, VET is still trading inside of an ascending wedge, which means there is still a significant chance of recovery. But those movements leave the questions like “Will VeChain reach $1 soon” up in the air for now.
As it can be clear from the analysis cited above, VeChain Thor (VET) projections are rather contradictory. There is no universal consensus either about positive or negative future VET price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the VeChain Thor projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
VeChain price can be as high as $3 in 2025, according to some VET price predictions for 2025. Take them with the grain of salt, though, as VeChain long-term price predictions, like those for any other coin, are subject to change.
No, it’s doubtful that VeChain will reach $10 at the end of 2025. VeChain price predictions for 2025 don’t put the coin’s price this high at this point. However, if there is a big breakthrough of some sort, there is a small possibility, although it’s still negligible at the moment.
No, VeChain (VET) almost definitely won’t hit $10 in 2022. This would entail growth of a couple of orders of magnitude in a very short period, which is unlikely. The sources providing VeChain price predictions for 2022 agree this won’t happen.
There is a good chance that the VeChain price will pump during the upcoming bull run. Analysts making VeChain predictions feel comfortable giving the numbers like $0.25-$0.3 in their forecasts.
It’s probably quite good to invest in VeChain now, as its concept and business partnerships are strong. VET coin price predictions suggest that its price will grow steadily, while not necessarily skyrocketing.
The future of the VET coin seems bright, as the VeChain network has clear use cases and solid partnerships in place. VeChain fundamental analysis and VET coin predictions suggest that it’s a good investment to hold long-term.
It’s hard to say whether VeChain or Solana is a better investment since both have nice fundamentals. It’s probably best to hold both long-term to diversify your portfolio, as both Solana and VeChain price predictions for 2023, for example, or 2025, sound good.
VeChain can be worth close to $1 in 2021, according to some analysts’ VET crypto price predictions for 2021. As always, you’re welcome to do your own research to conclude what the VET token price will be.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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