After the carnage that left LUNA and UST hanging on for survival, VeChain made their enticing offer to Terra LUNA developers: a $30K grant to migrate their Layer1 chains to VeChain. Additionally, the post also describes VeChain as a rapidly growing enterprise-grade public blockchain with 100% uptime.
VeChain Foundation’s grant covers a wide range of topics that include ‘application development, tools & infrastructure, and blockchain-related research.’Each stand-alone project has an allowance of up to $30K with a possible 50% bonus for Economic X Node. We will see in the coming days the effect of this social media ploy, and whether it will increase investors’ interest in VeChain.
The incoming upgrade has already increased bullishness around VeChain and led to gains as soon as it was announced; investors are also keen to learn where the network might go from here. One criticism of the “vulture-like offer to Terra” could indeed boomerang: Some users are beginning to doubt whether the VeChain platform has a development structure as it went to extra lengths to encourage Terra developers to join the company.
Today’s VeChain price is $0.023747, with a 24-hour trading volume of $81,304,429. VeChain is up 0.06% in the last 24 hours. The current CoinMarketCap ranking is #32, with a live market cap of $1,721,905,880. It has a circulating supply of 72,511,146,418 VET coins and a max. supply of 86,712,634,466 VET coins
What is VeChain?
VeChain is a blockchain-based company for creating efficiencies across supply-chain management and logistic processes. The blockchain implements distributed ledger technology (DLT) to deploy bright, complex supply-chain solutions.
Sunny Lui founded VeChain and the VeChain Coin as a robust solution for deploying a decentralized infrastructure of data management applications and the Internet of Things. The founder wanted to solve a highly fraudulent supply-chain industry and resolve economic issues.
Vechain’s applications keep growing, and the project’s scope has broadened. Vechain blockchain features two tokens that are distinct at large and serve different purposes. The Vechain Token (VET) and the VeChainThor Energy (VTHO).
- VTHO is the energy or gas for driving smart contract transactions
- VET is the native token (or digital currency) for transferring value across the network
Vechain was founded in July 2017 and incorporated in Singapore. The VeChain Foundation manages the project. Before its inception and back in 2015, Vechain was only a project idea for tracking luxury goods to prevent counterfeits.
VeChain, an Asian project, is extending its IoT and supply chain-oriented platform through the development of the VeChain Thor blockchain. The platform’s main objective is to become an enterprise-driven blockchain ecosystem whose primary focus is the governance and usability of smart contract services.
Today, the project conducts business around managing enterprise information across diverse companies.
This information is crucial for product verification, supply-chain transparency, and transfer of value and trust across its network.
The following are critical features of the Vechain blockchain that highly influence the Vechain price forecast:
- Vechain is an enterprise-based blockchain that intermediates data through the Internet of Things (IoT) and provides transparent information about organizations, products, and services.
- Vechain has a vision of leading the next generation of Initial Exchange Offerings (IEOs) and Initial Coin Offerings (ICOs) by taking advantage of smart devices on the Internet of Things.
- Vechain blockchain has two tokens, its gas VTHO, and its native token VET.
VeChain Structural Developments
An upgrade called Surface will see the network build up security measures and adaptive tools. It will do this with the implementation of a consensus reached PoA2.0.
An alternative to algorithms like Proof-of-Work (PoW) or Proof-of-Stake (PoS), PoA2.0 will finalize transactions securely, thanks to a three-pronged validation approach combining computer-generated randomness, committee-based blockchain production, and a passive block confirmation process.
These seemingly complicated components allow for a more secure and final blockchain that no one can manipulate.
VET, the native coin of VeChain, is up 10% today as investors become bullish on the upgrade prospects; the coin now rests at a value of over 12 cents. But where might the crypto be heading in the future, given the upgrade passes and sees implementation? Let’s take a look at some VeChain price predictions and see what analysts are thinking.
Understanding VeChain and VET Coin
Vechain intends to use blockchain technology to create a trust-free and decentralized business ecosystem that favors the transparent flow of data, high-speed value transfer, and efficient collaboration across business processes.
Technology firms have normalized compartmentalizing businesses on the supply chain data into silos. These silos cater to multiple stakeholders. As a result, this affects the flow of information divided among participants. Some use applications of the VeChain platform are the following:
- VeChain’s whitepaper suggests blockchain technology should allow ownership of data to empower both ends of a transaction. And therefore, break the asymmetric information problem.
- The blockchain effectively deploys information about products, business processes, storage, organizations, and transportation. This eventually creates greater market transparency and makes it convenient for market participants to transact.
- The VeChain blockchain is used across diverse industries to track quality, storage data, temperature, authenticity, last-mile delivery, and transport medium logistics. It achieves this through implementing Radio Frequency Identification (RFID) sensors and tags. Authorized Supply chain participants can access these pieces of information anywhere and in real-time.
- VeChain allows product manufacturers and merchants can constantly track and monitor all parameters with sensors and tagging.
- The sensors ensure that product manufacturers and merchants can constantly track and monitor all parameters from manufacturing and packaging to delivery.
- If a problem is encountered along the way, the blockchain communicates back to an authorized person.
Both VeChain (VET) and VTHO are run on the VeChain Thor Blockchain platform. Both means of value transfer are decentralized and can be used by decentralized applications already hosted on the VeChain blockchain.
VeChain seems to have borrowed its dual token idea from Ethereum‘s Ethereum (ETH) and NEO gas. However, unlike Ethereum’s lack of predictability when estimating transaction fees, VeChain builds upon a predictable economic model for simplifying decentralized finance.
What can you do with VeChain?
- Enterprises – The blockchain has already built a support infrastructure to help the growth of enterprises by bootstrapping underlying technology, utilities, and services.
- Community – The blockchain supports community developers and blockchain programmers to kickstart their projects on the ecosystem and bring about diversity across the platform.
- Institutional Partners/regulators – to support its mission of helping startups, incubation partners, and venture capitalists bring in their input regarding expertise, resources, and capital.
The transaction token on the blockchain is the VET utility token. This design is highly in favor of businesses dealing with large volumes of settlements. However, the following are different ways your business can adopt Vechain in its ecosystem.
Food and Beverage Businesses
- Owners of food and beverage enterprises can use Vechain’s ecosystem to transact transparently.
- The blockchain allows them to scan QR codes on their preferred products and the system automatically provides consumers with desired information about the product.
- Such information includes geographical location, inspection reports, dates, ingredients, source of ingredients, and cryptographic data.
- As a result, a brand will improve transparency on its supply chain to reduce costs for third-party verification and collaborate with other participants such as insurance firms and financing institutions.
- Vechain’s blockchain has put various systems to help startups bootstrap growth from scratch.
- Startup founders will find tools for technical documentation and acquire direct support from Veechain’s support team.
Digital Vehicle Management
- Uber sparked a fleet of vehicle management companies. Vechain provides users with an effective digital vehicle passport solution that stores and secures crucial data along the lifetime of an automobile.
- Financial institutions, vehicle manufacturers, insurance providers, vehicle repair enterprises, and technical experts can use the Vechain blockchain for the authorized sharing of data.
- This will make information about ownership, servicing history, and usage more transparent across the automobile industry.
Luxury Product Manufacturers
- VeChain creates unique identity links between their brands and their physical products.
- Luxury product brands compete for market attention by creating high-value product designs.
- Brands can now use VeChain to establish a unique identity link between their brands and their physical products. The links are customized using smart NFC tags.
- Finally, competing brands can implement the blockchain’s product verification to boost the traceability of stolen goods across the supply chain.
VeChain Fundamental Analysis
Fundamental analysis is an excellent way to understand how the market affects prices crypto values always change. We need to look at whether a coin is overvalued or undervalued. VeChain is a promising blockchain company but why should VeChain be a part of your portfolio?
Before investing in any cryptocurrency, here are factors to consider:
- The utility of the coin – Read through the coin’s whitepaper and identify what problems it solves. Find out whether the coin has any real-world applications and can be used for transactions, smart contracts, and payments. Conduct a comparison analysis between the coin and other similar cryptocurrencies.
- Study the Team – Go through the coin’s about page and research its founders. Find out whether they are experienced, legitimate and honest. Also, check the coin’s market capitalization to establish the liquidity of the cryptocurrency.
- Demand and Supply – The utility of a coin is directly proportional to its demand. Remain aware as well that higher supply than demand might ruin the value of a coin. The supply should be fixed, and the coin should have a real-world solution to an aching problem.
- Valuation – Do not go for a coin because it costs a fraction of the dollar. Analyze the coin’s valuation, the numbers of users on its blockchain, and if the user volume is higher than the price – that’s an overpriced coin.
VeChain (VET) is a good investment because of its ascending trajectory in a market that has remained volatile, which, in turn, hinges on the coin’s solid partnerships and its prominence of the coin in the value chain.
How Does Vechain Make Money?
VeChain holders can stake or HODL their VET to earn some passive cash. Staking refers to storing cryptocurrency funds in a locked wallet.
The funds maintain the operations of the blockchain ecosystem and execution of proof of stake. They share some similarities with cryptocurrency mining since they both achieve network consensus. In turn, the blockchain rewards users for staking.
You can also HODL VeChain to generate some profits. To HODL is to store a coin until it gains more value. However, a HODLING strategy should be long-term and inclined towards increasing the asset’s value in the future.
VeChain’s economic model is an essential discussion about how Vechain makes money. It turns out that VTHO indicates the underlying costs of VeChain usage. The blockchain consumes VTHO after the ecosystem performs certain operations.
On the other hand, the Vechain (VET) functions create value transfer and build up rapid circulation and liquidity of the token across the blockchain. Furthermore, the blockchain also awards network nodes with some VET foto facilitate the network’s growth.
This easy-to-use VeThor (VTHO) stacking calculator is based on live Economic- and X-node data. Just enter your VET holding, select your node tier and click “calculate.”
Economic- and X-node holders receive a bonus VeThor (VTHO) reward from two dedicated reward pools held by the VeChain Foundation. These bonus rewards depend on all participating Economic- and X-nodes, their node tiers, and all eligible participants’ overall VeChain (VET) holding.
VeChain Stats show how the VeChain Ecosystem is stabilized.
Note that the nodes are never part of VeChain’s economic model but only a means of boosting and stabilizing the VeChain ecosystem. Finally, VeChain’s whitepaper suggests the blockchain automatically generates VTHO through holding VET tokens.
Therefore when a user holds onto some VET, the blockchain will award them VTHO.
The VTHO can be used as a medium of value transfer, traded, or implemented when running decentralized applications hosted on the Thor blockchain. Also, VET can be traded against other currencies on any cryptocurrency exchange.
Does VeChain (VET) have a bright future?
VeChain’s token valuation is directly proportional to the cost of using the blockchain. However, usage of the blockchain depends on whether a user is carrying smart contract transactions or payment transactions. Again, VeChain (VET) value goes up as usage of the blockchain rises. Furthermore, and as earlier mentioned, the platform supports those who hold VET by enabling them to conduct VET transactions at no cost. This is because having VET guarantees the user some free VTHO. VeChain has a future and is probably a good investment for the following reasons:
- It looks beyond the supply chain market
As mentioned earlier, the VeChain project focuses on bringing traceability and transparency to the supply chain industry. However, the project is tapping into other areas, such as competing with Ethereum for a decentralized application platform.
- Benefits from strong foundation support
The VeChain foundation supports the VeChain project and handles all development activities, growth and research. The foundation also networks and builds partnership capacity on behalf of the blockchain.
- Has solid partnerships
We mentioned earlier the kinds of partnerships that VeChain has already signed.
The blockchain is already helping reputable enterprises track goods, employ traceability and create efficient supply chains. BMW, Bayer, PwC, GL, DHL, and DNGV.
These partnerships prove the blockchain project is here for the long term and is meant to build more icebreaking solutions.
- Reputable team
The blockchain is backed up and managed by a reputable team of developers and sales professionals. This enables them to deliver high-end products for use in the real world.
- Academic backing from Oxford University
VeChain is in a partnership with Oxford University’s Department of Technology Research. The partnership is meant to boost the development of the blockchain’s architecture.
Oxford University is researching new ways of building proof mechanisms and smart contracts for VeChain.
With such a collaboration with a reputable university and backing from reputable firms, more businesses will implement VeChain’s smart solutions.
- VeChain is a Fresh Project in Progress
Most people and businesses are usually inclined towards bootstrapping along with a fast-growing technology. VeChain is a project in progress that could attract more firms and partnerships. This is mainly because it’s easy to tweak and implement a project in progress, which helps it become even better, robust, and dependable.
Latest partnership with UFC
VeChain joins the likes of Crypto.com, Dapper Labs, and Socios as blockchain companies that do business with the UFC. The sports world is becoming quite the spotlight for companies using blockchain, and UFC is no exception. The new deal with Vechain is a multi-year deal that is valued at $100 million.
The partnership entails agreements to display the Vechain logo at the UFC events in the Octagon, on the apparel fighters’ wear, and in content distributed on UFC social media accounts and other digital platforms. It will lead to original content distributed by the UFC like the Vechian presence and the company will gain ownership of the UFC fighter rankings shown at live events.
VeChain Price History
We have already seen VeChain’s (VET) value increase with the usage of Vechain’s blockchain in April and May.
This means high adoption of the blockchain by businesses is tied with increased blockchain usage, which directly correlates with the value of the VeChain token. To analyze the forecast of VET’s direction, let’s look at partnerships the ecosystem has already forged.
VeChain partnered with BMW to deploy a card verification system. However, the car verification platform only continues the Vechain-BMW partnership called the Startup Garage.
In 2018, VeChain entered into a partnership with supply chain management company DHL to build smart blockchain solutions for the logistics industry.
Another partnership was between VeChain and PriceWaterhouseCoopers (PWC) to deploy VET as a token for processing various transactions and tracking costs through the supply chain.
Such partnerships and other notable ones like DNV and GL translate to a rapidly growing blockchain ecosystem. VeChain and its VET token will deploy decentralized financial services, applications, and smart contracts across various industries.
VET price prediction Source: TradingView
Vechain Technical Analysis
The William Alligator trend lines indicate a price drop from April, with the downward momentum dropping in the last two weeks; the MACD histograms indicate little market price action with little price volumes. The VET relative strength index shows no sign of a price reversal.
Vechain Predictions by Authority Sites
WalletInvestor uses machine learning and AI algorithms to predict Vechain prices. They rank the VET historical data index ‘A+’ and suggest it would make a ‘bad’ long-term investment. The algorithm suggests a tremendous drop of 91.42% in one year, reaching about $0.002024. The drop, however, is debatable; Wallet investor advises that investors should not use the forecast provided to base investment decisions and do not guarantee any profit from their analysis. VET will be bearish in the coming two weeks, with its price falling from $0.0235 to $0.0234. VET’s return on investment in 2026 will be -97.54%.
The site uses linear and polynomial regressions on past data to provide Vechain price predictions. VET’s price will rise to $0.0345017 in August. It will then fall for the remaining months. In December, Vechain will be selling at $0.0327536. In 2023, Vechain will trade at an average price of $0.0320673 in January and $0.0355524 in December; in 2024, Vechain will trade at an average price of $0.0368085 in January and $0.0471143 in December. In 2025, Vechain will trade at an average price of $0.0478729 in January and $0.0548697 in December.
The value of Vechain has plummeted this year. The bear condition of the crypto market has only worsened the Vechain situation. Vechain will trade at $0.0336 in August. It will trade between $0.0313 and $0.0352 for the remainder of the year; Vechain will be on a rising trend for the entire period between 2023 and 2031. Vechain’s average price in 2025 will be $0.0473, its minimum price will be $0.0408, and its maximum price will be $0.0537. Vechain’s average price in 2030 will be $0.11, its minimum price will be $0.10, and the maximum price will be $0.11.
Vechain Price Prediction 2022
VET’s price prediction for 2022 is $0.037. Vechain has dropped by 60% in this year’s bear market; last month, Vechain secured a deal with UK firm [email protected] for supply chain management. Vechain committed $10M for initial transactions securing the spot from a private firm. As the crypto market recovers, Vechain is expected to follow suit.
Vechain Price Prediction 2023
VET price prediction for 2023 is $0.053. Vechain is providing utility to large enterprises. Its applications include food safety, luxury goods, alcohol, consumer goods, carbon footprint, and automotive, and the list keeps growing as enterprises adopt blockchain systems. Vechain will trade between a minimum price of $0.051 and a maximum price of $0.063.
Vechain Price Prediction 2024
VET price prediction for 2024 is $0.073. The Vechain blockchain is battle tested and easy to depo. It offers turnkey solutions, including hardware and software, ensuring quick implementation for developers and enterprises. Vechain will trade between a minimum price of $0.070 and a maximum price of $0.088.
Vechain Price Prediction 2025
VET price prediction for 2025 is $0.1. The Vechain network provides a partner network that includes businesses and techpreneurs with commitments to blockchain innovation and adoption, creating exponential value for all network participants. Vechain will trade between a minimum price of $0.12 and a maximum price of $0.10.
Vechain Price Prediction 2026
VET price prediction for 2026 is $0.15. Vechain has big enterprise partners proving its accurate word use cases. Vechaun partners include BMW, DIG, Bayer, Copper Dog, ENN, Fuji tea, Grant, Norway in a box, Producers market, Thornton, Trusted food, and Walmart. Vechain will trade between a minimum price of $0.15 and a maximum price of $0.18.
Vechain Price Prediction 2027
VET price prediction for 2027 is $0.22. Vechain toolchain is Dapp built on Vechain that facilitates transparency, product legacy insight, creating value for brands, consumers, and supply chain participants. The tool gives VET an edge against competitors. Vechain will trade between a minimum price of $0.21 and a maximum price of $0.25.
Vechain Price Prediction 2028
VET price prediction for 2028 is $0.33. At this pace, Vechain will take six years to reach its previous all-time high of $0.2782 set on 17 April 2021. The growing number of enterprise partners will enable the milestone. Vechain will trade between a minimum price of $0.32 and a maximum price of $0.37.
Vechain Price Prediction 2029
VET price prediction for 2029 is $0.47. Vechain has been in the field since 2015. The platform prides on a professional team with offices in Europe, China, the US, Singapore, and Japan. The experience gives investors and financial institutions confidence for interaction with the mainnet; Vechain will trade between a minimum price of $0.46 and a maximum price of $0.55.
Vechain Price Prediction 2030
VET price prediction for 2030 is $0.66. The Vechain platform provides comprehensive resources to study and build on the Vechain blockchain. The resources include a boot camp, research, bounty programs, Insight, and development information. Vechain will trade between a minimum price of $0.64 and a maximum price of $0.79.
Vechain Price Prediction 2031
VET price prediction for 2031 is $0.95. At the end of the decade, VET will reach the $1 target. However, the target will depend on future regulations, innovations, and competition in the Vechain ecosystem. Vechain will trade between a minimum price of $0.93 and a maximum price of $1.1.
Vechain Price Predictions by Industry Influencers
Unison Finance Youtube channel provides Vechain price prediction noting price correlation with Bitcoin and the stock market.
Massive 5x increase in price in 90 days – this was 3 months ago.
0:00 Vechain Price Prediction 2022. 0:55 Vechain Tokenomics Explained. 1:37 Trending Crypto Lunar Crush. 2:16 Vechain Upcoming Events 2022. 2:43 Vechain Return On Investment Messari. 3:14 Vechain Price Prediction today Coin Codex. 3:45 Vechain Trade Analysis. 4:45 Vet Price Prediction 2022. 5:55 Vechain Price Predictions. 6:15 Vechain Ryan Matta Outro.
VeChain has already developed a working and practical blockchain solution for supply chain management. The practical solutions have already attracted partners from various industries to join the bandwagon. Such sectors include manufacturing, luxury goods, and automobiles, among others. Health facilities can use Vechain to track medicines and the anti-counterfeiting mechanism effectively wipes out the black market trade of medicines.
Vechain also has a strong team behind it. The rest of the team also has a solid background and track record in information technology. There is no telling where Vechain is headed, but we can look at the stars for now. The currency has a good standing for investing, holding, and solving real-world applications.
The above-mentioned VeChain price predictions suggest that the coin has a bright future and is expected to show consistent positive growth in the next few years. However, it is important to note that the cryptocurrency market is highly volatile, and any adverse development could lead to a sharp decline in prices.
The most recent development is a partnership that saw the VET network become the official Layer 1 #blockchain partner of @ufc in a historic global marketing partnership. The partnership will help to increase the adoption of the VET blockchain by bringing it to a mainstream audience. The UFC is one of the most popular global sports brands, with a fan base of over 300 million people.
The Vechain ecosystem is used today by big enterprises with a dedicated team of developers and networks committed to the WEB3. Vechain use cases set it apart from its competitors and popular meme coins, giving it the green light for long-term sustainability.
Vechain has been affected by winter’s crypto market despite the use cases, dropping 60% from the year’s opening price. However, Vechain shows signs of price recovery and will be profitable in the next bull run.