This VeChain price prediction shows that the opinion of respected crypto experts and technical-based analysis combined predict that the long-term forecast of VeChain and its native token of VET has the potential to reach anywhere up to $5 per token between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy VET.
“There is one grace you cannot counterfeit: the grace of perseverance.”– Gardiner Spring
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News about VeChain
- VeChain price gears up for 22% breakout as key support continues to hold
- VeChain Soon To Explode To Newer Highs as It Records More Wins
Blockchain technology has changed the world. From humble beginnings, it’s gone on to become a global tool used by millions for an abundance of purposes. But one of the most interesting is the way it has been used to counteract the widespread counterfeiting of luxury goods. One of the crypto projects leading the way in this sphere is VeChain.
From maintaining user data reliability to protection against counterfeiting, VeChain has arguably changed the world of logistics by creating a decentralized option. As a result, its native token of VET has seen tremendous growth in recent years. Causing a surge of new investors looking to speculate on a potential price increase in the near future.
But are you wondering if it’s too late to start investing in VeChain? You’re not alone, many people are curious about whether investing in VeChain now is a good idea. I was one of those people until I began to use a range of factors to research the future price such as:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
- New investors
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in VeChain. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months, demonstrating that demand for this coin is very high.
But what does the future hold for investors who get on board now? Will it rise even further? Our VeChain price prediction aims to answer all. But first, let’s start with just what it actually is and how it works.
What is VeChain and VET?
The origins of the VeChain blockchain project go back to its foundation in 2015. The original aim of the decentralized project was as a supply chain management and anti-counterfeiting system centered around the blockchain that could enhance supply chains, ensure product safety, and verify authenticity.
The man behind VeChain is the former CIO of Louis Vuitton China, Sunny Lu. The main motivation for Lu to start the project was to combat the damaging impact that fake goods have on premium industries like expensive fashion. By assigning a unique and decentralized identity to luxury products at each stage of the supply chain, it is seen as a more effective solution than the centralized options that already exist.
VeChain quickly began to make a name for itself via its smart product tracking chips with the ability to be integrated into a multitude of devices. By writing all products into smart chips, the project managed to enhance and guarantee user data reliability.
But in December 2017, the product was rebranded as the VeChainThor blockchain for decentralized applications (dApps). Its renewed goal was to form a trustworthy distributed ecosystem for major companies in order to ensure a transparent flow of information and effective cooperation between different businesses and parties.
Like most crypto projects, VeChain has its own native currency called VET. These are used as a store of value on the network. The amount of VET you own determines your role and status on the network, in the same way that fiat money does in the conventional finance world.
But similar to other crypto projects like NEO, VeChain uses a dual token system. Alongside VET, there are also VeChainThor Tokens (VTHO). These are the fuel of the VeChain network and are used to send payments or execute actions on the blockchain.
In summary, the main aim of VeChain is to enhance the scalability and traceability of supply chains whilst simultaneously making them more efficient and handing over more control to individual traders.
Pros and cons VeChain
Like any decentralized project, VeChain has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of the VeChain and VET.
|✔️ Can be used to prevent counterfeits, theft, and other types of fraud.||❌ Their method of marketing can be odd and viewed negatively by some.|
|✔️ Has successfully secured major collaboration with the likes of BMW and Walmart.|
|✔️ It has a promising price prediction from many experts.|
Do you still have questions about VeChain? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about VeChain to give you a better understanding of the original digital asset and its price potential.
Who uses VeChain?
As well as investors looking to speculate on its value, VeChain and its VET tokens have real-world value. They are often utilized by major companies to ensure a transparent flow of information and solid cooperation. Over the years, the project has successfully collaborated with major brands from Microsoft and Walmart to BMW and H&M.
How does VeChain gain value?
Like most cryptocurrencies, the value of VeChain is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its innovative nature and continuous growth of significant partnerships, support for VeChain is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can VeChain reach $1 per token?
Based on its recent price surges and innovative nature of being a platform with a growing userbase of major companies like BMW and Walmart, it’s possible that VeChain could reach $1 per token in the long term.
Where do people buy, sell, and trade VET?
As well as on the VeChain network, experienced crypto users can buy, sell, and trade VET from a number of crypto exchanges. However, if you are a new investor, then we suggest using a brokerage like eToro. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
VeChain Price History
One of the best ways to gain insight into the VeChain price prediction is to analyze its price history. When the rebranded VeChainThor hit the market in early 2018, it coincided with a crypto bear market. Despite this, the development team utilized the time to carry on developing the project for the future. In 2020, this paid off.
When VeChain (VET) broke out of the bear market and saw increased volatility. From the beginning to the middle of August, the price fell to $0.006 but this was followed by a rebound that saw the price hit $0.0198 by early September. However, this rebound was short-lived and a long price recession followed after it. By the middle of December, the price of VeChain had dropped to $0.0033. By the end of the year, the price sat around $0.004.
In 2020 the cryptocurrency started to see improvement. By the 11th of June, VET hit $0.0082, before surging to $0.022 in July. However, this was unsustainable and the price soon dropped. But many people have viewed this as a chance to get on board in preparation for a potential new price surge in the near future. But let’s see what the experts have to say.
Expert analysis of the VeChain price potential
One of the best tools we can use to try and determine the potential future price of VeChain is to analyze the opinions of various crypto experts. Let’s delve into three estimated growth outlooks for various industry experts and analysts.
Overall, Coinpedia is bullish on the VeChain price prediction. Based on it continuing to build partnerships with influential organizations and persisting with being a unique model that retains a solid support base, they believe it has the potential to reach around $0.50 per token by the end of the year, $0.80 by 2023, and a price of $5 by the year 2025.
WalletInvestor uses an algorithm-based forecast in an attempt to predict the future price of cryptocurrencies. When it comes to their VeChain price prediction, they are also bullish but not as much as others. Over the long term, WalletInvestor predicts that the price of VET could reach somewhere around $0.239 by the end of 2021 and around $0.665 by the end of 2025.
Another rather bullish expert analysis on VeChain is LongForecast. They predict the price of VET in 2021 to potentially reach up to $0.20 by the end of the year. By the end of 2023, they expect it to reach $0.33, and $0.51 by the year 2025.
So from over $0.239 in the short term and up to $5 in the long term, the overall expert analysis on the future price of VET is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the VeChain price potential
Now we move on to technical analysis to try and predict the future price of VeChain. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
VeChain Price Prediction 2021 – 2022
Since the beginning of 2021, the price of VeChain skyrocketed by 628% from $0.0191 to its current price of $0.1391. It’s predicted that the VeChain price will rise an additional 44% in the second half of 2021 and it’s then expected to close the year at $0.20. A year-to-year change of +947%.
VeChain Price Prediction 2022 – 2023
After starting the year at $0.20, it’s predicted that the price of VeChain will rise to $0.21 per coin in the first half of 2022, it’s then expected to gain $0.02 and finish the year at $0.23, which is a +65% gain on the current price.
VeChain Price Prediction 2023 – 2024
After starting 2023 at $0.23, VeChain is expected to rise to a figure of $0.28 midway through the year before going on the rise again and ending the year at $0.33 at an overall annual increase of 137% from the current price.
VeChain Price Prediction 2024 – 2025
After starting 2024 at $0.33, VeChain is expected to rise to $0.38 halfway through the year. The second half of 2024 is expected to see the price of VeChain end the year at $0.43. That’s an overall annual increase of 209% on the current price.
In summary, VeChain is a crypto project with a reliable reputation. It provides significant real-world value by providing an effective measure against counterfeiting and changing logistics for the better by introducing blockchain technology.
As a result, it has seen tremendous growth in recent months. Particularly through securing partnerships with major brands like BMW and Walmart. This has led to a surge of new investors looking to get on board in anticipation of a potential new price surge
Whilst many people can see the significant potential in VeChain, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy VeChain?
When it comes to investing in cryptocurrency, major exchanges are better reserved for the more experienced trader. For beginners, it’s recommended to use a trusted brokerage like eToro. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on crypto. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. VeChain is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of VeChain and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.