VeChain is a blockchain-based platform that aims to improve supply chain management for companies and organizations. The platform VeChain (VET), originally known as VeChainThor, seeks to remove obstacles to entry and enable established businesses to apply blockchain technology’s advantages to real-world problems.
What is VeChain (VET)?
VeChain (VET) is a flexible L1 smart contract platform for enterprises. In order to investigate blockchain applications, VeChain began as a private consortium chain in 2015. The chain collaborated with various businesses. After launching the ERC-20 token VEN on the public blockchain in 2017, VeChain went on to launch its mainnet in 2018 under the ticker VET.
VeChain’s VeChainThor platform aims to reduce barriers to entry and enable existing enterprises to take advantage of blockchain technology’s potential to address real-world problems. VeChainThor stores a growing amount of business application values on its blockchain. VeChainThor’s goal is to offer technical features that are specifically designed to meet the needs of developers, users, and enterprises.
The platform has two tokens, VET and VTHO which are used to manage and produce value on its public VeChainThor blockchain. In addition to producing VTHO, VET acts as a medium for value transmission and storage. GAS expenses are covered by VTHO, freeing up VET for data writing. The additional advantage of this is that network costs can be maintained steadily by controlling factors like the quantity of VTHO needed to process a transaction or by speeding up VTHO creation. Such measures first need community votes from all stakeholders.
VeChain was co-founded by Sunny Lu. Having been established with the intention of disrupting established business models, VeChain is best recognized for its contributions to the supply chain, which has not changed much over time. Its efforts to offer a decentralized trust layer for multi-party ecosystems have already yielded notable outcomes for government agencies and high-profile clients.
As such, the VeChain platform is attractive to a wide variety of customers and enterprises. According to official VeChain documentation, the dual-token setup of the network, combined with revolutionary protocols like “fee delegation” and a one-stop “ToolChain” platform, are what make it unique. These features enable crypto-averse businesses to pay in fiat for VeChain’s Blockchain-as-a-service, while smart contracts handle gas payment costs, ensuring frictionless network use even in stringent jurisdictions.
VeChain’s (VET) proof-of-authority (PoA) token requires less computing power to maintain network security than technologies like Bitcoin.
VeChain (VET) Current Market Status
According to CoinMarketCap, the circulating supply of VeChain (VET) is 72,714,516,834 VET, while the maximum supply is 86,712,634,466 VET. VeChain is currently trading at $0.03101, a 24-hour decrease of 6.43%. VeChain’s trading volume over the last 24 hours is $55,069,154, a decline of 33.52%
Top cryptocurrency exchanges including Kucoin, Huobi Global, Coinbase Exchange, and Binance are good places to trade VeChain.
Now that you are aware of VeChain and its present state in the market, let’s talk about VeChain’s (VET) price prediction.
VeChain (VET) Price Prediction 2024
The value of VeChain could grow to $0.06. Not much resistance appears to be standing in the way of VET’s ascent if it manages to surpass $0.06. This occurs when supply and demand are out of balance, and the market simply passes the resistance levels over 0.06. Since there is more trading activity, that is not the case for VET if it swings down.
VeChain (VET) Price Prediction 2025
VeChain is predicted to trade far higher than its 2024 pricing and may feel the consequences of the Bitcoin halving. According to several trade professionals, the halving of BTC might have a significant effect on the cryptocurrency market. Furthermore, VeChain will keep growing in 2025, creating new resistance levels, comparable to many other altcoins. VeChains are anticipated to trade higher than $0.32.
VeChain (VET) Price Prediction 2026
After a protracted bull run, it is anticipated that the bears will take control and begin to negatively affect cryptocurrencies. In this gloomy mood, VeChain may fall back into its support levels. VeChain may lose steam during this price adjustment and drop much below its 2025 pricing. As a result, by 2026, it might be selling for $0.12.
VeChain (VET) Price Prediction 2027
Traders naturally anticipate a bullish market attitude after the bears’ destructive impact on the cryptocurrency business. Moreover, the build-up to the second Bitcoin halving in 2028 could inspire excitement in traders. Before the excitement in EOS is returned, there will be a price drop. As a result, by the end of 2027, we may anticipate that VeChain will trade at about $0.2.
VeChain (VET) Price Prediction 2028
VeChain might act similarly to how it did in the past during the BTC halving, as the cryptocurrency community’s optimism is reignited in anticipation of Bitcoin halving like many other altcoins. Therefore, by the end of 2028, VeChain would be trading at $0.25 after a significant increase.
VeChain (VET) Price Prediction 2029
A second bull market is anticipated in 2029 as a result of the BTC halving. Traders predict that by the end of the year, the cryptocurrency market will have stabilized considerably. By the end of 2029, VeChain might be trading at $0.52 in line with the steady sentiment of the market.
VeChain (VET) Price Prediction 2030
VeChain and many other altcoins would exhibit symptoms of consolidation after a bullish run in the market. They would trade sideways and decline for a while, with brief rises. Consequently, VeChain may trade at $0.30 by the end of 2030.
VeChain (VET) Price Prediction 2040
The long-term forecast for VeChain predicts that this altcoin could achieve a new all-time high(ATH). One of the most important times would be now when HODLERS would anticipate selling part of their coins near the ATH mark.
VeChain’s value might decrease if it begins to sell. By 2040, the average price of VeChains is predicted to be $0.87.
VeChain (VET) Price Prediction 2050
In the 2050s, the majority of people will consider and accept cryptocurrency, therefore we may expect to see a greater level of public belief in it. VeChain may therefore hit $1.34.
Is VeChain (VET) a good investment?
Vechain is a blockchain technology company that shows great promise in the market. Recent price increases have shown that VeChain Coin can shock investors with large profits. VeChain is one of the IoT/Web3 projects with the quickest rate of growth, and realistic use cases for cryptocurrencies. From a pricing perspective, buying VeChain Coin in the long run seems like a wise move.
Although the price of VET Coin appears to be rising, the price of VeChain and other cryptocurrencies is subject to sudden fluctuations. VeChain can be a fantastic option if you are a smart investor and enjoy taking risks with your investments. These days, cryptocurrencies are the riskiest investments as well as the most advantageous. Therefore, properly monitor your risks before making any investments.
Conclusion
VeChain may continue growing if investors show interest in it and include these coins in their holdings but we can’t guarantee anything as the crypto market is highly volatile.