VeChain Price Prediction 2024-2030

VeChain is an enterprise-grade Level-1 smart contract platform. It was initially launched in 2015 to improve supply chain management and business processes. Currently, the project focuses on using the Internet of Things (IoT) and blockchain technologies to solve major hurdles for various global industries. The platform transitioned to public blockchain in 2017 and launched its own mainnet in 2018. VeChain uses two tokens on its VeChainThor blockchain: VET and VTHO. This article focuses on the former and provides a VET price prediction for the coming years.

What Is VeChain (VET)?

VET is the native cryptocurrency of the VeChainThor blockchain. This blockchain aims to help enterprises develop decentralized applications (DApps) for the Internet of Things (IoT). According to the VeChain whitepaper 2.0, “VeChain believes that blockchain technology is one of the foundations for the next generation of information technology, alongside emerging technologies such as AR, VR, AI, IoT, 5G, and more.” VET is primarily used to convey value on the VeChain platform.

VeChain (VET) Overview

As of June 30, 2023, VET was the 37th most valuable cryptocurrency by market capitalization, according to CoinMarketCap. The table below summarizes other relevant data for the same date.

VeChain Price Analysis

VET hit the open market in August 2018 at an opening price of $0.015. For the remainder of 2018 after its launch, VET traded at around $0.01. For most of 2019 and 2020, the VET price stayed below $0.01. On August 17, 2020, VET traded at $0.02. However, this coin ended that year at nearly $0.019.

Like many other cryptocurrencies, VET experienced a rapid appreciation in 2021. Since the first days of January, the VET price exploded. On January 18, VET traded at $0.03; on March 26, the VET price had tripled to $0.09. This bullish run took the VET price to its all-time high at nearly $0.28 on April 17. However, the price plummeted in the following months. VET traded a little over $0.06 on July 19. Despite some fluctuations, the VET coin ended 2021 at around $0.05.

In 2022, VET showed signs of recovery when it climbed to $0.08 on April 1. However, it was a short-lived price hike. The crypto winter began, sending the VET price below the $0.03 mark in the following months. It ultimately ended 2022 at around $0.015. In 2023, VET has had insignificant price movements. As of June 30, 2023, VET traded at approximately $0.02.

VeChain (VET) Price Prediction

VeChain (VET) Price Prediction 2025

In 2025, the VET price will continue to expand. PricePrediction expects this coin to trade at an average of $0.05, possibly climbing to a maximum of $0.06. BitcoinWisdom predicts an average and maximum price of $0.065 and $0.07, respectively. For its part, DigitalCoinPrice forecasts an average VET price of $0.071, which could reach $0.073.  Hence, your VET investment at the current $0.02 could grow by +265% in 2025.

VeChain (VET) Price Prediction 2030

Long-term price predictions for VET significantly differ between sources. BitcoinWisdom predicts an average VET price of $0.16 in 2030, with a potential maximum of $0.17. For its part, DigitalCoinPrice expects this coin to trade at $0.2 on average in 2030. PricePrediction is significantly more optimistic, forecasting an average price of $0.33 and a maximum of $0.38 in 2030. Accordingly, VET will hit a new all-time high in that year. So, your VET investment at the current trading price of $0.02 could grow by +1,800% in 2030.

Conclusion

Initially launched as a platform to boost supply chain management and streamline business processes, VeChain has evolved to become an enterprise-focused, multi-coin IoT and supply chain management ecosystem. This platform has established a substantial customer base comprising over 30 big companies. The use of blockchain technology to address some of the IoT problems has been proven successful. VeChain is a promising project, powering a network with significant growth potential. As such, VET could experience considerable appreciation in the coming years.

FAQs

Is VeChain (VET) a good investment?

It might be. This cryptocurrency had an excellent performance in 2021. However, it lost a lot of value during the crypto winter of 2022. As of today, VET has not recovered yet from such a significant fall. However, price predictions indicate VET price will increase in the coming year, setting a new price high toward the end of this decade. As with any other cryptocurrency, you must thoroughly research this asset before investing.

Can VeChain (VET) reach $1?

Yes, although it may not happen soon. PricePrediction expects VET to reach a maximum price of $0.81 in 2032. Hence, VET could reach $1 in ten years.

Where can I buy VeChain (VET)?

Several exchanges list VET for trading. However, the best option to buy this coin and competitive rates without hassle is LetsExchange.io.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.