VeChain (VET) Price Prediction – 2023, 2025, 2030 (2024)

Jason Conor

April 11, 2024 at 18:57 UTC (7 hours ago)

VeChain (VET) Overview

VeChain (VET) Introduction

Since its relatively humble beginnings in 2015, the VeChain network has evolved and is quickly attracting global attention. Currently, more than 30 companies within the Fortune 500 run live solutions on VeChain, including BMW, Deloitte, PwC, Walmart, LVMH, and Renault.

This VeChain price prediction guide will fill you in on everything you need to know about VeChain. Keep on reading to find out what VeChain is, from its features to technical analysis, historical data, price predictions, and more.

What Is VeChain (VET)?

VeChain (VET) is a self-developed blockchain platform built to boost supply chain management and streamline business processes. The platform was founded in 2015 by Sunny Lu, a former CIO of Louis Vuitton China. In its early days, the VET token functioned only as part of the Ethereum blockchain.

The founders, however, had some loftier goals in mind. In 2018, VeChain fully rebranded itself and transitioned onto its own public blockchain (VeChainThor), converting its VEN tokens to VET as well as adding the VeChain ‘gas’ token VTHO.

It has since evolved into an enterprise-focused, multi-coin IoT and supply chain management ecosystem and has successfully established a substantial customer base.

With the help of distributed ledger technology (DLT), the platform can organize and streamline information flow for complex supply chains. It uses two primary tokens: VeChainThor energy (a smart contract layer) and VeChain Token (or VET) for conveying value across the system.

According to VeChain’s white paper, the two-token system was curated to have a reliable model for decentralized application developers and ensure effective governance.

The VeChain white paper outlines the platform’s main aim, which is to make data transparent and actionable. It also aims to be an IoT (Internet of Things) intermediary and at the forefront of initial coin offerings made using VeChain.

By combining DLT with IoT aspects, the VeChain network is living up to its goal of making waves in the supply chain industry.

VeChain (VET) Fundamental Analysis

VET stands out as one of the first blockchains designed exclusively to meet the requirements of enterprise-level clientele.

It is one of the few crypto-projects that have a product-market fit with big names like Walmart China, Cointelegraph, PwC, Louis Vuitton, LVMH, BMW Group, Moët, and Hennessy.

Here is a quick overview of some of VeChain’s most notable features:

• Multi-task Transaction (MTT): VeChain’s multi-function atomic transactions empower developers to make batch payments, determine their sequences and add multiple calls to different contract functions.
• Controllable Transaction Lifecycle: With the help of BlockRef and Expiration transaction fields, users can specify the processing and expiration times if not included in a block.
• Fee Delegation: VeChain’s flexible transaction fee delegation schemes (Designated Gas Payer and Multi-party Payment) provide onboard users with a freemium model within a decentralized application.
• Proof of Authority: VeChain employs a Proof of Authority (PoA) model to ensure that future developments are in line with the vision of The VeChain Foundation. The blockchain is maintained by 101 Authority Masternodes (AM).
• Use Case: VeChain technology has a plethora of uses across various industries but has an immediate, significant, and obvious benefit within supply chains. The technology allows different companies within the supply chain (from couriers and merchants to distributors and producers) to use VeChain Identity Technology and track items in real-time through every stage.
• With asset digitization, RFID chips and QR codes, supply chain partners, manufacturers, and even consumers can track the movement of any product through the supply chain and quickly determine its quality and authenticity.
• Governance: VeChain employs a well-defined and unique governance system different from the traditional decentralized systems of Ethereum or Bitcoin. It is structured to maximize speed, efficiency, and transparency, where stakeholders with voting authority select the Steering Committee Board of the VeChain Foundation.

The Board then appoints committee chairs to oversee the Foundation’s operational units and adopt strategies. While this model is efficient, it does sacrifice some level of decentralization.

VeChain (VET) Price

VeChain is currently worth $0.04941 USD. VET has moved 4.89% in the last 24 hours with a trading volume of $226,849,497. VeChain is currently ranked 35 amongst all cryptocurrencies with a market capitalization of $3,592,811,610 USD.

Utilizing the relative strength index (RSI), moving weighted average (MWA), williams fractal (fractal) and moving average convergence divergence (MACD) from the chart above, we can determine price patterns for VeChain (VET) to decide wether it is going to have a bullish or bearish year.

VeChain (VET) Price Prediction

Our price predictions are formulated on technical analysis only. We employ several technical indicators, including MACD, Fibonacci retracement, RSI, moving averages, and trendlines. Our forecasts use real-time VeChain (VET) market data, allowing us to live update our website with dynamic price predictions.

Have a look at our VeChain (VET) price predictions.

Our price prediction forecasts use real-time VeChain (VET) market data and all data is updated live on our website. This allows us to provide dynamic price predictions based on current market activity.

VeChain (VET) Price Prediction 2023

VeChain, according to some, is one of the most amazing cryptocurrencies to rise this year (VET). The VET price forecast for 2023 anticipates a significant increase in the year’s second half, possibly reaching $0.074115.

As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $0.069174 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. VET is expected to have a minimum value of $0.059292.

VeChain (VET) Price Prediction 2024

In 2024, VeChain VET price prediction has much room for expansion. As a result of the potential announcements of numerous new partnerships and initiatives, we anticipate that the price of VET will soon surpass $0.123525. However, we should wait to see if the VET’s relative strength index comes out of the oversold zone before placing any bullish bets.

Considering the market volatility, VET will trade with a minimum trading price of $0.09882 and an average trading price of $0.108702.

VeChain (VET) Price Prediction 2025

If the upward trend continues until 2025, it could reach $0.172934 and VET may profit. If the market experiences a decline, the goal may not be met. VET is expected to trade at an average price of $0.158111 and a low of $0.148229 in 2025.

VeChain (VET) Price Prediction 2026

If VeChain successfully boosts market sentiment among cryptocurrency enthusiasts, the VET coin price could remain stable for the next five years.

According to our projections, VET will be green in 2026. The VET is expected to reach and surpass its all-time high in 2026. In 2026, the virtual currency will be worth $0.222344, with a minimum price of $0.197639 and an average price of $0.207521.

VeChain (VET) Price Prediction 2027

After some extensive forecasting and technical analysis, we estimate the VET price is expected to cross an average price level of $0.256931 by 2027, with a minimum price of $0.247049 expected before the end of the year. Furthermore, VET has a maximum price value of $0.271754.

VeChain (VET) Price Prediction 2028

Due to the future partnerships that are expected to happen by 2028, we are expecting that a bullish trend will continue, bringing the average price to around $0.306341. If VET manages to break the resistant level in 2028, we could see a maximum price of $0.321164, failing to gather the support VET needs by 2028 could result in a low of $0.296459.

VeChain (VET) Price Prediction 2029

While VET is striving towards interoperability between networks to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been placed at $0.345869 and a yearly price close above $0.370574 in 2029.

VeChain (VET) Price Prediction 2030

By 2030, VeChain will finally surpass its previous ATH values and record new price levels. The minimum price could be $0.395279 and potentially reach a maximum price value of $0.419984, averaging out at $0.405161.

VeChain (VET) Price Prediction 2031

The cryptocurrency market is known to be highly volatile which is one of the many reasons why price forecasting is a difficult task. BitcoinWisdom tries our best to forecast future price points with precision, however all predictions should not be taken as financial advice and you should DYOR (do your own research). In 2031, we are expecting cryptocurrency to have gained adoption across many sectors. As such, the maximum VET price in 2031 is projected to be $0.484216 in the event of a bull run, with an average price level of $0.464452.

Conclusion

VeChain has made a significant impact when it comes to innovation in the global economy based on the combination of DLT with an IoT stimulant. Analysts around the globe have taken notice of VeChain’s successful integration of blockchain technologies with physical goods, with Chinese companies being some of the first to take advantage of this potentially revolutionary technology.

With industry giants like Walmart China, BMW Group, and PwC all leveraging VeChain’s capabilities with consistent results, this blockchain model could likely go global very soon. VET is also expected to increase in value in line with the increased desirability and use of VeChain’s network, and investors predict that capital inflows into VeChain through partnerships will further drive up the currency’s value.

Overall, VeChain’s prospects seem quite promising. While cryptocurrency investments can never be 100% risk-free, it is clear that VeChain is powering a network with significant revolutionary potential. With ongoing developments and consistent improvements within the VeChain ecosystem, it is perhaps worth keeping an eye on in the future.

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