Cryptocurrency Price Prediction

VeChain (VET) Price Prediction – Is The $1 Target In The Cards This 2022?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Apr 13, 2022

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The world is adopting blockchain technology at an accelerating pace. The adoption of the tech comes to solve real-world issues and problems. VeChain is one such blockchain, which aims to solve the persistent challenges in the world. With its expertise in supply chain management, the tech has garnered the interests of the masses.

VeChain’s native asset VET has been distant from the glitter and buzz of the market charts lately. With the asset available at a discount, investors are keen on VeChain’s price prediction. Are you also considering VET for your portfolio? Look no further, as our prediction, brings to you the plausible price projections for 2022 and the years to come! 

Overview

CryptocurrencyVeChain
TokenVET
Price$ 0.0342
Market cap$ 2,280,660,532.0000
Circulating Supply 66,760,741,299.0000
Trading Volume $ 222,262,821.0000
All time high$ 0.2810 Apr 19, 2021
All time low$ 0.0019 Mar 13, 2020

VeChain (VET) Price Prediction For 2022

Potential LowAverage PricePotential High
$0.1424$0.1913$0.2881

The VET price had commenced its trade for 2022 with a price tag of $0.0823. Amidst the volatile week, the price took a dip to $0.0777. After moving sideways until the 17th of January, VET faced another fall. Which dragged the price down to $0.0457 by the 22nd of January. The price of VET had been moving sideways thereafter with intermediate oscillations above the resistance at $0.0604

The price projection got dreary further, as it witnessed a quarterly bottom to $0.0383, by the 24th of February. VET was seen oscillating in the bandwidth between $0.0428 and $0.0604 until the 26th of March. When it broke out of the resistance to hit $0.066. Carrying forward the leg-up the quarter’s trade was closed at $0.0898

VeChain’s (VET) Price Prediction For Q2

 VeChain’s price would need to gather steam, to rise above the levels of $0.0608. Which could push the price to its target of $0.0862. Thereafter a spike in volumes could push the price to its quarterly high of $0.1095

On the downside, a lack of volumes and the presence of bearish trends could suppress the price to $0.068. That said, a balance in buying and selling pressures could land the price at $0.0812.

VET’s Forecast For Q3 

Carrying forward the bullish pace from the second quarter. The digital asset could encounter the crucial levels at $0.1454, which would be by the mid of August. With announcements of major partnerships, collaborations, and updates, the price could escalate to its potential high of $0.1764

While linear price movements without the impetus from external factors could settle the price at $0.1305. That said, a possible market fall and FUD could drag the price down to $0.0936

VET Prediction For Q4

With the start of the fourth quarter, VET price would seek impetus from the positive social sentiments. Which holds the potential to propel the price to its immediate resistance at $0.2103. A surge from which would help create a new ATH at $0.2881.

Conversely, emerging rivals and growing competition could clutch the price down to $0.1424. Considering the bullish and bearish targets, the average price could settle at $0.1913.

VeChain Price Prediction For 2023

The year 2023 could bring virtues to the price projections of VET if the network sees adoption by renowned companies. With the blockchain transforming logistics and supply chain the price could ascend to its maximum of $0.6279. On the other hand, the protocol failing to meet its expectations can lower the price to $0.3895

Price Prediction For The Next 5 Years

VeChain is in the progress mode to build a blockchain-based platform. That does not only limit itself to the digital world but can also integrate with the actual business ecosystems. 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 the next five years, VeChain might reach a maximum of $1.578. On the contrary, if the bears flip the uptrend, then the price could plunge to as low as $0.8901.

YearPotential LowPotential High
2023$0.3895$0.6279
Next 5 Years$0.8901$1.578

What Does The Market Say?

Wallet Investor:

  According to the predictions of Wallet Investor, the VET price could hit a maximum of $0.0804 by the end of 2022. The firm pins the minimum and average closing targets for 2022 at $0.0108 and $0.0600 respectively. That said, the maximum closing targets for 2023 and 2025 are set at $0.1060 and $0.2013 respectively.

Digital Coin Price:

The crypto prediction website has reupdated its price prediction for VET. The firm forecasts that the price is expected to close its trading at a maximum of $0.0848 by 2022. That said the average price targets for 2023 and 2025 are set at $0.0917 and $0.11 respectively.  

Trading Beasts:

 The platform has revised its forecast, it expects the VeChain price to reach $0.0965 by the end of 2022. That said, the website predicts that the VET price will hover at an average price of $0.0772. According to the forecasts, the altcoin could soar to a maximum of $0.1585 by 2025.

Long Forecast:

According to longforecast.com, a popular economy forecast agency. The VET price will hit a maximum of $0.034 by the end of 2022. That said, the minimum and average targets for 2022 are set at $0.027 and $0.029. The analysts, expect VET’s price to close in 2023 and 2025 at a maximum of $0.058 and $0.071.

Click here to read our price prediction for Monero (XMR)!

What is VeChain (VET)?

VeChain (VET) is a blockchain-powered platform built to renovate supply chain management. Its aim is to facilitate the best resources to traders, who wish to solve real-world economic problems.

The network owns two native tokens VET and VTHO. The goal is to boost the scalability, efficiency, and traceability of supply chains while directing more control to individual traders. 

However, the platform is unique as it aims to overthrow supply chain friction and give an appealing impression to traders.

Fundamental Analysis

Founded in 2015 and launched in 2016, Vechain is a blockchain-based system built to enhance supply chain management and business processes. The project was initially conceived as a supply chain management and anti-counterfeiting system based on blockchain and IoT technologies.

 In December 2017, the product was rebranded and relaunched as the VeChainThor blockchain for decentralized applications (dApps). VeChain has now established itself as a blockchain service provider for businesses in any industry.

VeChain Foundation, a non-profit organization registered in Singapore in 2017, manages the project. The project is known for its collaboration with major companies. Such as Microsoft, Shanghai Gas, Walmart China, BMW Group, H&M, and others. 

Further, VeChain plans to become a leading platform for initial coin offerings(ICO). And also a platform for conducting transactions between the Internet of things(IoT) and its connected devices.

Our Vechain Predictions

VeChain (VEN) was officially re-branded to VeChain THOR (VET) in 2021. And the makers had announced their alliance with an 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.

According to Coinpedia’s formulated price forecast for VET, the price could brush a maximum of $0.28 by the end of 2022. Conversely, things falling apart could land the price at $0.15. That said, with growing adoptions and partnerships, the price could hit a maximum of $1.6 by the next five years.

Historic Market Sentiments

2018

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.

2019

In 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.

2020

From the beginning of the year, VeChain continued to grow and retested the resistance at $0.0082 in February. Unfortunately, at that point, the entire market had rapidly declined. On the 13th of March, VET had set a new low at the $0.0016 mark. After which the ascend was at a gradual pace. On the 11th of June, the VET price broke its resistance at $0.0082. And by July, buyers pushed the price to $0.022.

After a steady pullback, VET managed to trade at $0.017 by early August. Further, the price managed to be at $0.0021 by mid-August. And further plunged to $0.0016 by the end of August. As bears held the market, VeChain’s price continued to decline for several months until the end of November.

Later, the price surged to $0.018, amidst the expansion of Bitcoin’s price rally and further started declining. VET continued to trade at $0.015 by early December and managed to reach $0.019 by the end of 2020.

2021

VeChain commenced the year with its price trading at $0.020. The asset soared to a new ATH of $0.2782 in the month of April.  The altcoin hovered around the same zone for a month. Due to the Chinese market crash on May 19th, the price experienced a heavy pull back to $0.07238.

In the month of July VeChain partnered with ReSea to prevent a thousand kilos of plastic from polluting oceans. Which took the price to $0.1539 on September 5th, 2021. Yet again market turmoil coming out of the Chinese market impacted the price rally to dump by 23.3%. Followed by the platform’s plan to upgrade its Proof-of-Authority (PoA) 2.0. The asset regained its bullish momentum reaching $0.1192.

After a steady decline towards the end of the third quarter, starting from mid-October, VET prices rose at a notable rate. The price took an ascend to $0.1877 by the 9th of November. The uptrend was short-lived, as the prices slipped thereafter. Which led to the annual closure at $0.0863. 

To read our detailed price forecasts of Filecoin (FIL) click here!

FAQ’s

Q: What is a VET coin?

A: VET or better known as VeChain Thor is a native token of the VeChain network. Which is used for exchanges across the network, with an aim to empower scalability, efficiency, and traceability.

Q: What is the minimum or maximum count of VeChain that one can buy? 

A: There is no minimum or maximum limit for investments in VeChain. These are affordable tokens, and platforms like PrimeXBT only require a low deposit of 0.001 BTC to get started. 

Q: What can be the maximum price projection of VET by the end of 2022?

A: VET could possibly hit a maximum of $0.2881, by the end of 2022.

Q: How high could the VET price propel by the end of the next five years? 

A: The price of the altcoin could hit a maximum of $1.578, by the end of the next five years.

Q: Where can I trade VeChain’s VET?

A: VET is available for trade across prominent cryptocurrency exchange platforms such as Binance, KuCoin, Huobi Global, and Gate.io, amongst others.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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