VeChain price prediction, we will be taking into account past price trends, project achievements, and market
To see how high VET price can go, we’ve gathered several the most ambitious VeChain price predictions
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What is VeChain (VET)?
VeChain is a blockchain-enabled platform that is designed to enhance supply chain management processes. By utilizing tamper-proof and distributed ledger technology (DLT), VeChain provides retailers and consumers with the ability to determine the authenticity and quality of products that are bought. From product source materials to servicing history, and spare part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all participants.
VeChain plans to achieve this secure supply chain management ecosystem via the method of asset digitization. VeChain enables manufacturers to assign products with unique identities to the platform. This will allow manufacturers, supply chain partners, and even consumers, to track the movement of products through their supply chain. VeChain makes use of its VeChain Identity (VID) technology, to mark and track a product. VIDs are produced using a SHA256 hash function, which generates a random hash value that corresponds to a VID.
Current Statistics of VeChain:
VeChain is currently trading at 0.00488481 USD.
Against Bitcoin, the crypto was valued around 0.00000044 BTC per chip.
The current market cap of the coin is 277,064,695 USD.
At the same time, the 24-hour trading volume in the coin is 30,559,334 USD.
With a Return on Investment (ROI) of -66.78%, the circulating supply of the coin is 55,454,734,800 VET.
from TeamViewer
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Market prediction for VeChain price
Cryptocurrencies are volatile and complicated, and there are many factors that can contribute to the growth or decline of their price. Keeping this in mind, there are still many crypto enthusiasts out there who spoke their mind out about what they think about VET’s price forecast. Let’s check out some of those:
#1 Wallet Investor
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, VeChain is expected to go down to $0.000001 in one year. This price prediction is very bearish pessimistic and it might not fall that much.
#2 Trading Beasts
Trading Beasts also gave a very neutral prediction saying that by 2019 end, VeChain might be in between $0.01 to $0.02, which is a wide range, so this prediction is given neutrally, without a showcase of any optimism.
#3 Mega Crypto Price
Mega Crypto price predicts that VeChain might reach $0.258 by the end of 2021 and $0.612 by the end of 2023. (VeChain Forecast)
#4 Smartereum
Smartereum is a site that regularly publishes cryptocurrency predictions. They believe that the price of VeChain could go up as high as $75 by the end of 2023.
#5 Cryptoground
Cryptoground predicts that VeChain might reach $2.58 by the end of 2019. They even added their version of VeChain (VET) price prediction 2020, where they stated that VET might reach $4.10 by 2020.
Our Verdict on VeChain price Prediction
VeChain (VEN) has been officially re-branded to VeChain THOR (VET) this year itself and even announced that it will be teaming up with the international car company BMW. VeChain Thor enables businesses to track their products throughout its entire supply chain cycle with the help of the blockchain. This aids in the assurance of quality and authenticity of the products. There are already many luxury goods stores, food/drug companies and logistics companies that are using this ecosystem. News broke this morning that the VeChain THOR team just sealed their biggest partnership to-date.VeChain THOR had announced a collaboration with Oxford University which will aid in the technical development of the VeChain THOR platform. Even the South Korean cryptocurrency exchange, Coinnest, added VeChain THOR to its trading platform and is offering direct fiat to VET pairing. These many collaborations and partnerships led to the massive growth of this digital currency. By the end of 2019, it is expected to reach $0.20, which can be regarded as an optimistic prediction, considering its current value.
Also Read - Chainlink (LINK) Price Prediction 2020, 2023, 2025
VeChain price prediction 2019
VeChain v4.0 is expected to feature the introduction of cross chain and sidechain technology and IoT integration. By the year 2019, the team expects to be focused on the expansion of the VeChain Thor ecosystem. Vechain is presently in talks with the Chinese government for the creation of a new carbon ecosystem—with multiple participants (large enterprises) that could. take part. This would be bigger than BYD’s Carbon Credit application for electric vehicles (EV). Vechain could find itself as the primary blockchain for the entire ecosystem of the “tracked” economy within Chinese initiatives. BY 2019, Q3 and Q4, VET community is planning to launch distributed data exchange. By 2019 end, VET might reach $0.20 as it is set for a huge development plan in 2019.
VeChain price prediction 2020
VeChain, in partnership with DNV , a risk management and quality assurance company has announced that they are leveraging public blockchain technology to rapidly advance drug traceability, security, monitoring, and auditing. This solution will be introduced within China firstly, but it has the potential to eventually be implemented globally by next two years. By 2020, VeChain might achieve all of China’s new traceability requirements.VeChain believes that IoT and Blockchain technology are born to be working together. The development of IoT will result in widespread adoption, the International Data Corporation projects 45 billion IoT devices worldwide by 2020. By the end of 2020, VeChain might touch the $0.22 mark and might exceed up to reach $0.22882.
VeChain price forecast 2023
Ever since the VeChain project publicly launched, the team has been announcing partnership after partnership. Some notable companies that VeChain has partnered with are PWC, DNV GL, and BMW, but these are just the biggest international names from a long list. As indicated by VeChain’s highly diverse partnerships, the blockchain platform sets out to bring the advantages of decentralized applications and smart contracts to a large number of different industries. This shows its use cases increasing exponentially. By 2023, VeChain might reach $0.38939, which may move VET upwards in the ranking order, can move upwards as per the coinmarketcap.
Due to the team’s expertise and vision, VeChain might touch new milestones over a period of five years. Because of a very good connection and rapport with the Chinese government, the digital currency is all set to surge to greater heights.
VeChain price forecast 2025
VeChain is in progress mode to build a blockchain-based platform that does not only limit itself to the digital world but also can integrate with the actual business ecosystems as well. This would ensure that enterprises would be able to control various functions with the assistance of this blockchain. If it is able to provide complete integration of the blockchain-based platform with the actual business world, it would be easier for the companies to use the blockchain. By 2025, VeChain might reach $0.1.
