The VeChain, or VET cryptocurrency, is the VeChainThor blockchain’s native token. The chain, which seeks to assist businesses in developing dApps (blockchain-based software applications) that work with the Internet of Things, has recently received a lot of coverage.
But, what does the crypto’s future hold? Is it possible to forecast the price of the VET coin? These are the questions that will be addressed in this post.
Before we do that, it’s a good idea to review the cryptocurrency’s recent price history. While past performance is no guarantee of future results, understanding how a token has performed thus far, as well as how it has reacted to particular market events, can help with VeChain price predictions.
Whitepaper on VeChain
“VeChain thinks that blockchain technology, among developing technologies such as AR, VR, AI, IoT, 5G, and more, is one of the foundations for the next generation of information technology,” according to the VeChain whitepaper 2.0.
“Blockchain, as an infrastructural technology, is uniquely positioned to enable unprecedented value and data-transfer among a wide range of users in a trust-less manner, boosting the efficiency and authenticity of information transfer itself, thanks to the technology’s immutable and tamper-proof characteristics.”
“From the outset, VeChain’s aim of lowering the barrier to entry and enabling existing businesses to use blockchain technology to create value and solve real-world economic challenges was evident to us.”
The early years of VeChain’s price history
There was little movement or growth in the first several years of VET’s existence and availability on the open market. During the summer and autumn of 2018, it fluctuated at $0.01 before going below the cent threshold, where it remained for the next few years.
In the summer of 2020, it re-broke past the cent threshold, hovering around that level for the next few months — sometimes higher, sometimes lower.
However, at the end of the year, it was flirting with $0.02, and it completed the year at $0.01878.
VeChain is on the upswing.
The VET coin saw a period of significant growth in January 2021. It was up more than 38% from where it was on December 31, 2020 by the time it closed on January 3rd, standing at $0.02592. It has climbed another 18.7 percent to $0.03079 three days later.
Clearly, this was a good time for people to become interested in this cryptocurrency, as VeChain price estimates were smashed. However, there was some reversion from this figure, and it spent the rest of the month mostly between $0.02 and $0.03, with a monthly high of $0.03505 in intraday trading on January 21, 2021, before closing the month at $0.02542, up more than 35% from the previous month’s end but down more than 27% from the monthly high.
VET experienced considerably more growth in February 2021. The month ended with a close of $0.03966, up more than 56% from January’s close but down over 35% from the intra-month high. The VET coin price continued to rise, breaking past $0.07 on March 12th, $0.08 on March 15th, $0.09 on March 20th, and $0.09902 on March 22nd, 2021. While the month ended with a slight retreat at $0.08806, it was still up over 122 percent from the previous month’s closing, albeit being down around 11 percent from the monthly high.
VeChain hit an all-time high in April 2021, with an intraday score of $0.2782.
However, there was a reversal from this, and the month’s closing price of $0.2011 was down 27 percent from the record price, although being up just over 128 percent month-over-month.
In the year 2022, VeChain will be launched.
Despite its lows in mid-March, VeChain continued to show promise as fresh improvements for the protocol emerged.
Draper University established a partnership with VeChain on March 23rd, announcing the start of a Fellowship and Web3 accelerator program. After a slow start to the year, the crypto market began to show signs of life at the end of March. As a result, VeChain’s price increased, and by March 31, 2022, the coin was trading at a peak of $0.08906.
The rebound, however, was short-lived. Worse news arrived in May, when a market-wide meltdown drove most cryptocurrencies into freefall: VeChain’s value plummeted to $0.02412, its lowest level in over a year.
Despite announcing multiple successful partnerships, VeChain was locked in a decline over the lengthy weak market. The initiative announced a partnership with Amazon Web Services to develop the VeCarbon emission management software-as-a-service (SaaS) solution, which will aid China in meeting its 2060 carbon neutrality objective. Furthermore, on May 10, 2022, the Foundation released a new report stating that its treasury was in good shape, with over $1.2 billion in stablecoins, ETH, BTC, and VeChain’s native currency.
On June 12th, the blockchain announced a new relationship with the Ultimate Fighting Championship, a mixed martial arts organization (UFC). The token, however, plummeted to a low of $0.02233 the next day, following another market-wide crisis. It was trading at $0.02413 at the time of writing on June 14th.
Let’s have a look at some price estimates for the VET currency. It should be emphasized that future predictions are usually created using algorithms, are susceptible to change, and are frequently incorrect, but they are still useful as a starting point.
VET coin price forecast
According to WalletInvestor, the VET coin price will drop to $0.026 in a year and will continue to fall.
According to DigitalCoinPrice’s VeChain price projection, the coin might reach $0.0353 in July 2022, marking an almost 50% increase. The forecaster forecasts the coin will be worth $0.0356 in 2023, $0.0358 in 2024, and $0.0482 in 2025, with sluggish growth for the next two or three years. The coin is predicted to continue to rise year after year, reaching $0.11 in 2030.
VET Coin Price Prediction for 2025
The VET currency is expected to reach a price of $0.032 in July 2022, according to PricePrediction.net. In 2023 and 2024, the forecaster predicts an average price of $0.053 and $0.073, respectively. The VET coin is expected to be worth $0.10 in 2025.
VET Coin Price Prediction for 2030
The site’s VET coin projection for 2026 anticipates a $0.15 average, with $0.22 expected the following year. The average price projection for 2028 is $0.33, while for 2029 it is $0.47. The average VET coin price projection for 2030 is $0.66, according to the site.
