Not all of the numerous blockchain projects offer users a real utility. VeChainThor network is one of the platforms with proven usability that covers the supply chains. After a long crypto winter that started in 2021, one of the tokens powering the ecosystem, VTHO, is showing signs of recovery. Read our VTHO crypto price prediction to get a better understanding of the market situation.
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VeThor Token Fundamental Analysis
VeThor is one of the two coins employed by the VeChainThor public blockchain launched in 2015 and rebranded in 2018. The platform derives its value from the activities created by the members within the ecosystem solving real-world problems.
VeChainThor blockchain is an open-source network that offers an increased processing speed, thus stimulating the developers to collaborate in improving the project. Thanks to its meta-transaction functions VeChainThor allows organizing multi-party payments and multi-task transactions.
The purpose of the VeChainThor network is to ensure that each part of the supply chain is synced with the quality standards and compliance measures. The project uses numerous physical trackers that check on every step of the chain to provide the fast and smooth delivery of the goods.
VTHO is a VIP-180 standard token that represents the cost of using the VeChainThor platform. It represents the smart contracts layer of the project and was created to facilitate the processes and transactions on the platform. The coin powers the transactions on the blockchain and is used as gas. VTHO covers the computational gas costs for all the transactions on VeChainThor.
Thanks to the bi-token model, the traders can participate in using both of them, thus diversifying their involvement. The value of the VTHO coin is not related to the value of VET.
At the same time, the VTHO token is derived from the VET coin. To process any transaction on the VeChainThor network for every VET coin added to the block a part of VTHO is being created.
VeThor Token Live Price Chart
After the bull rally of the crypto market in spring 2021 that made the VTHO token reach $0.025 its chart started to decline. After losing 40% of its price and dropping to $0.014 by the end of April, the asset recovered to $0.019, tried to sustain that level, but continued to fall.
Till the middle of July, the token was in a downtrend, reaching its minimum of $0.0043 on July 20. Only when the market started to flip, the VTHO went for a price recovery. 3 weeks later the token was trading for $0.015. In the next few days, the price was corrected to $0.013 and went on a downtrend that lasted till the end of September.
When most of the assets on the market were going up, the VTHO coin fell to $0.0075 on September 28, but then rose up, maintaining the price level around $0.0095 till the end of October. During the first week of November, the token went up to $0.011, and then the VTHO chart started to decline.
The downtrend lasted till the end of March. At the end of December VTHO showed signs of price recovery and jumped from $0.0054 to $0.0076, but couldn’t sustain this price. From the end of January till the end of March the asset was more stable, stabilizing at around $0.0034.
The crypto market started to flip bullish again and the VTHO coin also went up, reaching $0.0053 on March 30. It was followed by a market correction, though the asset didn’t get back to a downtrend and sustained around the level of $0.0043. The experts think the asset might get back to the December level price when it was traded at around $0.0055. There is also a possibility for the price to dip more if the crypto winter continues.