While most traders would be very familiar with the older cryptocurrencies like Bitcoin, Ethereum, and Ripple, relatively new cryptocurrencies like the VeThor Token (VTHO) are also catching traders’ attention. Most crypto fanciers consider VeThor an “offshoot coin” to the “wildly successful” VeChain network.
The VTHO token is paid as a form of a dividend to every holder of VET tokens, the native currency of the VeChain ecosystem. That said, we will look into the potential of VTHO if it’s worth owning today. VeThor price prediction is in close connection with the VeChain price prediction.
Today’s VeThor Token price is $0.001344 with a 24-hour trading volume of $4,123,647. VeThor Token is down 8.50% in the last 24 hours. The current CoinMarketCap ranking is #297, with a live market cap of $61,312,447. It has a circulating supply of 45,630,180,356 VTHO coins, and the maximum supply is not available.
Let’s know more about the blockchain network and how you can profit from the VeThor Token (VTHO) before diving deep into the VTHO price prediction.
What is VeThor Token (VTHO)?
VeThor Token (VTHO) is one of the two native cryptocurrencies of the VeChainThor blockchain network. Like its partner cryptocurrency, the VET coin, VTHO can be stored in hot and cold wallets that allow ERC-20 tokens, including Ethereum (ETH).
VeChain was launched in 2015, and at the time, there was only one native digital coin by the name VeChain Token (VET) used in the VeChain ecosystem.
After the rebranding, VeChain maintained VET to be the primary value-transfer Token; in contrast, the newly introduced token, the VeThor Token (VTHO), was adopted as the Token for paying to use the VehainThor blockchain by facilitating transactions and processes and the use smart contract deployment.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|VTHO||$ 0.001704||$ 87.01 M||6.32%||50.52 B||$ 2.26 M|
What is the VeChainThor blockchain network?
VeChainThor is a public blockchain that allows members to participate by solving real-world problems. It was founded in 2015 under the name VeChain before being rebranded to VeChainThor in 2018.
Sunny Lu established the blockchain as a subsidiary of Bitse, one of the largest blockchain companies in China. However, Sunny Lu later parted ways with Bitse, and the Vechain platform stood independently.
The VeChainThor blockchain uses a proof-of-authority (PoA) consensus mechanism, which depends on authority controller nodes selected by the VeChainThor foundation to validate transactions and add blocks to the blockchain.
The PoA mechanism enables VeChainThor to process transactions at record processing speeds. The blockchain also has an open-source design that allows blockchain technology developers to pool their efforts to upgrade the blockchain.
VeChainThor also has meta-description features that allow users to conduct multi-party transactions involving multiple tasks. The blockchain also allows smart contracts, which are executed using the VTHO.
Why is VeThor Token (VTHO) unique?
The VeThor Token price is not directly related to the VeChain price. And just like the VET, it is a VIP-180 Standard token, meaning it is a unique ERC20 token.
The dual-token design on the VeChainThor enables users to trade using two tokens, thus diversifying their investment portfolios. However, this does not mean that if you want to purchase the VeThor Token, you will have to buy the VeChain Token; you can buy one and leave out the other if you so wish.
But if you choose to invest in both, you will have to look at the VeThor token price forecast to keep up with the VET price as you also look at the VeThor token price prediction to keep up with the VTHO price.
The two-token system further helps separate the cost of using the VeChainThor blockchain from market speculation.
The governance mechanism stabilizes the cost of using the blockchain by destroying 70% of the VTHO paid for validating transactions on the blockchain and warding the 30% to the Authority Masternode Operator chosen by the VeChainThor foundation.
The most exciting part is that the supply chain of VeThor Token is actively tied to the VET. The VTHO is derived from the VET token. About 0.00000005VTHO is generated per VET for every block that is validated. This, in connection with the destruction of the 70% of the VTHO that is destroyed, keeps the circulating supply of VTHO at a low level at all times, which in turn keeps the demand of the token high.
In comparison to about 64 billion VET tokens currently in circulating supply, there are only about 38 billion VTHO tokens in circulation.
Where to buy VeThor Token (VTHO)
To buy VTHO, you will require to open an account with any of these cryptocurrency exchanges, transfer ETH, BTC, or any other digital currency or fiat currency that the exchange allows, then perform a buy transaction to buy VeThor Token using the currency you deposited with the exchange, and then transfer the purchased VTHO tokens to a private crypto wallet or let them remain in the exchange wallet for trading.
History of VeThor Token Price Predictions
After VeChain was rebranded to VeChainThor in July 2018 and the VeThor Token (VTHO) was introduced, the bulls went ahead to register an imposing price movement to hit the highest Vethor token price of $0.04201 on August 01 the same year. However, the trend was short-lived since it quickly became a bearish trend the day after.
The bearish trend continued until October 2018. The Token’s market price seemed to stabilize at about $0.0005 until January this year, when some considerable bullish market movement drove the Token’s price to $0.0246 on April 16
But the trend has since taken on another bearish trend, and it is currently trading at $0.01088, which is 74.14% down from it’s all-time high three years ago.
Despite the bearish market resulting in the drop in the market cap, the trading volume of the cryptocurrency continues to increase every day.
It is important to note that the price of the VeThor Token correlates with the VeChain price all along. If you look at the VeChain price chart, you shall realize that the charts seem to resemble each other, with the only difference being that the Vechain price is higher than that of the VTHO. The VeChain price is currently at $0.01088.
Due to this correlation, it would also be essential to look at the VeChain price prediction as a trader goes through this price prediction of VTHO. since the two tokens have maintained a close correlation for over two years, that may continue; meaning VeChain price prediction would also offer an insight into the price prediction of VHTO.
VeThor (VTHO) Technical Analysis
VeThor price analysis displays partial bearish movement in the market, and the market moves towards a somewhat upward direction, raising the price of VTHO. On June 16, 2022, VTHO/USD gained further momentum and obtained a further increasing movement the following day.
Today, on June 17, 2022, the price has been experiencing a strong uptrend, causing the price of VTHO to move over the $0.0014 mark with a current price of $0.0015. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. VeThor 4-hour price analysis revealed the market is following a bullish trend. However, the market volatility decreases, forcing the resistance and the support to move towards each other, making the cryptocurrency’s price less prone to volatility fluctuations.
The VTHO/USD price appears to be crossing over the Moving Average curve, making the market bullish. Therefore, the market shows immense consistent opportunities and possibly favors the bulls. However, the price is expected to shift toward a downward movement under the moving average curve, causing a possible breakout in the market.
VeThor 24-hours price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow an upward trend, making VeThor’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.0022, which serves as the strongest resistance for VTHO. Conversely, the lower limit of the Bollinger’s band exists at $0.0014, which acts as the strongest support point for VTHO.
The VTHO/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to indicate future upward activity, showing a constantly increasing market. As a result, the price attempts to cross the moving average curve, which will cause a reversal in the market.
VTHO price analysis reveals the Relative Strength Index (RSI) score of 31, signifying a severely undervalued cryptocurrency. Furthermore, the RSI falls under the devaluation threshold. Therefore, following an upward approach signals increasing characteristics and represents the dominance of buying activity.
VTHO Price Predictions by Authority Sites
CoinQuora anticipates a bullish VTHO price prediction, predicting that it will ultimately break the $1 barrier. According to the site’s VeThor Token price forecast for 2022, VTHO might hit $0.016222 by the year’s conclusion. With impending collaborations and innovations, hitting $0.02 is a bit of a stretch in terms of pricing, but it’s certainly doable in the near future. CoinQuora’s VeThor Token price projection for 2025 is considerably more bullish, with a price of $2.00 predicted.
WalletInvestor predicts a “poor” long-term outlook for the coin, predicting that it would reach $0.000284 by the end of the year and not recover much.
Digital Coin Price
The VeThor VTHO price prediction from DigitalCoin is less optimistic. By 2025, it is predicted that the price will just be $0.00891. VeThor Token is expected to be worth $0.0185 in 2030, according to DigitalCoin.
VTHO Price Prediction 2022
The price of VeThor Token is expected to reach a minimum price value of $0.002 in 2022. With an average trading price of $0.002, the VTHO price may reach a maximum value of $0.002.
VTHO Price Prediction 2023
In 2023, the price of VeThor Token is expected to drop to a minimum of $0.003. Throughout 2023, the VeThor Token price can reach a high of $0.003, with an average price of $0.003.
VTHO Price Prediction 2024
The price of VeThor Token is expected to reach a minimum of $0.004 in 2024. With an average trading price of $0.004, the VTHO price may reach a maximum of $0.005.
VTHO Price Prediction 2025
In 2025, the price of one VeThor Token is predicted to reach a minimum of $0.006. Throughout 2025, the VTHO price might reach a high of $0.008, with an average price of $0.006.
VTHO Price Prediction 2026
In 2026, the VeThor Token is expected to hit its lowest point of $0.009. According to our results, the VTHO price might hit a high of $0.011 with an average expected price of $0.009.
VTHO Price Prediction 2027
The price of VeThor Token is expected to be about $0.013 in 2027. The VeThor Token price ranges from $0.015 to $0.015 in USD, with an average trading value of $0.013 in USD.
VTHO Price Prediction 2028
In 2028, the price of VeThor Token is expected to reach a minimum of $0.018. Throughout 2028, the VeThor Token price might reach a maximum of $0.022, with an average selling price of $0.019 per token.
VTHO Price Prediction 2029
The price of VeThor Token is predicted to reach $0.025, at the very least, in 2029. With an average price of $0.026 and a maximum price of $0.031, the VTHO price can reach a maximum of $0.031.
VTHO Price Prediction 2030
The VTHO price is predicted to cross an average price level of $0.039 in 2030, with a minimum cost of $0.038 expected by the end of the current year. Furthermore, VTHO has the potential to achieve a maximum price of $0.044.
VTHO Price Prediction 2031
The VTHO price is predicted to cross an average price level of $0.058 in 2031, with a minimum price of $0.056 expected before the end of the current year. Furthermore, VTHO has a maximum price of $0.064.
VeThor Token is a non-minable cryptocurrency that doesn’t need miners to validate transactions or generate blocks. Instead of using a Proof of Stake mechanism, VeThor Token uses Proof of Authority to guarantee network security and confirm actions.
VeThor Token has exploded in value in 2021, surpassing $0.01 for the first time since its inception in 2018. However, the price of the currency has now dropped to $0.00258. Because cryptocurrencies are so unpredictable, you should never put more money into them than you can afford to lose.
The VeThor Token has shown pricing potential, and the blockchain has attracted significant names. However, since the end of April, the token has been on a negative trend. The coin is expected to climb according to most algorithmic price projections, although the rate differs depending on who you ask. Always conduct your own research prior to making an investment.