VeChain is a Blockchain-as-a-Service platform that aims to create a “reliable distributed business ecosystem that ensures smooth information flow, efficient collaboration, and high-speed value transfer”. Several industries, including luxury goods, agriculture, logistics, food/medicines, and governments, are already using VeChain blockchain technology.
platform is aimed at interacting with all sectors of the market, such as B2B
(business-to-business), B2C (business-to-consumer):
- Manufacturers will be able to track sales channels in real time, marking each product with a unique numeric identifier.
- Consumers will be able to verify the quality and authenticity of the product and obtain all the information about it by scanning the numeric identifier using the mobile application.
The history of VeChain Thor dates back to 2015, when a team of specialists led by Sunny Lu launched a prototype of the VeChain platform on the Ethereum blockchain. In the summer of 2016, VeChain developers presented the first version, and in early autumn of the same year, a mobile application for iOS was published. In mid-August 2017, VEN tokens were sold through ICO. The price of one VEN token was $0.08, and the desired hardcap of 200,000 ETH was achieved.
months after ICO’s completion, the VeChain Foundation was established and a board
of advisors was established. At the end of June 2018, the company moved to its
own blockchain. The network was renamed VeChain Thor, and the token was named
Vechain Coin Fundamental
ecosystem consists of three levels: blockchain (network), tokens and wallet.
Until June 2018, VeChain cryptocurrency existed as a project on Ethereum blockchain, and its functionality was very limited. However, the move to its own platform opened up new opportunities. VeChain’s cryptocurrency has its own specific features that distinguish it from other blockchains.
Some criticize the VeChain Thor blockchain because it is not fully decentralized and has centralization features that prevent it from being considered a real crypto project. However, the creators explain this by the peculiarities of the project and the need to ensure network security.
addition, the need for Build-in Gouvernance tool is explained by the use of a
special algorithm to achieve consensus within the network – Proof-of-Authority
In the VeChain Thor network, the PoA algorithm is not used to confirm the presence of coins on the user’s wallet, as is the case with most blockchain coins, but to verify the product. Typically, the validators are a small group of nodes (up to 25) – in most cases, the node operators are representatives of the company that uses VeChain Thor for its business.
Vechain Technical Analysis
current situation on Vechain market? Check Vechain technical analysis from
VeChain Price Prediction 2022
According to the technical analysis of VeChain prices expected in 2022, the minimum cost of VeChain will be $0.036. The maximum level that the VET price can reach is $0.041. The average trading price is expected around $0.037.
VET Price Forecast for May 2022
Based on the price fluctuations of VeChain at the beginning of 2022, crypto experts expect the average VET rate of $0.030 in March. Its minimum and maximum prices can be expected at $0.028 and at $0.031, respectively.
June 2022: VeChain Price Forecast
Cryptocurrency experts are ready to announce their forecast for the VET price in April 2022. The minimum trading cost might be $0.030, while the maximum might reach $0.033 during this month. On average, it is expected that the value of VeChain might be around $0.031.
VET Price Forecast for July 2022
Crypto analysts have checked the price fluctuations of VeChain in 2022 and in previous years, so the average VET rate they predict might be around $0.032 in May. It can drop to $0.031 as a minimum. The maximum value might be $0.034.
August 2022: VeChain Price Forecast
In the middle of the year 2022, the VET price will be traded at $0.033 on average. June might also witness an increase in the VeChain value to $0.035. It is assumed that the price will not drop lower than $0.032 in June 2022.
VET Price Forecast for September 2022
Crypto experts have analyzed VeChain prices in 2022, so they are ready to provide their estimated trading average for July — $0.034. The lowest and peak VET rates might be $0.033 and $0.037.
October 2022: VeChain Price Forecast
Crypto analysts expect that at the end of summer 2022, the VET price will be around $0.035. In August, the VeChain cost may drop to a minimum of $0.034. The expected peak value might be $0.038 in August 2022.
VET Price Forecast for November 2022
Having analyzed VeChain prices, cryptocurrency experts expect that the VET rate might reach a maximum of $0.040 in September 2022. It might, however, drop to $0.035. For September, the forecasted average of VeChain is nearly $0.036.
December 2022: VeChain Price Forecast
In the middle of autumn 2022, the VeChain cost will be traded at the average level of $0.037. Crypto analysts expect that in October 2022, the VET price might fluctuate between $0.036 and $0.041.
VeChain Price Prediction 2023
After the analysis of the prices of VeChain in previous years, it is assumed that in 2023, the minimum price of VeChain will be around $0.051. The maximum expected VET price may be around $0.063. On average, the trading price might be $0.053 in 2023.
VeChain Price Prediction 2024
Based on the technical analysis by cryptocurrency experts regarding the prices of VeChain, in 2024, VET is expected to have the following minimum and maximum prices: about $0.070 and $0.088, respectively. The average expected trading cost is $0.073.
VeChain Price Prediction 2025
The experts in the field of cryptocurrency have analyzed the prices of VeChain and their fluctuations during the previous years. It is assumed that in 2025, the minimum VET price might drop to $0.10, while its maximum can reach $0.12. On average, the trading cost will be around $0.10.
VeChain Price Prediction 2026
Based on the analysis of the costs of VeChain by crypto experts, the following maximum and minimum VET prices are expected in 2026: $0.18 and $0.15. On average, it will be traded at $0.15.
VeChain Price Prediction 2027
Crypto experts are constantly analyzing the fluctuations of VeChain. Based on their predictions, the estimated average VET price will be around $0.22. It might drop to a minimum of $0.21, but it still might reach $0.25 throughout 2027.
VeChain Price Prediction 2028
Every year, cryptocurrency experts prepare forecasts for the price of VeChain. It is estimated that VET will be traded between $0.32 and $0.37 in 2028. Its average cost is expected at around $0.33 during the year.
VeChain Price Prediction 2029
Cryptocurrency analysts are ready to announce their estimations of the VeChain’s price. The year 2029 will be determined by the maximum VET price of $0.55. However, its rate might drop to around $0.46. So, the expected average trading price is $0.47.
VeChain Price Prediction 2030
After years of analysis of the VeChain price, crypto experts are ready to provide their VET cost estimation for 2030. It will be traded for at least $0.64, with the possible maximum peaks at $0.79. Therefore, on average, you can expect the VET price to be around $0.66 in 2030.
VeChain Price Prediction 2031
Cryptocurrency analysts are ready to announce their estimations of the VeChain’s price. The year 2031 will be determined by the maximum VET price of $1.10. However, its rate might drop to around $0.93. So, the expected average trading price is $0.95.
Thor has unique features that distinguish this cryptocurrency from many others.
Among the indisputable advantages are the following:
- A useful idea that can bring real benefit to society – the project solves one of the most pressing problems – the identification of counterfeit goods, and all you need for this – is a smartphone with an installed application.
- Use of advanced technologies – the developers have skillfully integrated into the project two most relevant technologies at the moment – blockchain and the Internet of Things.
- High security of the network – VeChain cryptocurrency is the first project to implement the Cryptocurrency Disaster Recovery Plan (CDRP) system in its blockchain.
- Possibility of network scalability – VeChain Thor network can be scaled with the help of side clean technology.
However, despite the serious advantages of VeChain cryptocurrency, it has one serious drawback. In particular the crypto community doesn’t like that the project shows signs of centralization. The consensus in the network is reached through the Proof-of-Authority algorithm, which assumes that any user cannot create a node.
Vechain is a pretty popular project, and it was on the peak of popularity in
summer 2019 when a lot of new events and partnerships took place. For example, San
Marino has signed an agreement with VeChain to leverage blockchain technology
to incentivize environmentally friendly behavior.
F.A.Q. Vechain (VET)
Is Vechain a Good Investment?
If Vechain developers will implement the roadmap, Vechain cryptocurrency can be a good investment.
How Much Vechain Should I Buy?
It depends on your possibilities. If you are ready to invest more than $1000, remember that investing in cryptocurrency is risky and crypto market is vulnerable.
Where and How to Buy Vechain (VET) Cryptocurrency?
You can easily buy Vechain cryptocurrency on Changelly for the best rates. Both fiat and crypto are accepted.
What Is Vechain Used for?
Vechain project is focused on the supply chain, smart contracts and financial services.
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The post Vechain (VET) Price Prediction 2022 – 2031 appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.