The crypto market is volatile. What was bought at $100 today may drop to $50 in a matter of hours. Thus, it is recommended to set goals in order to know where to fix your assets. For example, if you read the VeChain price prediction, you can set a limit order for sale and restrain from checking the crypto price over and over again.
What Do We Know About VET?
VeChain (VET) is a coin of the VeChain Thor platform, announced in 2015 as a blockchain for supply chain management. However, in 2018, the team revised the concept of the project, and now it is a full-fledged BaaS platform (Blockchain-as-a-Service), which allows small and medium-sized businesses to use blockchain for money transfers.
The platform digitizes any physical product, transport, container, or box and stores data about them in the distribution registry. For this, RFID tags, NFC chips, and QR codes are used. This means that the physical object is assigned an identification number, which is entered into the blockchain. Then an identifier with a QR code or RFID tag is applied to the object, thanks to which interested parties can identify it and trace its history in the blockchain.
An NFC chip is also attached to large and significant objects for automatic remote interaction with other objects.
This blockchain technology is used to store corporate and business information. For example, storing the history of product promotion along the supply chain, including data on the expiration date, as well as delivery conditions:
Such information will be recorded in the blockchain and cannot be deleted or changed, which means that all business partners and end users will be able to verify the authenticity and quality of the goods.
VET Value History
At the time of this writing (early autumn 2022), the value of the VeChain (VET) cryptocurrency is $0.02496, and the capitalization is about $1.7 billion. In the rating of the Coinmarketcap website, VeChain ranks 32nd.
The maximum price of VET after moving to its own blockchain was $0.2782 in April 2021, and the minimum was $0.001678 in March 2020, when there was a massive collapse in both the cryptocurrency and the stock market.
At the time of publication, the VEN cryptocurrency is at the stage of correction, after setting a historical maximum. 2021 turned out to be the most successful year in the history of the coin — growth since January amounted to more than 1,530%.
Such a sharp rise in the price of VET was possible thanks to the chance to exchange crypto anonymous. And if the decentralized platforms will continue to develop, we’ll see another high of up to $1 per coin.
VeChain Price Forecast
Here you can find a summary of the best forecast services for the coming years. These experts are famous for accurate and timely price predictions.
The analysis of Cryptopolitan.com and Capital.com say that the altcoin could possibly reach $0.037205 in the second half of the year.
The specialists admit that there won’t be any squeezes, the price will grow gradually. Also, don’t be afraid of sharp dumps. Averaging $0.034725 in price, VET is expected to become the #1 IoT blockchain thanks to its collaborations and achievements. The minimum value to expect this year is $0.029764.
If VeChain investors don’t lose interest in the project, the technology can survive numerous bull markets.
Priceprediction.net thinks that VET will go green in 2025. It is expected to reach and exceed its all-time high in 2025. That year the virtual currency will be worth $0.111463, with a minimum price of $0.099079 and an average price of $0.104032.
Gov.capital admits that the VeChain project offers a really useful technology, so it is not surprising that they have many partners, which will inevitably lead to growth.
In 2029, VET will go beyond its 2021 ATH and remain at new price levels. The minimum price could be $0.197893 and potentially reach the maximum price of $0.310261, averaging $0.202840.
Capital.com expects that in 2030, the cryptocurrency will gain acceptance in many sectors. Thus, the maximum price of VET in 2030 is predicted to be $0.242429 in the case of a bull market with an average price level of $0.232534.
Does VET Have an Optimistic Future?
The project has an excellent team and an impressive list of partners, which allows us to talk about the great prospects of this cryptocurrency. However, it is hardly suitable for short-term investments. The potential of VeChain Thor will be revealed gradually as it is implemented in real business. This may take three to five years.