VeChain is a blockchain-based, semi-decentralized network. This platform uses anti-fraud technologies to certify high-end commodities, offering customers and manufacturers alike peace of mind. So, how does it work? VeChain gets built on the premise that by giving each thing a unique identification, you can track it using sensors throughout its life.
By preserving the tracking information, you may observe the item’s whole history, from when it was manufactured to when it got most recently sold. That means that high-end goods’ authenticity can get checked.
In this post, we will forecast the price of VeChain coins for the next five years. VeChain’s price has been rapidly increasing, and the platform’s growth rate will soon surpass that of the Bitcoin blockchain.
What Is VeChain Coin (VET)?
On the VeChain public blockchain-based network, the VeChain coin (VET) is one of two tokens used to manage and produce value. VeThor is the other token (VTHO). The VET is the token utilized for transactions and other activities, which is interesting. The VeThor (VTHO) gets used for payments, on the other hand.
VeChain (VET) got launched in 2015 as a blockchain-based supply chain platform. The platform’s founders, Sunny Lu and Jay Shang, powered the system a bit later, in June 2016. The VeChain (VET) platform’s grand objective is to develop an ecosystem that addresses some of the most critical supply chain management concerns by combining distributed governance with the Internet of Things (IoT) technology.
To put it another way, the fundamental goal of this platform is to improve supply chain efficiency, traceability, and transparency. Additionally, the platform seeks to reduce costs and provide users with more control. According to the founder, this platform may get used to developing trust-free structures free of corruption in the supply chain.
VeChain Coin Value
The VeChain currency has a market capitalization of around $6,790,153,902 and a fully diluted market capitalization of approximately $10,257,973,860. On October 13th, 2021, it was trading for $0.1058. Although the VeChain token has yet to reach $1, it is the 17th largest cryptocurrency. That follows a meteoric rise through the ranks during the market’s recent bull run. The VeChain coin has a total quantity of 86,712,634,466 coins, with a circulating supply of 64,315,576,989 coins.
VeChain got founded to upend established supply chain methods. It’s worth noting that traditional supply chain models haven’t altered much throughout the years. The VeChain vision gets realized through a transparent technology with no single point of failure or oppressive control. This technology improves the security, efficiency, and ease of tracking products in a supply chain while lowering costs through automated trust.
Businesses to decrease supply chain friction and be more transparent to their customers to the VeChain model. The company’s operating income gets generated through fees imposed on the two in-house tokens, VET and VTHO. Token holders can also participate in staking to provide liquidity in exchange for rewards.
VeChain Coin Price History 2018-2021
Before we get into price predictions, let’s take a look at the VeChain coin’s history.
July 25th – December 31st, 2018
The start price is $0.02250. $0.00393 is the closing price.
The VeChain coin price declined slightly in the fourth quarter of 2018, trading at $0.011360 on October 14th, 2018. On November 25th, however, the price of a VeChain coin dropped to $0.003956. The price was $0.004220 on September 19th. Through the end of the year, the VET pricing range remained unchanged.
$0.00393 is the open price. $0.00524 is the final price.
The VeChain coin was still a newcomer to the market in 2019. It was thus a positive indicator when the VET price improved slightly in the first quarter of the year, trading at $0.005227 on March 14, 2019. The VeChain coin’s price at $0.007162 on May 22nd, indicating remaining in the same range.
On the 7th of September, however, the VeChain coin’s price plunged to $0.003862. The VeChain token was $0.003993 on November 1st, still a low price. On the 2nd of December, the VeChain coin’s price increased slightly to $0.007442.
$0.00524 as an open price $0.01875 (close)
The new year got off to a great start. As of the 13th of February, 2020, the VeChain coin selling prices improved slightly to $0.008159. On the 13th of March, though, the price plummeted to $0.001678, a pitiful sum. That was the year’s lowest price.
It’s worth noting that, like any other cryptocurrency, the VeChain coin has ups and downs. For example, on July 8th, the price soared to $0.021758. The price increased once more on August 9, 2020, to $0.022917.
Due to the Covid-19 epidemic, 2020 will go down in history as a very remarkable year. The price continued to rise until the coin ended the year at a high price, as seen above.
1st January 2021–14th October 2021
The open price was $0.01875, and the close price was $0.11916.
The VeChain coin began the year on a positive note. The VeChain coin was trading at $0.030812 on January 10th. The price of VeChain continued to rise, and on February 20th, it was trading at $0.059848. Later, the rate of VET outperformed predictions, breaking beyond the $0.2 barrier on April 17th to trade at $0.235120. The rate of the VeChain token took another spectacular turn on June 22nd. This time, the price fell dramatically to $0.059846.
VeChain Price Prediction 2021-2025
The VET coin price is young and full of potential, as evidenced by its chronology. It has hit a high rate of $2 after only three years, 1858.46 percent more than the open price on August 3rd, 2018. However, the return on investment (ROI) is 1858.46%. The VeChain coin price has dropped recently, yet it is still performing well. Let’s look at the pricing forecast for the next five years.
15th October 2021-31st December 2021
The price range of the rest day gets anticipated to trade between $0.05 and $0.2 based on the daily chart from January 2021 to now. If the market remains on an upward trend, It may break out of this range.
VeChain Price Prediction 2022
When the price correction is complete, an upswing may emerge. By the end of 2022, the bull could take VeChian up to $0.2 and set a new high. It’s worthwhile to keep the cryptocurrency. The coin may attract increasing interest from investors and institutions as the VeChain network develops. As a result, a price of $1 for VET could be considered ambitious.
VeChain Price Prediction 2023
VeChain’s price has the potential to rise to $2. However, the sentiment in the crypto market will determine this. Furthermore, while analyzing VET’s price prediction study, solid relationships should be a prior standard.
VeChain Price Prediction 2024
The platform promises to improve supply chain efficiency, traceability, and transparency. The price of VeChain gets predicted to reach $4 by 2024 as the system improves.
VeChain Price Prediction 2025
It gets projected that the price would burst through $7 and hit a new high.
What Do Investment Agencies Say
The VeChain coin gets expected to rise to $0.469 in a year, according to wallet investors.
By the end of 2021, this investment analysis platform predicts that the price of VeChain will reach a new all-time high of $0.37. They also anticipate that by 2022, the VeChain currency will be worth $0.4.
According to the website, VET’s yearly high gets predicted to be $0.348 in 2021. According to Trading Beasts, the VeChain token will be worth $0.3899346 in a year.
They anticipate that by 2022, the VeChain token will be worth $2.36.
VeChain is an excellent place to put your money. It has space for improvement and could become a top performer shortly. The world around us is changing. Blockchain-based solutions get integrated into the operations of countries and corporations.