The world is adopting the 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 VET price prediction 2023 – 2025 and the years to come!
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VeChain (VET) Price Prediction
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.
VET Price Prediction December 2022
With the start of the final month of the year, VET price would seek impetus from the positive social sentiments. Which holds the potential to propel and surge the price that could help create a potential high of $0.0211.
Conversely, emerging rivals and growing competition could clutch the price down to $0.0091. Considering the bullish and bearish targets, the average price could settle at $0.0151.
VeChain Price Prediction 2023
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.
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 $0.0312.
On the other hand, the protocol failing to meet its expectations can lower the price to $0.0197. That said, an equilibrium in buying and selling pressures could land the price at $0.0254.
Price Forecast Of VeChain 2024
If the crew behind VeChain employ developmental and community-building initiatives amidst Bitcoin’s halving event. A run like that of Bitcoin’s expansion rally can be anticipated. In such a case, the price could propel to a maximum of $0.0507 by the end of 2024.
Conversely, possible factors like regulatory concerns could slump the price to $0.0325. That said, a balance in buying and selling pressures could slip the price to $0.0416.
VET Price Prediction 2025
If it is able to provide complete integration of the blockchain-based platform with the actual business world. It would be easier for companies to use the blockchain. By the next three years, VeChain might reach a maximum of $0.0718.
On the contrary, if the bears flips the uptrend, then the price could plunge to as low as $0.0476. Successively, the lack of propelling initiatives could settle VET at $0.0597.
What Does The Market Say?
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.
VeChain is a blockchain-based food traceability platform that provides the food and beverage industry with a variety of traceability functions that are readily deployable, including product provenance, quality certificates, etc. The company was founded in 2015 by Sunny Lu, who is also serving as CEO of the company currently. The company has its offices in Singapore, China, Japan, France, Italy, Luxembourg, and etc.
The products offered by the company are food safety track and trace, sustainability track and trace, general supply chain track and trace, low code deployment, and blockchain as a service. The solutions offered by the firm are sustainability and carbon management solutions, transparent supply chain solutions, blockchain storage solutions, and many more. The firm currently has 3K+ enterprise users and 300+ enterprise partners. Some of them are Arket, LVMH, BYD,DeadStock,Walmart China, PWC, Shokay, REEBONZ, and many more. As the company has grown to the depth level where it has achieved the title, suchas One of the compilation units of Shanghai, the world’s first 5 star rated blockchain services, the influential blockchain innovation application of the year in 2019, and many more things are still coming.
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.
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.
If you are a crypto enthusiast and a long term investor for Ethereum, view our article on Ethereum price prediction.
CoinPedia’s VeChain Price Prediction
According to CoinPedia’s formulated VET price prediction, the price could brush a maximum of $0.0211 by the end of 2022. Conversely, things falling apart could land the price at $0.0091.
That said, with growing adoptions and partnerships, the price prediction could hit a maximum of $0.20 by the next five years.
VeChain Historical Market Sentiments
- VeChain (VET) was listed on cryptocurrency exchanges in late July 2018 and traded in the range of $0.02-$0.026.
- 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.
- By December, the price had dropped to as low as $0.0033 and later closed the year at $0.004.
- In Q1 of 2019, the price of VET was stuck in the $0.0036-$0.005 range, until it broke out to $0.0079 in March.
- 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.
- The asset closed the year with $0.0056 price per coin.
- From the beginning of the year, VeChain continued to grow and retested the resistance at $0.0082 in February.
- On the 13th of March, VET had set a new low at $0.0016 mark.
- By 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. But further plunged to $0.0016 by the end of August.
- Following a steady decline until November, the expansion of Bitcoin’s rally pushed the price to $0.018.
- 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.
- 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 pollution in the oceans. Which took the price to $0.1539 on September 5th, 2021.
- While the Chinese market crisis called for a 23.3% dump, however, the PoA 2.0 upgrade plan pushed the price by $0.1192.
- An ascend led to the annual closure at $0.0863.
- 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.
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.
VET could possibly hit a maximum of $0.04450, by the end of 2022.
The price of VET could settle at an average price of $0.0531 by the end of 2023.
The price of the altcoin could hit a maximum of $0.2082, by the end of the next three years.
VET is available for trade across prominent cryptocurrency exchange platforms such as Binance, KuCoin, Huobi Global, and Gate.io, amongst others.