VeChain Price Prediction 2021-2025 | Market Predictions and Price Chart

VeChain Overview

Cryptocurrency
VeChain
Ticker Symbol
VET
Price
$ 0
Price Change
24h +0%
Price Change
7d +0%
Market cap
$0
Circulating Supply
0 VET
Trading Volume
$0

What is VeChain (VET)?

VeChain is a blockchain establishment that aims to strike a balance between centralization and decentralization. VeChain has a goal to efficiently and transparently decentralize supply-chains of businesses. Over time, trained professionals have been handling supply-chain management and then giving reports to companies. However, some of these professionals become corrupt and fraudulent, especially when dealing with luxury goods. As a result, counterfeit items have cost the luxury industry billions of dollars. Hence, the founders of VeChain deem it fit to adopt the Distributed Ledger Technology (DLT) for tracking the supply of goods. Each product is given a unique identity using Radio Frequency Identification (RFID). Smart chips on each item will record whatever happens throughout the supply chain. Afterward, the RFID will publish this information to the blockchain platform, and authorized individuals can access it.

Sunny Lu and Jay Zhang co-founded VeChain back in 2015 before the service became official in 2016. Sunny Lu was the Chief Information Officer (CIO) of Louis Vuitton China before he started VeChain. Louis Vuitton is a fashion brand that majorly produces expensive clothing. No wonder Lu was inspired to launch a blockchain network that aims to solve the problems of supply-chain. The company began as a subsidiary of Bitse, a prominent blockchain company in China. In 2017, VeChain held a crowd sale for its cryptocurrency (known as VEN by then) as a token on the Ethereum blockchain. Back then, Vechain used to operate as VEN, and its cryptocurrency was the VEN token. VeChain sold one billion VEN tokens during the distribution, and this amounted to $20 million. The VeChain Foundation operates the VeChain ecosystem and VeChainThor blockchain. The Foundation ensures transparency within the ecosystem.

VeChain rebranded from VEN in 2018 and started its VeChainThor (VET) blockchain. Consequently, VET tokens replaced VEN, and the team had to import all tokens to the VeChainThor blockchain at a 1:100 ratio. Currently, the VeChainThor blockchain hosts two native cryptocurrencies – VET and VTHO. VET is the cryptocurrency that powers the network and is for sending, staking, and holding. Meanwhile, VTHO serves as means by which businesses pay to build decentralized applications on the Vechain network.

VET has a fixed supply, and its price is subject to demand. However, to ensure that developers and businesses pay stable network fees, VTHO supply is occasionally adjusted to sustain a stable price. Also, in case of a wrong transaction fee estimate, the blockchain provides a Proof of Work option. Thus, developers can mine more VTHO to pay their fees.

Several blockchains have come up with new governance protocols different from Proof-of-Work and Proof-of-stake. Vechain is not left behind. The VeChainThor blockchain adopts a unique consensus mechanism known as Proof of Authority (PoA). Per proof-of-authority, participants hold governance and voting rights based on how many VET tokens they hold. There are 101 Authority Masternodes that verify transactions on the blockchain. Authority Masternodes include enterprise users, academic research partners, community contributors, and other stakeholders. These stakeholders must hold a minimum of 25 million VET tokens. Moreover, the VeChain Foundation has to verify participants who wish to become Masternodes.

VET holders can also obtain voting rights. Although, they need to hold at least 1 million VET tokens. Participants who have verified their know-your-customer (KYC) credentials have 30% voting power. However, unverified individuals with up to 1 million VET coins only receive 20% voting rights. VeChain wants to bring transparency into supply-chain management; thus, it has to ensure transparency in its system. Thus, there are no anonymous nodes in the VeChainThor network.

Per VeChain’s goal, the proof-of-authority mechanism is an excellent choice. It does not require computational power, neither does it need a lot of confirmations. However, there are shortcomings to the protocol VeChain runs. For example, proof of authority does not retain absolute decentralization. There is a need for verification of participants on the network. Also, power is centralized to individuals who hold a large chunk of VET tokens.

VeChain Price Chart

After the initial coin offering of 2017, Binance listed Vechain in July 2017. The VeChain price during the Binance listing was around $0.025. It didn’t maintain this price as it fell below $0.01 in August 2018. Since then, VET price has been crawling, and not until January 2021 did it hit $0.025 (Price as at Binance listing) again. As of this writing, the VET price was at its peak, with an all-time high of $0.072 on March 12, 2020. Thus, VeChain’s current price could be its all-time high as the coin seems to be experiencing an uptrend. A year ago, on March 13, 2020, the VeChain coin price dumped to $0.00168, which is its all-time low. VeChain’s current price during this write-up is $0.07.

Market Prediction for VeChain (VET) 2021

On the daily time frame, VeChain’s current price chart has formed price support around $0.0376, $0.024, and $0.01. Meanwhile, the $0.0376 and $0.024 support are very recent price levels that VeChain price formed in 2021. VeChain coin price continues to sustain the $0.01 support level since 2020. The movement of the general cryptocurrency market is significant to determine where VeChain coin price is heading. Also, BTC dominance is essential as it claims more than 60% of the total market. Thus, a slight movement in BTC price can reverse the market trend at any time.

VeChain is a popular crypto asset. It ranks 20 on the list of almost 8,800 cryptocurrencies. Also, VeChain is a coin on over 200,000 watchlists on CoinMarketCap. VeChain has a maximum and total supply of 86,712,634,446. The circulating supply of VET is 64,315,576,989 (74% of its max amount). While VET has a specific maximum, its circulating supply will increase as VeChain news sees more adoption. VET has a market capitalization of over $4 billion. Meanwhile, going by VeChain current price and its maximum supply, VET has a diluted market cap of $5,978,653,300. However, the fully diluted market cap is subject to a price change, while the market cap is subject to movement in price and an increase in circulating amount.

Currently, VeChain has a daily trading volume of over $1.1 billion. Thus, VET is not a micro-cap coin, and it has a strong base in the cryptocurrency market. Remember, the VeChainThor blockchain has two native tokens. These in-house tokens are VET and VTHO (VeChainThor Energy). VET has a fixed supply. However, we cannot determine the maximum amount of VTHO due to the purpose it serves on the network. By staking VET, investors can generate some income in VTHO. However, to avoid an infinity supply, 70% of VTHO paid in transaction fees is frequently burnt.

VeChain Predictions 2021

Digital-Coin-Price VeChain Price Prediction 2021

Digital Coin prediction website is not very bullish on their VeChain price prediction. Their VeChain price prediction for December 2021 is $0.095. This forecast is just about a $0.03 increase from VeChain current price. Meanwhile, Digital-Coin-Price also predicts that VeChain price USD would reach $0.109 by August 2021 before it dumps to their December prediction.

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Trading Beasts VeChain Price Prediction 2021

Trading Beasts VeChain predictions for 2021 are as well neutral. Experts of this price prediction website do not foresee a massive increase in VET price this year. The average price prediction they have for December 2021 is $0.087. However, the maximum price they predict for VeChain in 2021 is attractive. From April to December, Tradingbeasts.com predicts that VeChain will have a maximum price of up to $0.01.

Wallet Investor VeChain Predictions 2021

Wallet Investor marks VET as an excellent or profitable one-year investment. Their one-year VeChain price prediction is $0.09. Meanwhile, Wallet Investor is very bullish on their long-term VeChain predictions. According to tradingbeasts.com, VET prices will increase by over 260% in the next five years. Thus, investing $1,000 in VeChain now will yield more than $2,000 by 2026.

While Wallet Investor’s prediction is not very bullish for this year, their VeChain current price indicator shows that bulls have taken control of the VeChain market. Thus, selling pressure could take over anytime.

BitBoy Crypto VeChain Predictions for 2021

In a YouTube video of February 2021, BitBoy stated why we could experience 20 times VeChain current price in 2021. His analysis was majorly fundamental, and it is based on VeChain’s use-case and partnerships. The YouTube crypto analyst expressed his belief in VeChain as a network with almost no competitor within the blockchain space. As VeChain aims to change the future of logistics, the team is organizing partnerships, expanding in China and even to the West. Likewise, the VET token is growing to become a payment solution for the supply chain management.

Mind Math VeChain Predictions 2021

Mind Math is an expert YouTube crypto analyst. His VeChain price prediction was based on technical analysis of previous VET price action. He stated pivot resistance levels around $0.06 before VET crashed by 40% and now is regaining strength. Meanwhile, he also marked support points on the daily timeframe around $0.4. Mind Maths pointed out various technical factors which might be crucial to determine VET price movement in 2021. However, he didn’t give a definite VeChain value prediction.

VeChain Price Prediction 2021

As above, VeChain is a project with practical usage. VeChainThor is a public blockchain that derives value from projects its members create. Thus, developers who build decentralized applications on the VeChainThor network add to VeChain value. To promote VeChainThor, VeChain Foundation has set up programs to educate developers about the network. Examples of these resources are:

  • Lively Boot Camp for the VeChain community
  • Application Hub – where VeChainThor users can explore the information on the blockchain
  • A Developer Info Center – here programmers can find documents and guides to develop Dapps
  • Bounty Programs where projects built on the blockchain receive support from the VeChain community
  • VeResearch – this includes VeChiain’s research and academic papers. Likewise, their published technical write-ups.
  • VeVote – users and nodes vote on solutions to ensure the VeChainThor blockchain remains anonymous and impossible to manipulate.

While VeChain might have a reasonable use-case for its project, it is uncertain that many businesses will buy into their idea. Installing and managing RFID tags, smart chips, and other supply chain management devices might be expensive. As a result, companies that move a tremendous amount of goods will find it hard to pay for the items and labor costs. If VeChain cannot decentralize information within the supply chain, this could cause a hard time for VET value.

Within 2021 it is possible to see a reasonable spike in VET price. The VeChain Foundation is doing its best to achieve publicity for the project. Also, VeChainThor is a solution-based blockchain and not just a way to decentralize money. Like VeChain predictions of expert websites, VeChain price USD could reach $0.1. However, this prediction might be subject to general movements of the crypto market and Bitcoin price.

VeChain Price Prediction 2025

VeChain does not limit itself to the blockchain space. As the world continues to embrace technology and easier ways of doing things, VeChain will not be left behind. If VeChain targets developing markets like Africa, investors could find their supply chain concept interesting. Remember, Africans are gradually adopting the blockchain idea, especially to escape inflation of their currencies. VeChain value could reach one dollar or more by 2025 if it sustains more partnerships and product launches on VeChainThor.

Meanwhile, expert prediction sites like Digital coin predicted that VeChain price USD would only reach $0.2 by 2025.

Likewise, Wallet Investor predicts that VeChain price USD would be up to $0.24 by 2026. This forecast is a feasible prediction for the next five years.

VeChain Price Prediction Verdict

VET has a lot of fundamental backings. As a Blockchain-as-a-Service (BaaS) network, VeChainThor is pushing adoption and encouraging product launch because it is vital to any blockchain. If the team can secure as many products on the network, they can be sure of investments that will trigger VeChain value. According to VeChain news on their official blog, VeChain has secured numerous partnerships and is open for more.

Recently, PriceWaterhouseCoopers (PwC), an accounting and business advisory firm, bought shares in VeChain. PwC is looking to integrate the VeChain module to deliver a trust-free service within the Internet of Things (IoT) ecosystem.

Similarly, Vechain partnered with Jiangsu Electronics, a Chinese Company. The company will develop RFID chips that will ensure proper tracking of supply chain information.

Likewise, car producers like Renault have integrated VeChain for their manufacturing operations. BMW also uses VeChain to prevent odometer fraud in sales of its cars.

Moreover, Walmart China currently uses VeChain’s technology to ensure the safety of food during transit.

Furthermore, Renji Hospital in China also announced its plan to launch the world’s first Intelligent Tumor Treatment Center in October 2020. The medical management solution will be based on VeChain’s blockchain network.

Within and beyond blockchain, VeChain news is being spread wide. VeChain is the first five-star company to receive the TUV Saar Blockchain Service Certification. VeChainThor might still be in its early days of adoption and development. Therefore, VeChain value in 2021 and coming years will be mind-blowing. Investors who wish to add VET to their cryptocurrency portfolio can do that on Atomic Wallet.

How to Buy VeChain

Atomic Wallet is a safe and decentralized wallet to manage your VET and VTHO tokens. Users cannot buy VET directly on Atomic Wallet. However, you can buy from and exchange and transfer your coins to Atomic Wallet. You can buy VET on Binance and other major cryptocurrency exchanges. On their official blog, VeChain Foundation lists Atomic Wallet as a Third-Party Wallet to store VET.

How to Exchange VeChain

Atomic users can also swap crypto assets like Bitcoin, USDT, and many more for VeChain. Swapping is another simple method you can use to hold VET. Of course, you can always exchange VET for other cryptocurrencies too.

Disclaimer

Please do not take the VeChain price prediction article as trading advice. Ensure you do further research before buying a cryptocurrency. Understand that the crypto market is volatile.

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