- VeChain (VET) A Quick Overview
- Mission VeChain Behind The Screen-Saga
- VeChain’s Strategic Partnerships
- VeChain’s Working Module
- Internet Of Things (IoT)
- VeChain’s Price Prediction: Bullish Or Bearish?
- VeChain Price Prediction: From Industry Experts
- Can VeChain Price Touch The $1 Mark Ever?
- What Is The Right Time For Investment?
- Conclusion
As per current market state VeChain (VET) seems bearish. According to our VeChain Price Prediction, what is the future of this cryptocurrency?
VeChain is one of the most dominating cryptocurrencies in the market. According to our VeChain Price Prediction, this year may be volatile for this coin, but it can show a bullish phase soon. Let’s take a look at what our VeChain Price Prediction says.
VeChain (VET) A Quick Overview
The VET or VeChain cryptocurrency is the native coin of the VeChainThor blockchain. The blockchain, which aims to help companies create dApps (Decentralized Applications) compatible with the Internet of Things, has recently gathered plenty of press attention. Many technological advancements in the market have utilized their radical fold changes, especially in terms of blockchain solutions. The remarkable VeChain platform currently offers the bulky cycles that made the authoritative development tardy. This exceptional blockchain-based organization is instrumental in transforming the functions of an organization into more resourceful and procedures more well-defined. Let us look at the current details of VeChain and understand the VeChain price prediction for the future.
| Cryptocurrency | VeChain |
| Symbol | VET |
| Price | $0.03317 |
| Price Change 24h | -1.46% |
| Price Change 7d | -4.99% |
| Market cap | $1,577,599,301 |
| Circulating Supply | 72,511,146,418 VET |
| Trading Volume | $70,755,026 |
| All time high | $133,152,335 |
| All time low | $0.001678 |
| Vechain ROI | +44.75% |
Mission VeChain Behind The Screen-Saga
The brain behind this unique blockchain network, Sunny Lu, made his dream come true in 2015, aiming to make the supply chain and product management lifecycle impeccable. VeChain takes pride in being the complete solution catered to supply chain enhancement requirements for the foundation.
Seeds of VeChain can be traced back to the Ethereum code. Today, the fundamental properties of VeChain are initially used in payment networking, voting, smart contracts, and much more.
VeChain’s Strategic Partnerships
VET’s involvement among companies is not limited to logistics but happens to be a diverse gamut of industry mix for signing partnerships. VeChain has cracked many signing up strategic alliances and sealing crucial deals with companies of repute.
- Since April 2020, Luxury fashion brand H&M, the second-largest clothing retailer with over 5000 stores globally, has relied on VeChain for collecting supply chain data from its product lines.
- VeChain has collaborated with BMW for implementation and POC on blockchain storage to store vehicle data and controlled provision to third parties securely. Groupe Renault, a French MNC automobile manufacturer, has partnered with VeChain since July 2017 for its data privacy and protection tools.
- Haier, a leading Consumer home appliance from China, has tied up with VeChain since April 2019 to use blockchain and IoT technology.
Walmart China, DB Schenker, Bayer China, NTT, LMV, and UFC are some of the many companies where VeChain has cracked deals for its enterprise blockchain data solutions.
VeChain’s Working Module
Internet Of Things (IoT)
VeChain has played the leading role in carrying IoT and DLT technologies. It implies the network of billions of smart devices currently in use globally for new IoT devices. These gadgets may cover a wide range, from doorbells to Tv to the cell phone you are glued to every time. Blockchain technology and IoT integration go hand in hand and perfect synchronization. The revolutionary Blockchain technology provides authentic, efficient, and affordable real-time data monitoring tools.
VeChain’s Price Prediction: Bullish Or Bearish?
We have already seen VeChain’s (VET) price surge in April and May with the usage of Vechain’s blockchain. VeChain is currently trading near $0.02. Our Vechain price prediction shows that the bulls are trying to push prices higher after a period of consolidation. VET has recently broken its support level of $0.021, facing a bearish phase for now. Our prediction expects that it may go down further to $0.016.
June and July 2021 were pretty poor months for the cryptocurrency market, and VeChain was no exception. The VET price dropped below the $0.10 mark on a consistent basis, and it closed down by 23% to $0.0961 in June. According to our analysis, the RSI indicator is currently in the overbought territory and is close to the 70 levels. Bulls have been struggling to push prices higher, and we can see a bullish movement if it crosses the next resistance levels to watch are $0.026 and $0.028.
According to the chart, Vechain signals suggest that it has a decent chance of gaining momentum and increasing in value over time, but we can see the $0.1 mark by the end of 2029.
VeChain Price Prediction: From Industry Experts
According to Wallet Investor’s prediction, VET prices will reach $0.0400 by the end of 2022. Prices are expected to hit $0.0550 by the end of 2023 and $0.0700 by the end of 2024.
Trading Beast’s forecast suggests that the coin will be valued at an average of $0.0455 in 2023, $0.0457 in 2024, and $0.0617 in 2025. VET’s price will start picking up pace by 2026.
Can VeChain Price Touch The $1 Mark Ever?
According to its price history and recent market crash, the $1 mark seems far, and VET will take time to reach the milestone.
We can see an incredible rise in its price in the next ten years as the blockchain network is partnering with many big giants for its growth and expansion.
What Is The Right Time For Investment?
Currently, VET is facing a bearish moment, and as per our forecast, it may go down more, so you should wait for $0.18 for a good investment and astronomical return in the long term.
Conclusion
This crypto coin has had a rough start to 2022. It reached its all-time low recently, but the future looks promising as it’s making a slight comeback. Our VeChain price predictions suggest that the coin has a bright future and is expected to show immense growth in the next few years due to many collaborations. However, it is essential to note that the cryptocurrency market is highly volatile. Any adverse development could lead to a sharp price decline, and your investment may be at risk.
