With the increase in blockchain mass adoption more projects focused on supply chain improvement arise in the crypto industry. VeChain Thor network was one of the first to offer such solutions for enterprises. Analysts see a lot of potential in the project and expect its price to boom this year. Read our VeChain crypto price prediction to make the best investment decision.
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VeChain Thor Fundamental Analysis
VeChainThor is a public blockchain that derives its value from the activities that the members initiate within the ecosystem to participate in solving real-world economical problems. It is also a layer-1 smart contract platform.
The project was launched in 2015 as a private consortium chain and worked with a host of enterprises to explore applications of blockchain. In 2017 VeChain started the transition to the public blockchain with the VET token. And in 2018 it went live on its mainnet and launched a VET ticker.
The project has a unique two-token system (VET and VTHO coins), which allows separating the cost of using the network from the market speculations. VET is used as a store of value and also as a value transfer medium. VTHO is generated from VET and is needed for paying the gas fees, so VET is not spent for the data recording.
The project mainly focuses on supply chain management. The use of VeChain allows manufacturers to add sensors to their products, for example, RFID tags, which record the data on the VeChain blockchain. The goal of the project is to build an ecosystem capable of improving the major data hurdles for multiple enterprises. To achieve that VeChain uses distributed governance and the Internet of Things.
VeChain Thor blockchain protocol includes the meta-transactions features, such as multi-task transactions, a controllable transaction lifecycle, and a transaction dependency. They make development easier for enterprise adoption. The platform also has an in-built mechanism of on-chain governance.
VeChain offers greater security, efficiency, and an easy way to track any type of data. Moreover, it reduces the costs through trustless automation via smart contracts. The technology has been already utilized by numerous clients from different industries.
VeChain Thor Live Price Chart
An overall bull run of the crypto market last year caused the VET coin to hit the all-time high of $0.27 on April, 17, 2021. Just a few weeks after the token has lost most of its achievements and sustained around $0.12 till the middle of June when the market downtrend deepened.
After the dip to $0.057 on July 20, the VeChain token started to climb up, recovering its price. By the middle of August, it has stabilized at around $0.13. After jumping to $0.15 on September 5, VET went on a downtrend.
In October the token broke out past the $0.1 mark, staying there till the end of November, but later fell off and finally found support at $0.044 at the end of February.
Like most of the major cryptos, VET has a rough start in 2022. At the beginning of January, the asset was traded for $0.076, but after three weeks was pulled off to the level of $0.051. After the short recovery in February when the VET token price reached 0.067 it went down again to the level of $0.045.
After the start of the Russian-Ukrainian conflict, the VeChain token has reached its lowest level in the past 12 months. From the end of February till the middle of March it was trading at around $0.047. Only at the end of March, did the asset start to recover its value.
During the last week, the price of VeChain crypto decreased by 19% and still stays bearish. Though the analysts consider it a temporary downtrend and expect the token to skyrocket once the crypt market will return to a bull run. According to VET token price prediction it might be trading for $0.063 by the end of the year.
VeChain Thor Technical Analysis
Since late March 2022, VET has been trading in a falling wedge pattern, which hasn't seemed to reach a breakout point yet. The previous support level of ~$0.04 is a long way to go from the current numbers of ~$0.07. However, it will probably not go that low — there are some signs that may promise consolidation starting around now. The trend may turn real soon — stay tuned for VET crypto news.
VeChain Thor Price Prediction
VeChain Thor Price Prediction for 2023
VeChain Thor Price Prediction for 2024
VeChain Thor Price Prediction for 2025
VeChain Thor Price Prediction for 2026
VeChain Thor Price Prediction for 2030
As it can be clear from the analysis cited above, VeChain Thor (VET) projections are rather contradictory. There is no universal consensus either about positive or negative future VET price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the VeChain Thor projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
What can be the VeChain price in 2025?
VeChain price can be as high as $3 in 2025, according to some VET price predictions for 2025. Take them with the grain of salt, though, as VeChain long-term price predictions, like those for any other coin, are subject to change.
Will VeChain reach $10 at the end of 2025?
No, it’s doubtful that VeChain will reach $10 at the end of 2025. VeChain price predictions for 2025 don’t put the coin’s price this high at this point. However, if there is a big breakthrough of some sort, there is a small possibility, although it’s still negligible at the moment.
Can VeChain (VET) hit $10 in 2022?
No, VeChain (VET) almost definitely won’t hit $10 in 2022. This would entail growth of a couple of orders of magnitude in a very short period, which is unlikely. The sources providing VeChain price predictions for 2022 agree this won’t happen.
What will be the price of VeChain after the upcoming bull run?
There is a good chance that the VeChain price will pump during the upcoming bull run. Analysts making VeChain predictions feel comfortable giving the numbers like $0.25–$0.3 in their forecasts.
How good is it to invest in VeChain?
It’s probably quite good to invest in VeChain now, as its concept and business partnerships are strong. VET coin price predictions suggest that its price will grow steadily, while not necessarily skyrocketing.
What is the future of the VET coin? Is it a good investment?
The future of the VET coin seems bright, as the VeChain network has clear use cases and solid partnerships in place. VeChain fundamental analysis and VET coin predictions suggest that it’s a good investment to hold long-term.
Is VeChain or Solana a better investment?
It’s hard to say whether VeChain or Solana is a better investment since both have nice fundamentals. It’s probably best to hold both long-term to diversify your portfolio, as both Solana and VeChain price predictions for 2023, for example, or 2025, sound good.
How much will VeChain be worth in 2021?
VeChain can be worth close to $1 in 2021, according to some analysts’ VET crypto price predictions for 2021. As always, you’re welcome to do your own research to conclude what the VET token price will be.