After the carnage that left LUNA and UST hanging on for survival, VeChain made their enticing offer to Terra LUNA developers: a $30K grant to migrate their Layer1 chains to VeChain. Additionally, the post also describes VeChain as a rapidly growing enterprise-grade public blockchain with 100% uptime.
VeChain Foundation’s grant covers a wide range of topics that include ‘application development, tools & infrastructure, and blockchain-related research.’For each stand-alone project, there is an allowance of up to $30K with a possible 50% bonus for Economic X Node. We will see in the coming days the effect of this social media ploy, and whether it will increase investors’ interest in VeChain.
The incoming upgrade has already increased bullishness around VeChain and led to gains as soon as it was announced; investors are also keen to learn where the network might go from here. One criticism of the “vulture-like offer to Terra” could indeed boomerang: Some users are beginning to doubt whether the VeChain platform has a development structure as it went to extra lengths to encourage Terra developers to join the company.
Today’s VeChain price is $0.029542 with a 24-hour trading volume of $132,309,295 USD. VeChain is down 0.08% in the last 24 hours. The current CoinMarketCap ranking is #32, with a live market cap of $1,900,013,695. It has a circulating supply of 64,315,576,989 VET coins and a max. supply of 86,712,634,466 VET coins.
• How To Buy Vechain?
• How To Stake Vechain?
What is VeChain?
Vechain is a blockchain-based company for creating efficiencies across supply-chain management and logistic processes. The blockchain implements distributed ledger technology (DLT) to deploy bright, complex supply-chain solutions.
Sunny Lui founded VeChain and the VeChain Coin as a robust solution for deploying a decentralized infrastructure of data management applications and the Internet of Things. The founder wanted to solve a highly fraudulent supply-chain industry and resolve economic issues.
Vechain’s applications keep growing, and the project’s scope has broadened. Vechain blockchain features two tokens that are distinct at large and serve different purposes. The Vechain Token (VET) and the VeChainThor Energy (VTHO).
- VTHO is the energy or gas for driving smart contract transactions
- VET is the native token (or digital currency) for transferring value across the network
Vechain was founded in July 2017 and incorporated in Singapore. The VeChain Foundation manages the project. Before its inception and back in 2015, Vechain was only a project idea for tracking luxury goods to prevent counterfeits.
VeChain, an Asian project, is extending its IoT and supply chain-oriented platform through the development of the VeChain Thor blockchain. The platform’s main objective is to become an enterprise-driven blockchain ecosystem whose primary focus is the governance and usability of smart contract services.
Today, the project conducts business around managing enterprise information across diverse companies.
This information is crucial for product verification, supply-chain transparency, and transfer of value and trust across its network.
The following are critical features of the Vechain blockchain that highly influence the Vechain price forecast:
- Vechain is an enterprise-based blockchain that intermediates data through the Internet of Things (IoT) and provides transparent information about organizations, products, and services.
- Vechain has a vision of leading the next generation of Initial Exchange Offerings (IEOs) and Initial Coin Offerings (ICOs) by taking advantage of smart devices on the Internet of Things.
- Vechain blockchain has two tokens, its gas VTHO, and its native token VET.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
||VET||$ 0.029515||$ 1.97 B||0.14%||66.76 B||$ 145.55 M|
VeChain Structural Developments
An upgrade called Surface will see the network build up security measures and adaptive tools. It will do this with the implementation of a consensus reached PoA2.0.
An alternative to algorithms like Proof-of-Work (PoW) or Proof-of-Stake (PoS), PoA2.0 will finalize transactions securely, thanks to a three-pronged validation approach combining computer-generated randomness, committee-based blockchain production, and a passive block confirmation process.
These seemingly complicated components allow for a more secure and final blockchain that no one can manipulate.
VET, the native coin of VeChain, is up 10% today as investors become bullish on the upgrade prospects; the coin now rests at a value of over 12 cents. But where might the crypto be heading in the future, given the upgrade passes and sees implementation? Let’s take a look at some VeChain price predictions and see what analysts are thinking.
Understanding VeChain and VET Coin
Vechain intends to use blockchain technology to create a trust-free and decentralized business ecosystem that favors the transparent flow of data, high-speed value transfer, and efficient collaboration across business processes.
Technology firms have normalized compartmentalizing businesses on the supply chain data into silos. These silos cater to multiple stakeholders. As a result, this affects the flow of information divided among participants. Some use applications of the VeChain platform are the following:
- VeChain’s whitepaper suggests blockchain technology should allow ownership of data to empower both ends of a transaction. And therefore, break the asymmetric information problem.
- The blockchain effectively deploys information about products, business processes, storage, organizations, and transportation. This eventually creates greater market transparency and makes it convenient for market participants to transact.
- The VeChain blockchain is used across diverse industries to track quality, storage data, temperature, authenticity, last-mile delivery, and transport medium logistics. It achieves this through implementing Radio Frequency Identification (RFID) sensors and tags. Authorized Supply chain participants can access these pieces of information anywhere and in real-time.
- VeChain allows product manufacturers and merchants can constantly track and monitor all parameters with sensors and tagging.
- The sensors ensure that product manufacturers and merchants can constantly track and monitor all parameters from manufacturing and packaging to delivery.
- If a problem is encountered along the way, the blockchain communicates back to an authorized person.
Both VeChain (VET) and VTHO are run on the VeChain Thor Blockchain platform. Both means of value transfer are decentralized and can be used by decentralized applications already hosted on the VeChain blockchain.
VeChain seems to have borrowed its dual token idea from Ethereum‘s Ethereum (ETH) and NEO gas. However, unlike Ethereum’s lack of predictability when estimating transaction fees, VeChain builds upon a predictable economic model for simplifying decentralized finance.
What can you do with VeChain?
- Enterprises – The blockchain has already built a support infrastructure to help the growth of enterprises by bootstrapping underlying technology, utilities, and services.
- Community – The blockchain supports community developers and blockchain programmers to kickstart their projects on the ecosystem and bring about diversity across the platform.
- Institutional Partners/regulators – to support its mission of helping startups, incubation partners, and venture capitalists bring in their input in terms of expertise, resources, and capital.
The transaction token on the blockchain is the VET utility token. This design is highly in favor of businesses dealing with large volumes of settlements.
However, the following are different ways your business can adopt Vechain in its ecosystem.
Food and Beverage Businesses
- Owners of food and beverage enterprises can use Vechain’s ecosystem to transact transparently.
- The blockchain allows them to scan QR codes on their preferred products and the system automatically provides consumers with desired information about the product.
- Such information includes geographical location, inspection reports, dates, ingredients, source of ingredients, and cryptographic data.
- As a result, a brand will improve transparency on its supply chain to reduce costs for third-party verification and collaborate with other participants such as insurance firms and financing institutions.
- Vechain’s blockchain has put various systems to help startups bootstrap growth from scratch.
- Startup founders will find tools for technical documentation and acquire direct support from Veechain’s support team.
Digital Vehicle Management
- Uber sparked a fleet of vehicle management companies. Vechain provides users with an effective digital vehicle passport solution that stores and secures crucial data along the lifetime of an automobile.
- Financial institutions, vehicle manufacturers, insurance providers, vehicle repair enterprises, and technical experts can use the Vechain blockchain for the authorized sharing of data.
- This will make information about ownership, servicing history, and usage more transparent across the automobile industry.
Luxury Product Manufacturers
- VeChain creates unique identity links between their brands and their physical products.
- Luxury product brands are competing for market attention by coming up with high-value product designs.
- Brands can now use VeChain to establish a unique identity link between their brands and their physical products. The links are customized using smart NFC tags.
- Finally, competing brands can implement the blockchain’s product verification to boost the traceability of stolen goods across the chain of supply.
VeChain Fundamental Analysis
Fundamental analysis is an excellent way to understand how the market affects prices crypto values always change. We need to look at whether a coin is overvalued or undervalued. VeChain is a promising blockchain company but why should VeChain be a part of your portfolio?
Before investing in any cryptocurrency, here are factors to consider:
- The utility of the coin – Read through the coin’s whitepaper and identify what problems it solves. Find out whether the coin has any real-world applications as well as if it can be used for transactions, smart contracts, and payments. Conduct a comparison analysis between the coin and other similar cryptocurrencies.
- Study the Team – Go through the coin’s about page and research its founders. Find out whether they are experienced, legitimate and honest. Also, check the coin’s market capitalization to establish the liquidity of the cryptocurrency.
- Demand and Supply – The utility of a coin is directly proportional to its demand. Remain aware as well that higher supply than demand might ruin the value of a coin. The supply should be fixed and the coin should have a real-world solution to an aching problem.
- Valuation – Do not go for a coin because it costs a fraction of the dollar. Analyze the valuation of the coin, the numbers of users on its blockchain and if the user volume is higher than the price, – that’s an overpriced coin.
VeChain (VET) is a good investment because of its ascending trajectory in a market that has remained volatile, which, in turn, hinges on the coin’s solid partnerships and its prominence of the coin in the value chain.
How Does Vechain Make Money?
VeChain holders can stake or HODL their VET to earn some passive cash. Staking refers to storing cryptocurrency funds in a locked wallet.
The funds maintain the operations of the blockchain ecosystem and execution of proof of stake. They share some similarities with cryptocurrency mining since they both achieve network consensus. In turn, the blockchain rewards users for staking.
You can also HODL VeChain to generate some profits. To HODL is to store a coin until it gains more value. However, a HODLING strategy should be long-term and inclined towards increasing the asset’s value in the future.
VeChain’s economic model is an essential discussion about how Vechain makes money. It turns out VTHO indicates the underlying costs of VeChain usage. The blockchain consumes VTHO after the ecosystem performs certain operations.
On the other hand, the Vechain (VET) functions create value transfer and build up rapid circulation and liquidity of the token across the blockchain. Furthermore, the blockchain also awards network nodes with some VET foto facilitate the network’s growth.
This easy-to-use VeThor (VTHO) stacking calculator is based on live Economic- and X-node data. Just enter your VET holding, select your node tier and click “calculate.”
Economic- and X-node holders receive a bonus VeThor (VTHO) reward from two dedicated reward pools held by the VeChain Foundation. These bonus rewards depend on all participating Economic- and X-nodes, their node tiers, and all eligible participants’ overall VeChain (VET) holding.
VeChain Stats show how the VeChain Ecosystem is stabilized.
Note that the nodes are never part of VeChain’s economic model but only a means of boosting and stabilizing the VeChain ecosystem. Finally, VeChain’s whitepaper suggests the blockchain automatically generates VTHO through holding VET tokens.
Therefore when a user holds onto some VET, the blockchain will award them VTHO.
The VTHO can be used as a medium of value transfer, traded, or implemented when running decentralized applications hosted on the Thor blockchain. Also, VET can be traded against other currencies on any cryptocurrency exchange.
On what is the future for VeChain (VET) based?
VeChain’s token valuation is directly proportional to the cost of using the blockchain. However, usage of the blockchain depends on whether a user is carrying smart contract transactions or payment transactions. Again, VeChain (VET) value goes up as usage of the blockchain rises. Furthermore, and as earlier mentioned, the platform supports those who hold VET by enabling them to conduct VET transactions at no cost. This is because having VET guarantees the user some free VTHO. VeChain has a future and is probably a good investment for the following reasons:
- It looks beyond the supply chain market
As mentioned earlier, the VeChain project focuses on bringing traceability and transparency to the supply chain industry. However, the project is tapping into other areas, such as competing with Ethereum for a decentralized application platform.
- Benefits from strong foundation support
The VeChain foundation supports the VeChain project and handles all development activities, growth and research. The foundation also networks and builds partnership capacity on behalf of the blockchain.
We mentioned earlier the kinds of partnerships that VeChain has already signed.
The blockchain is already helping reputable enterprises track goods, employ traceability and create efficient supply chains. BMW, Bayer, PwC, GL, DHL, and DNGV.
It, therefore, proves the blockchain project is here for the long term and is meant to build more icebreaking solutions.
The blockchain is backed up and managed by a reputable team of developers and sales professionals. This enables them to deliver high-end products for use in the real world.
- Academic backing from Oxford University
VeChain is in a partnership with Oxford University’s Department of Technology Research. The partnership is meant to boost the development of the blockchain’s architecture.
Oxford University is researching new ways of building proof mechanisms and smart contracts for VeChain.
With such a collaboration with a reputable university and backing from reputable firms, more businesses will implement VeChain’s smart solutions.
- VeChain is a Fresh Project in Progress
Most people and businesses are usually inclined towards bootstrapping along with a fast-growing technology. VeChain is a project in progress that could attract more firms and partnerships. This is mainly because it’s easy to tweak and implement a project in progress, which helps it become even better, robust, and dependable.
VeChain Price History
We have already seen VeChain’s (VET) value increase with the usage of Vechain’s blockchain in April and May.
This means high adoption of the blockchain by businesses is tied with increased blockchain usage, which directly correlates with the value of the VeChain token. To analyze the forecast of VET’s direction, let’s look at partnerships the ecosystem has already forged.
VeChain partnered with BMW to deploy a card verification system. However, the car verification platform only continues the Vechain-BMW partnership called the Startup Garage.
In 2018, VeChain entered into a partnership with supply chain management company DHL to build smart blockchain solutions for the logistics industry.
Another partnership was between VeChain and PriceWaterhouseCoopers (PWC) to deploy VET as a token for processing various transactions and tracking costs through the supply chain.
Such partnerships and other notable ones like DNV and GL translate to a rapidly growing blockchain ecosystem. VeChain and its VET token will deploy decentralized financial services, applications, and smart contracts across various industries.
VET price prediction Source: TradingView
The live VeChain price for 20th January 2022 is USD 0.07182, with a 24-hour trading volume of USD 201,927,775. VeChain has been up 3.22% in the last 24 hours. The current CoinMarketCap ranking is #34, with a live market cap of $4,630,331,310 USD.
It has a circulating supply of 64,315,576,989 VET coins and a max. supply of 86,712,634,466 VET coins. Source: CoinMarketCap
It is also worth noting how the cryptocurrency has remained consistent with its upward trajectory at the start of 2021. In comparison to other tokens, VET was performing well, and proponents should be hopeful.
Right now, things have changed, and every altcoin is pursuing Bitcoin, as both rise from the bearish engulfing that remained throughout May, June, and July.
VeChain Technical Analysis
According to the current price of VeChain, the future price analysis appears to be bullish. Looking at the trading chart below, the 50-day moving average is still above the 200-day Moving average. What does this mean for the future price of a VET token? It implies that the token’s price still assumes a general upward trend after the golden cross that happened in December 2021.
The general upward trend appears to be a healthy one, with prices expected to fluctuate with generally positive growth in the long run. As it stands, VET is still bullish and long-term investors could earn significant gains from the growth of the token. The above analysis is only viable as long as the death cross doesn’t take place. However, from the current analysis, the probability of witnessing a death cross on the 1-day price chart of VET is significantly low.
The1 day timeframe shows that the VET/USD pair is in a strong uptrend. Prices have been on a constant rise since the start of the month and have made higher highs and higher lows. The price has found support at the $0.02978 level and has bounced off this level twice. This level is now acting as strong support for the pair. The MACD indicator is currently in the bullish zone, and the signal line is above the histogram, which indicates that the bulls are in control of the market. The RSI indicator is currently at 65.89 and is showing no signs of bearish divergence.
The VET/USD pair traded at $0.03096 and showed no signs of slowing down. The next level of resistance is at $0.03245, and if prices can break through this, we could see an extension of the bullish rally to the $ 0.03400 level. The 200-day moving average is currently at $0.02887 and is sloping upwards, which indicates that the long-term trend is bullish. The market volatility for VET has been on the rise over the past few days, and we could see some consolidation around the current levels in the next few hours.
VeChain Price Predictions 2022 – 2030
Presently, the price of the VET token has been plummeting, however, the price prediction analysis indicates a general upward trend for the eight-ten year period. Although the current crypto market is overwhelmingly bearish, indicators show that there are significant probabilities for the Vechain to gain momentum and record gains over the years.
Throughout the years from 2022 to 2030, a positive gain in the price levels of VET is expected and the price projections indicate that the token could possibly trade above the $0.1 mark by 2029. Below are some price analyses from other websites.
Currently, the WalletInvestor website predicts a prolonged bear market for the VeChain token. The platform indicates that VeChain is essentially a bad investment for the short term and investors. According to their predictions that are based on analysis of the past prices and technical analysis, the price of Vecahin could be $0.00355 in 2023. Indicating that the token is not a good choice for investors interested to hold a VET coin for just a year.
Traddingbeast is primarily bullish on the price of VET in the long term. Their predictions show that the cryptocurrency is poised to record price gains from 2022 through 2030 and beyond. According to TradingBeasts, VeChain could trade at $0.05 and above by 2024. It is projected that the VeChain token can hit $0.068 by end of 2025, which indicated a growth of nearly 122% from its current price.
Digitalcoinprice is also bullish on VeChain over the long term. The crypto market is undoubtedly wavy at the moment, however, careful analysis of the token’s price chart from its launch to date shows massive potential for growth. DIgitalcoinprice predicts that the Vechain coil hit $0.1 by 2028 which is quite impressive. The price predictions for VeChain by Digitalcoinprice indicate that VET could attain a market value of $0.16 by 2031.
Cryptopolitan’s price prediction on Vechin is also bullish. According to the detailed technical analysis of the price chart as well as historical data collected over time, Cryptopolitan is confident that the price of Vechain will increase over time.
As of this writing, Vechain is slowly beginning to gain momentum and the token is poised to begin recording gains soon. As of May 2022, the charts indicate that the VET token is bullish for long-term crypto holders. Below are some price predictions of Vechain by year according to Cryptopolitan.
VeChain Price Prediction 2022
Vechain price prediction in 2022 is already in play and according to the price projections conducted, VeChain is expected to trade with a minimum price of 0.039 in June 2022. Similarly, the highest expected price for the token in June is $0.057. By the end of the year, the VET price is projected to reduce slightly, trading at an expected market price of $0.052.
VeChain Price Prediction 2023
The VeChain price predictions in 2023 show that the token will begin to gain momentum and begin to show steady positive growth. VET price is estimated to be $0.041 on average by January 2023. The expected average price of VET by mid-2023 is $0.044. According to the price projections, the price of VET could average $0.052 by December 2023; the expected maximum price of Vechain by end of 2023 is $0.0651
VeChain Price Prediction 2024
Vechain price prediction according to the price projections conducted by Cryptopolitan shows that VeChain is expected to trade with a minimum price of 0.051 in June 2024. Similarly, the highest expected price for the token in June is $0.076. By the end of 2024, the VET price is projected to reduce slightly, trading at an expected market price of $0.084
VeChain Price Prediction 2025
The VeChain price predictions in 2025 show that the token will continue to gain momentum and show consistent positive growth. VET price is estimated to be $0.069 on average by January 2025. The expected average price of VET by mid-2025 is $0.073. According to the price projections, the price of VET could average $0.068 by December 2025 and the expected maximum price of Vechain by end of 2025 is $0.0862.
VeChain Price Prediction 2026
According to the smart technical analysis conducted on the price chart of the VeChain token, the price prognosis indicates that the VET cryptocurrency could trade at an average price of $0.051 which indicates a decline from the prices projected for 2026. It appears that VeChain could experience a short bear market in 2026 before its prices pick up again in 2027. According to the analysis, the token could close the year with an expected maximum price of $0.055.
VeChain Price Prediction 2027
The prices of VeChain by 2027 show that the coin will continue to increase in value from the values projected in 2016. According to the price projections, VET price will record an average of $0.0515 in 2027. Similarly, the price of VET could hit a maximum value of $0.07 by end of 2027.
VeChain Price Prediction 2028
VeChain price prediction 2028 shows that the cryptocurrency market will continue to boom. The projection indicates that VeChain price shows that the token could trade
VeChain Price Prediction 2029
The VeChain price predictions in 2029 show that the token will continue to gain momentum and show consistent positive growth. The expected average price of VET by mid-2029 is $0.09. According to the price projections, the price of VET could average $0.094 by December 2025 and the expected maximum price of VeChain by end of 2025 is $0.13.
VeChain Price Prediction 2030
The prices of VeChain by 2030 show that the coin will continue to increase in value from the values projected in 2016. According to the price projections, VET price will record an average of $0.14 in 2030. Similarly, the price of VET could hit a maximum value of $0.0.16 by end of 2030.
VeChain Price Predictions by Industry Influencers
VeChain has already developed a working and practical blockchain solution for the supply chain management. The practical solutions have already attracted partners from various industries to join the bandwagon. Such sectors include manufacturing, luxury goods, and automobiles, among others. Health facilities can use Vechain to track medicines and the anti-counterfeiting mechanism effectively wipes out the black market trade of medicines.
Vechain also has a strong team behind it. The rest of the team also has a solid background and track record in information technology. There is no telling where Vechain is headed, but we can look at the stars for now. The currency has a good standing for investing, holding, and solving real-world applications.