After the boom of cryptocurrency in 2017, the market was loaded with many Altcoins. But there are few projects that succeed and stood out above all — VeChain is one of them.
what can we expect from Vechain in the future? Will the Vechain price surge or plunge in 2021?
In this article, we will explain what VeChain is, VET price predictions for 2021, and beyond.
Table of contents
|Market cap||$ 2,847,042,884.0000|
|Circulating supply||$ 64,850,448,123.0000|
|Trading Volume||$ 707,144,296.0000|
|All time high:||$ 0.0600 February 13, 2021|
|All time low:||$ 0.0019 March 13, 2020|
What is VeChain?
VeChain is a blockchain protocol formulated to improve supply chain administration and business methods. Its objective is to facilitate these processes and data flow for complex supply chains through the design of distributed ledger technology (DLT).
The Vechain platform has two tokens: VeChain Token (VET) and VeChainThor Energy (VTHO). VET is used to transport value across VeChain’s network. And the VTHO is used as fuel or gas to leverage transactions.
VeChain was established in 2015 by Sunny Lu, the former CIO of Louis Vuitton China. He incorporated his creativity in luxury goods with blockchain technology to build an IoT (Internet of Things) application for the supply chain management. He remains the CEO of VeChain through a non-profit called the VeChain Foundation.
VeChain (VET) Price Technical Analysis
VeChain (VET) was listed on cryptocurrency exchanges in late July 2018 and traded in the range of $0.02-$0.026. However, VeChain soon broke out of that range and experienced increased volatility.
From the beginning to the middle of August, the price fell to $0.006 per VET. A rebound immediately followed the decline, hitting $0.0198 by September. Unfortunately, the rebound was temporary and was followed by a prolonged recession. By December, the price had dropped as low as $0.0033. VeChain closed the year at $0.004.
In the Q1 2019, the price of VET was stuck in the $0.0036-$0.005 range. In March, the cryptocurrency was able to break out of the range and grow to $0.0079. After pulling back to $0.0056 in April, the asset continued to grow, peaking at $0.0098 in June.
VET could not hold these heights and slid down before it established support at $0.0028 in late October. As the asset found new ground, it recovered quickly and met resistance at $0.008 in November. Its first attempt to rise above this mark didn’t end well and led to a pullback to $0.0046.
The second attempt led to the same result. After running up against resistance at $0.008, VET fell to its previous support of $0.0046. The asset closed the year with a $0.0056 price per coin.
VET Price Prediction 2021
At the start of 2021, the VET price was trading at $0.020. Analysts believe that the VeChain price might reach $0.040 by the end of January. Further, the price might remain stable at $0.02 with certain fluctuations until mid-April.
As indicated by VeChain’s highly diverse partnerships, the blockchain platform sets out to bring the advantages of decentralized applications and smart contracts to a large number of different industries.
By 2021, VeChain might reach $0.052, which may move VET upwards in the ranking order.
VeChain Price Prediction 2022
VeChain might initiate the year with the price of $0.054 and may continue to be in the same range with slight fluctuations until July. The price may surge to $0.06 and might continue the same trend for several months. At the end of 2022, VET might reach $0.070.
VeChain Price In 5 years
VeChain is in progress mode to build a blockchain-based platform that does not only limit itself to the digital world but also can integrate with the actual business ecosystems as well. This would ensure that enterprises would be able to control various functions with the assistance of this blockchain.
If it is able to provide complete integration of the blockchain-based platform with the actual business world, it would be easier for the companies to use the blockchain. By 2025, VeChain might reach $0.1.
VET Price Market Prediction
There are many crypto enthusiasts out there who spoke their mind out about what they think about VET’s price forecast. Let us check out some of those:
1) Wallet Investor
Wallet Investor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, VeChain is expected to go down to $0.00463. This price prediction is very bearish pessimistic and it might not fall that much.
2) 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.
3) Mega Crypto Price
Mega Crypto price predicts that VeChain might reach $0.258 by the end of 2021 and $0.612 by the end of 2023
Smartereum is a site that regularly publishes cryptocurrency predictions. They believe that the price of VeChain could go up as high as $75 by the end of 2023
Cryptoground predicts that VET might reach $4.10 by 2021.
Our VeChain (VET) Price Prediction
VeChain (VEN) has been officially re-branded to VeChain THOR (VET) this year itself and even announced that it will be teaming up with the international car company BMW. VeChain Thor enables businesses to track their products throughout their entire supply chain cycle with the help of the blockchain. This aids in the assurance of the quality and authenticity of the products.
By the end of 2021, it is expected that VET might reach $0.044, which can be regarded as an optimistic prediction, considering its current value.
VeChain can go as high as $0.05 in 2021 according to expert price forecasts and technical analysis signals.
VEN tokens at that point changed into VeChain Thor (VET), which exchange value across the VeChain network.
Estimate growth is all over the map for VET tokens, but long term projected value reaches as high as $0.07 per VET coin.