Go through this tutorial to understand VeChain (VET). Learn from experts about VeChain (VET) Price Prediction in the coming years:
VeChain (VET) cryptocurrency is based on and is a native token of a blockchain known as the VeChainThor blockchain.
It combines both decentralized and centralized finance and is mainly used by corporates in use cases like tracking goods and information to improve efficiency in the logistics and supply and chain industry. It also facilitates quick or instant settlements and payments for the corporates using it in these use cases.
The cryptocurrency is available to the public and corporate for investing, buying, selling, trading, and staking. It is also used for price speculation on crypto trading platforms and exchanges around the world.
The cryptocurrency facilitates instant and very low-cost transfers of monetary value globally for individuals and corporates, regardless of the location of the senders and receivers. USD and other fiat money may take days to send and receive for some locations and it is very expensive for both micro and large value payments.
Therefore, VET and other cryptocurrencies improve on that.
What You Will Learn:
- Understanding VeChain Forecast
- What is VeChain
- VeChain VET Predictions
- Frequently Asked Questions
Understanding VeChain Forecast
The blockchain has in-built support for IoT, NFC, smart contracts, sensors, and RFID technologies to facilitate the recording and tracking of information in these use cases. However, it also supports smart contracts and allows developers to build decentralized applications for various use cases.
This tutorial looks at the fundamentals of VET crypto, the blockchain it is based on, and the price prospects until 2030 and beyond.
- VET and VeChain blockchain began as a supply chain and logistics management but has since expanded to include other applications and industries. It is now used by over 40 companies to facilitate their operations.
- VET has a circulating supply of 22 billion+ VET tokens. The maximum supply is 86 billion tokens. Given these metrics, crypto could become scarcer and more priced as time goes on.
- VET is traded in 152 spot markets or against 152 pairs against other cryptocurrencies and tokens. It represents about 100 crypto exchanges. It is tradeable in 21 perpetual markets or against other cryptos and tokens in perpetual markets. It represents about 18 cryptocurrency exchanges.
- VeChain looks like it is most suitable for very long-term holding but corporates use it for supply chain, logistics management, and other industries.
- It is favored as a staking token and for cross-border large-scale instant and low-cost settlements and transactions by individuals and not for holding or long-term price speculations. It could be suitable for very short-term or momentous price speculation when there is an improvement in overall crypto market conditions.
- The crypto will likely be valued at below $1 until 2029 or 2030.
What is VeChain
VeChain (VET) cryptocurrency and blockchain are designed for supply chain management and business processes, but it has since expanded to become a platform for creating, hosting, and executing smart contracts and decentralized applications by developers and general users.
VeChain seeks to streamline the process and flow of information in this industry using distributed ledger technology. It utilizes blockchain to eliminate counterfeiting of luxury goods by recording all transactions and processes on a blockchain.
It uses NFC, RFID tags, and sensors to monitor critical data during good shipments, for instance. It also natively integrates IoT technology to facilitate its communication with IoT devices.
The cryptocurrency also solves the issue of delays in payments and transactions across nations as well as high settlement fees.
The native cryptocurrency known as VeT is built on a blockchain called VeChainThor which utilizes a proof of authority protocol of governance where a total of 101 authority masternodes verified by the Foundation are used to verify and validate transactions on the network.
Each masternode needs to stake 25 million VET. Economic masternodes can also vote on matters that require 10,000 VET each to participate. 20% of the vote (30% when the user is verified) is held by individuals holding over 1 million VET. The rest of the vote is split among community members.
VET and VeChainThor are well-established in China, having been founded by Sunny Lu and Jay Zhang in 2015. They have experience working with Vuitton China, Deloitte, and PriceWaterhouseCoopers.
The project held an ICO in mid-August 2017, reached a hard cap of 200,000 ETH, and issued its tokens to the public. It, however, later refunded money to all Chinese citizens who had bought them, after the government banned ICOs in the country. The project started in Ethereum but later moved to its blockchain in June 2018.
Blockchain and crypto are used by over 40 companies across 12+ industries apart from supply chain and logistics. The companies include Walmart China, FoodGates, Bayer China, Shanghai Gas, BMW, H&M Group, PICC, and LVMH. One of its first projects was to implement blockchain technology in China’s public sector for the government of China.
It is being used on IoT devices to improve safety in the food transport industry, authentication of items in supply and logic management to fight counterfeiting of goods, secure storage and management of personal and other health records, and carbon emission detection IoT devices to help track and reduce carbon emissions.
How VET Cryptocurrency Works
The image below shows the top 8 VET perpetual markets:
VET cryptocurrency facilitates transactions on the VeChain blockchain network and acts as a speculation token tradable, stackable, and holdable on secondary markets, cryptocurrency exchanges, and cryptocurrency wallets. Holders of the token can create another token called VTHO, which serves as an energy token for carrying out a transaction on the blockchain.
VeChain comprises an Android and iOS wallet, as well as a VeChain Sync desktop wallet that can sync with the Ledger hardware wallet. However, VET crypto can be stored on these and other wallets like TrustWallet, Atomic, Exodus, MySafeWallet, Guarda, Ellipal, Arkane, etc.
VET serves as a smart contract facilitation token while VTHO serves as a governance token. VTHO serves as a gas for powering smart contracts, and developers also use it to cover the cost of contract execution.
Anyone can stake or hold VET in their wallets to earn a passive income. VET is earned by validators when they verify or validate transactions on the blockchain network, although the validators must also be approved by the Foundation. It is an energy-conserving token since it uses a proof of authority protocol – a variation of proof of stake protocol.
Both VET and VTHO are available for public buying, selling, holding, and investing.
Other features of the VeChainThor blockchain make it more useful to enterprises. These include:
- Multi-party payment.
- Controllable transaction lifecycle: Set a time when a transaction is processed or expired if not included in the block.
- Flexible transaction fee delegation schemes: These enable a freemium model that helps onboard users without friction.
- Multi-transaction tasks like batch payments, adding multiple calls to different contract functions into one transaction, and determining their sequence.
- Set transaction dependency to ensure execution orders meet business needs. Transactions with dependencies are not executed until the required transactions are processed.
It takes 10 seconds to confirm a block consisting of several VET transactions. The blockchain can reach 10,000 Transactions Per Second (TPS). This is despite launching with a maximum TPS of 50. The peak TPS registered is 165 although it processes 100 TPS on average.
VET Use Case Examples
- DNV GL utilizes blockchain for digital assurance for the food and beverage industry and audits and data collection.
- PriceWaterhouseCoopers utilizes blockchain for improved product verification and traceability.
- Kuehne & Nagel uses VeChain to smartify parcels and assets. It uses a digital chip containing a private key that reflects ownership information on the blockchain.
- BMW Group utilizes VeChain to store vehicle data and secure provision to third parties. Also, for data privacy and protection.
- Shanghai Gas uses VeChain for tracking delivery information, transparency in product processing, and an LNG risk management database.
- PlatformXChain uses VeChain to list its collectibles.
- H&M uses VeChain for supply chain data collection from its product lines.
- Sara Regensburger uses VeChain for handmade production traceability.
VeChain Foundation is a non-profit organization registered in Singapore in 2017. It builds new partnerships relating to the company, blockchain, and crypto.
VeChain has strong working partnerships with several companies globally. This includes PriceWaterhouseCoopers, one of the largest audit firms in the world; BitOcean cryptocurrency exchange; BMW Group; and China National Partnership for the government of China.
History of VET Token Price
VeChain cryptocurrency VET started trading at the price of $0.24 on August 22, 2017. The minimum price it has ever been (all-time-low) is $0.001678 recorded on March 13, 2020. It traded for under $0.02 for over 3 years since starting.
The cryptocurrency broke the resistance of $0.0082 in June 2020 and the price pumped to $0.022 in July 2020 and closed the year at $0.0220.
A significant pump for VET started in December 2020. The pump saw the coin trade at $0.093 in March 2021, and $0.14 in April 2021, up to the highest of $0.2782 in April 2021.
The coin then started a downward trend shortly after, back to $0.2 and $0.17 in the same month of April 2021. It then shortly pumped to $0.23 in May and then began a downward trend back to $0.087 in the same month of May 2021.
It recorded the 3-month lowest price of $0.059 in July before later pumping to $0.15 in August 2021 and to a significant high of $0.16. It then tumbled to $0.11 then to $0.087 and $0.084, all in September 2021.
October 2021 was a productive month for VET holders because the coin pumped back to a high of $0.12 on October 9, 2021, $0.14 on October 23, and $0.18 on November 2021. Since then, the price has entered into a free fall mode to $0.078 on December 14, 2021, and ended the year at $0.085.
The lowest it traded in 2022 was $0.022 in July and the highest was $0.085 in March. Since recording the lowest yearly price in July, crypto went on an uptrend to $0.03246 in August.
VeChain Price Predictions Overall
VeChain VET is predicted to trade at $0.035 in 2022, a price it has largely adhered to. Experts expect the coin will grow in value to as high as $0.0729 in 2025. The VeChain price prediction was given by Trading Beasts. DigitalCoinPrice gives much lower VeChain price predictions — $0.048 but the highest possible price given by Gov Capital’s $0.5497.
Price prediction table
|Year||Maximum price||Average price||Minimum price|
Is VeChain a Good Investment?
VET has lost significantly by 77% overall on its price from the time it started to date (5 years). That has made it worse for short-to-medium term holdings so far. Many opine that cryptocurrency may not be the best for long-term investment.
However, the usability and application of the VeChainThor blockchain are very likely to overturn this overview. Its fundamental value can be judged by the products the projects provide. But the project has received criticism for not being fully centralized.
It combines both DeFi and centralized finance. The same companies that use blockchain for their operations mostly run the nodes.
The cryptocurrency is projected to sustain a price of under $1 for the next five years. Therefore, even if it was good for long-term investment, it would not be the best among the many cryptocurrencies we have given VeChain forecasts for at SoftwareTestingHelp.
The delinking of crypto investments from traditional investment and that of altcoins from Bitcoin has affected cryptocurrencies in a way. Therefore, away from price pumping and dumping, the usefulness of each digital money and crypto will have a huge effect on its price in the future.
Therefore, since VET and VTHO have real-world use cases across many industries, we expect this value to provide a good basis for VET price growth in the long term. This may be a good case for holding VET tokens for the long term for 10 years and beyond.
However, most of the tokens employed by the corporate world in facilitating transactions and data flows in supply and logistics are not the best for price speculation, even in the short term. That’s because, for instance, these are more centralized tokens whose centralization (in the case of VET and similar tokens) largely affects and controls the price.
Most of the vetted nodes act to serve the needs of those organizations and they have to control their price. Of course, they would like to make the price as low as possible to keep the transaction costs as low as possible.
That makes VET not so valuable for speculation. Looking at historical prices, crypto-only fits short-term price speculation mostly when there is a positive outlook for the entire crypto industry rather than for long-term holdings. It is also a worthwhile investment for those people and companies that want to be masternodes and transaction verifiers on this platform.
Anyone implementing blockchain in their operations would generate a lot of value to improve efficiency. This would help them reduce cross-border transaction costs and times. Other financial benefits include reducing business overhead costs, improving product traceability and accountability, as well as reducing counterfeits, just to mention a few.
These investors would also generate significant returns from staking the cryptocurrency. The approximate ROI is 2.2%. Additionally, stakeholders receive free VTHO (approximately 0.000432 VTHO per VET distributed daily plus additional rewards for contributing to the network) in their wallets whenever a block is verified or created.
VeChain Sentiment Analysis – Is VeChain a Good Investment?
VET market capitulation all-time chart:
VeChain is a common crypto for crypto trading personalities, groups, and companies. VeChain sometimes generates 4 million + in monthly social engagement. This is a considerably high level of engagement compared to most crypto projects. Bitcoin, by comparison, generates hundreds of millions of monthly social engagements.
Bitcoin’s tens to hundreds of thousands of daily mentions on social media have helped boost its price significantly and this should be true for any cryptocurrency aspiring to grow.
VeChain cryptocurrency and blockchain have about 2,069 monthly social media contributors who share a total of about 3,081 posts. It dominates 0.18% and ranked #75 in trading volume ranks. We have a long way to go compared to the leading cryptocurrency.
What Could Change VET Price Dynamics
Many factors could contribute to VET and VeChain blockchain growth and price increases in the coming years. They are:
#1) New Partnerships: New partnerships could cause the price to pump unevenly and the extent of the pump is determined by how popular and hyped the event or partnership is. If members of the public believe a partnership will deliver higher value, the price pumps more.
#2) Stronger Investors: It is reasonable to assume that VeChain will continue to attract more investors in the coming years. This is because it delivers real value, especially in the supply chain and logistics. It now allows smart contracts and dApp development on top of itself.
#3) Western Adoption: Until VeChain creates more acceptability by institutions and organizations beyond Chinese jurisdiction, it might likely reach a growth limit sooner than later. It is likely going to have many more partnerships beyond the Chinese market.
#4) Growth in Counterfeit Markets: Counterfeits are growing at around $400 billion per year and the growth is incremental from one year to the other. This creates more demand for such products as VeChain.
#5) Community Growth: Crypto is as good as the strength of the community backing it up. The growth of masternodes, trading networks, partnerships, and backers is likely to propel price growth for VET in the long term. The community generates ready demand for cryptocurrency.
Future Price Predictions – is VeChain a Good Investment
VeChain VET Predictions
VeChain will trade at a price between $0.036 and $0.041in 2022, putting the average prediction at $0.037. All price forecasts for each of the months in the year 2022 place the coin price at an average of about $0.03. The VeChain prediction of $0.032 for August 2022 was fairly correct.
Experts expect the price to break the $0.040 price point in November 2022, although it could as well drop to $0.035. It could trade at between $0.036 and $0.0041 in December. Some experts state that the crypto could end the year at $0.053. These VeChain predictions are considered the most likely going by current market growth.
We still have had more aggressive VeChain price predictions. Other VET predictions put it at a multi-year high of $0.278. This would signify a 1,000% move.
VET could trade at between $0.0388 to around $0.500 depending on which prediction you are looking at. The price for the year 2023 and onwards will depend on network growth, social buzz, community growth, usability, and trading volumes.
A prediction of between $0.0533 and $0.063 is highly likely going on the current price movement. The token has stayed at the price of $0.0388 for the better part of 2022. Whether the price will increase may also depend on the larger crypto market macro and microeconomics.
That said, the experts expect the price to break the $0.040 in March 2023, although it could happen as early as January of the same year if all goes well. The crypto is expected to breach the $0.050 price point at least in June 2023 or October 2023.
VET will probably trade at a reasonable minimum of $0.070 and $0.088 on the maximum. Current crypto market conditions and their growth could see them attain these or higher price points. However, we expect a lot of variations in VET prices during the same year as crypto is highly volatile.
The price could fall back to $0.0617 instigated by some factors, like regulatory issues. However, it could still pump to as much as $0.1156 in the end if abnormal market conditions prevail.
An AI and ML price prediction model put the average price at between $0.18 in January and $0.23 in December. The lowest price, according to this more aggressive VeChain prediction, spirals from $0.17 in January to $0.22 in December. The highest price ranges between $0.19 in January and $0.25 in December, incrementally.
VET will trade at a minimum of $0.048 by 2025, going by a prediction given by DigitalCoinPrice analysts. They posited that the price could go as high as $0.0621 in August 2025. A different prediction by Trading Beasts puts the price at $0.0729 on the maximum, by 2025.
GOV Capital has given the most aggressive prediction for VET, stating that it will reach $0.5497 by end of 2025. That would present a nearly 200% increase from its all-time high.
It is fairly reasonable to expect VeChain to trade at between $0.17 and $0.19. This puts the price at $0.17 on average. VET will likely break the $0.1 price point by the end of 2025 and reach as high as $0.12 in January. The price is expected to break by $0.15 in at least June or August 2026.
We have had more predictions for the cryptocurrency at an average of $0.13 in 2026. Others state it could vary between $0.12 in January and $0.17 on the minimum side in December 2026. The maximum price could range from $0.13 in January and $0.18. Of course, these predictions on the lower end are also possible in a deteriorating market compared to the current one.
More aggressive VeChain forecasts are highly possible only in a pumping market put VET price at incrementally between $0.31 in January and $0.4 in December. It could open the year at $0.29 on the minimum and $0.33 on the maximum.
According to this forecast, the mid-year price would be between $0.32 to $0.37, and an end-year (December) price of between $0.37 and $0.43.
VeChain price forecasts put the price at between $0.25 and $0.28 in 2027, which means the average price will be $0.26. The crypto could open the year at between $0.16 and $0.18 in January according to this VeChain forecasts.
Mid-year price is predicted at $0.21 and $0.22 and the end-year (December) price will be between $0.25 and $0.28 going by this prediction. This appears to be the most reasonable VeChain price prediction.
More VeChain price predictions allege it could trade at between $0.4 in January and $0.52 in December. The cryptocurrency would trade at between $0.38 and $0.43 in January. This VeChain price prediction puts the crypto at between $0.42 and $049 in June 2027. The end-year price could spiral between $0.48 and $0.55 in December 2027.
Of course, this is a more aggressive VeChain forecast. A more cautious VeChain (VET) price prediction shows that the price could be between $0.19 and $0.25 on average.
Experts expect VeChain to trade at between $0.37 and $043. As per this prediction, the average price will be $0.38. The year’s opening price will be between $0.24 and $0.28 ($0.27 on average). The mid-year (June) price will range between $0.30 and $0.34 ($0.31 on average) and the end-year price will be between $0.37 and $0.43 ($0.38 on average).
We take the above as the most reasonable VeChain (VET) price prediction.
The cryptocurrency is likely to trade between $0.53 in January and $0.67 in December according to a more optimistic outlook or VeChain forecast. This more aggressive prediction forecasts the price at between $0.55 and $0.64. The end-year prediction puts the forecast at between $0.63 and $0.72.
The price of VeChain will range between $0.40 in January and $0.54 in December 2029 on average. Of course, we will adopt this as one of the most reasonable VeChain predictions. This analysis predicts that crypto will trade at around $0.46 in June.
VeChain predictions state the cryptocurrency could trade between $0.69 in January and $0.88 in December on average. The price could range between $0.64 and $0.74 in January, $0.72 and $0.83 in the mid-year, and $0.82 and $0.94 in December.
There is no way VET could jump from $0.94 maximum in 2029 to $4.54 in 2030 as per some VeChain price predictions given online. This would be outrageous even in an extremely bullish cryptocurrency market.
The highest it can get is probably $1 based on reliable VeChain price predictions. One of these predictions expects the crypto to trade at between $0.57 in January and $0.77 in December 2030. The maximum opening price is $0.59 in January, $0.72 in June, and $0.91 in December 2030. The minimum price would be $0.52, $0.65, and $0.75, according to this prediction.
A price between $0.64 and $0.79 is very likely for VeChain cryptocurrency, but this is a more pessimistic prediction. The same analyses expect the price to be between $0.95 and $1.10 in 2031. Therefore, it would be reasonable to expect the price to cross $1 in at least 2030.
Paybis also posted a rather weird prediction for VET at between $50 and $60 in 2030. They said that the price could even reach $100+ in 2050. We do not expect the price to reach this point based on our analyses in this tutorial.
Also Read =>Polygon Matic Price Prediction for Year 2022-2030
Frequently Asked Questions
Also Read => Bonfire Crypto Price Prediction Till Year 2031
Q #1) Is VeChain a good investment?
Answer: VeChain VET is a good investment judging by the value generated by and in blockchain and VET crypto. For instance, the blockchain is invested by over 5 company partners and 40+ companies that utilize it in their operations across different industries.
Crypto, which has a maximum supply of 86.71 billion VET and a current circulating supply of 72.51 billion VET, is trading at $0.031359 which is 90% down from its all-time high. For that reason, be cautious of when and how much to buy.
Q #2) What is VeChain VET?
Answer: VeChain token VET is a cryptocurrency utilized as a transaction fee payment token and smart contract settlement token for the VeChainThor blockchain. People also use it for payment of goods and services at merchant stores that support it and as a speculation token (it can actively be traded on cryptocurrency exchanges).
It can be used for instant international cross-border payment settlement at very low transaction fees compared to USD and other fiat money.
VeChainThor blockchain uses smart contracts and allows developers to build dApps on it. The blockchain is utilized by corporates in supply and logistics, as well as other industries. It has in-built IoT capability, NFC, and RFID tags to allow tracking and recording of data, and this helps improve efficiency in logistics and other industries.
Q #3) What is VeChain worth?
Answer: VET cryptocurrency has returned -67.25% in 1 year, 25.98% in one month, and 8.33% in one week up to August 8, 2022. VeChain blockchain and its native cryptocurrency VET are worth much more looking at their usability. For instance, over 40 companies utilize blockchain and crypto for logistics and other operations.
Q #4) Is VeChain the future?
Answer: VeChain blockchain and VET tokens have a future, especially in logistics and supply management. It allows developers to build custom smart contracts and dApps on it, which extends its application. The coin is expected to pump to around $0.034 by the end of 2024. Other products include the VeChainThor Wallet and VeVote – an online blockchain-based voting platform that makes it hard for vote manipulation and ensures voter anonymity and accuracy.
Q #5) How much will VeChain be worth in 2025?
Answer: VeChain VET cryptocurrency is estimated to trade between $0.1 on the minimum and $0.12 on the maximum in 2025. That will take the trading price to around $0.10. Of course, vechain price predictions vary greatly and can change due to market factors.
Q #6) Will VeChain reach $1?
Answer: VeChain is forecasted to reach the price of $1 in 2030 or thereabout. That depends on the analyst you are looking at. Some state that it could trade as low as half a dollar in that year, meaning it would take about two years or so to reach $1 in 2032.
Q #7) How high will VeChain Go?
Answer: VeChain is expected to trade at between $0.048 and $0.5497 ion 2025 depending on the expert whose analyses you are considering. The expected price in 2028 is between $0.30 to $0.72 and in 2030, it will trade between $0.52 and $1.1. It could trade at as high as $100 in 2050.
Q #8) Where to buy VeChain?
Answer: VeChain cryptocurrency is listed and available for trading at over 100 cryptocurrency exchanges including Binance, KuCoin, Huobi, Bitfinex, Gate.io, Bithumb, and Bittrex among others.
Q #9) How to invest in VeChain?
Step #1: Sign up on Binance and other 100+ crypto exchanges where it is supported. Some need identity verifications. Some decentralized exchanges and wallets do not require any signups.
Step #2: Deposit the money or cryptocurrency for which to exchange VeChain. This depends on whether that crypto or fiat money is supported for deposit at your selected exchange above. Some exchanges let you buy VeChain directly with a bank or credit card or through a third party without having to deposit a balance.
Step #3: Visit the exchange or market tabs and exchange the deposited funds for VeChain.
Step #4: Invest – You can hold (stake) it in your wallet to earn a small passive income or invest in other products like futures or spot trading.
The VET VeChain price prediction discussed the main price drivers for cryptocurrencies, including in the present and future.
We do not expect a surprise price pump for the VET cryptocurrency in both the short and long term. That’s because of its Cryptonomicon – not only is it more of a centralized cryptocurrency, but also the nodes are more of a corporate. That will curtail its price to a large extent. It will take at least about seven to eight years before VET value can stabilize at $1 and above.
- Time taken to research and write this tutorial: 21 hours.