VeChain (VET) had several bullish sentiments in recent days, which raised the token price momentarily. There are also speculations that VET is undervalued in the present market state, amid recent bullish developments.
In June, VeChain attracted positive sentiments after the long-awaited improvement proposal VIP-220 finally went live on a private testnet. The VeChain community considers this significant progress for the network to achieve a Proof-of-Authority 2.0 consensus mechanism.
More interestingly, the popular American mixed martial arts (MMA) promotion company, Ultimate Fighting Championship (UFC), has partnered with UFC. This makes VeChain the first official blockchain partner of UFC.
VeChain’s blockchain is designed to facilitate effective supply-chain management and logistic processes. VeChain implements distributed ledger technology (DLT) to deploy bright, complex supply-chain solutions.
VeChain token is currently priced at around $0.024. VET has a market capitalization of $1.76 billion from a circulating supply of 72.51 billion. VET is down over 26% in the last 30 days and 91% from its all-time high.
VET prices will reach $0.0400 by the end of 2022, according to Wallet Investor. Long-term predictions are bullish on Vechain, and prices are expected to continue increasing in the next few years. VET is expected to reach $0.0550 by the end of 2023 and $0.0700 by the end of 2024.
Trading Beasts predicts sluggish development for VET in the next two or three years, with the coin forecasted to be valued at an average of $0.0455 in 2023, $0.0457 in 2024, and $0.0617 in 2025.
PricePrediction.net says VET coin might hit a maximum price of $0.041 in 2022. It also predicted an average price of $0.053 in 2023 and $0.073 in 2024. The VET coin price prediction for 2025 is $0.10.
VET might reach an average price of $0.037 by the end of 2022. The price might reach as high as $0.041 by the middle of 2023. However, as the market trend reverses, the price will drop to $0.036 by the end of 2022.
Long-term VeChain price predictions are bullish, with the price reaching a high of $0.12 by 2025. However, VET is expected to trade at an average of $0.10. By 2025, the VET price is projected to reduce slightly, trading at an expected market price of $0.10.
VET is expected to show positive growth and might reach as high as $0.79 by the end of 2030. The average price of VET is expected to be $0.66, while a minimum price of $0.64 is also possible.
The predictions for VeChain for the coming years look bullish. The price is expected to increase in the coming years; however, VET might not attain the $1 mark in the short term.
Please take these price predictions as suggestions of some market experts/analysts. Prediction with tools may not turn out perfect due to the unpredictability of certain factors such as public sentiment and market conditions.