VeChain (VET) has been dubbed the “backbone” of the fourth industrial revolution. Its ecosystem aids in removing significant barriers to reliable data for various international industries, including finance, energy, food, and medicine.
An exponential rise in interest in a VeChain price prediction followed the over 15,000% increase in the native VeChain token VET last year. In this article, we go over the crucial details on how to invest in VET In 2023
What is VeChain?
VeChain is a blockchain technology that connects products to customers. It’s designed to help optimize the supply chain and other business processes.
The VeChain network has two tokens: the VeChain Token (VET token) and the VeChainThor Energy token (VTHO). The former is used to store value across the VeChain network, whereas the latter is used as “gas” to power smart contract transactions, similar to the popular Ethereum cryptocurrency.
What Drives the Price of VeChain?
Understanding the factors that influence the token’s price is necessary to provide an answer to the question of when the VeChain price prediction next bull run will take place.
Investor Sentiment
Every asset moves in response to investor supply and demand, which is influenced by overall market sentiment. In 2022, investors shifted capital away from risky assets like stocks and even the most promising cryptocurrencies and back into safe havens like the US dollar.
This was primarily due to rising interest rates worldwide, which provide investors with a higher rate of return. However, the pace of interest rate hikes is expected to slow by the end of the year, resulting in a rapid return to risk assets such as cryptos.
Identifying cryptocurrencies with high utility now may aid in determining how much VeChain will be worth in the future.
Growth in VeChain Ecosystem & Global Supply Chain
Some of the world’s largest corporations, including LVMH, BMW Group, DB Schenker, Kuehne & Nagel, Groupe Renault, BYD, and others, are already utilizing VeChain’s blockchain ecosystem.
The VeChain ecosystem is already set to grow exponentially as it helps to improve the current global supply chain, which hasn’t been updated in centuries. By 2026, it is anticipated that the worldwide supply chain market will be worth $31 billion.
The factors that increase or decrease demand for the coin are crucial to consider when projecting its future price movement, whether you’re a short-term trader looking for a VeChain price prediction next week or a long-term investor looking for a VeChain price prediction in 2025.
VeChain Price History
VeChain debuted in late 2018 but has since risen to become the 33rd largest cryptocurrency, with a market capitalization of more than $1,841,975,837. (USD). The VeChain price history, on the other hand, has been volatile.
The digital coin had a $1 launch price in 2018, but by the end of that year, it was only worth $0.03. The 2019 VET coin price prediction fluctuated little, trading between $0.01 and $0.002, but the year
ended well.
The VeChain Thor Upgrade v.1.1.2 was primarily responsible for the increase in performance. This hard fork assisted in enhancing network efficiency and correcting numerous issues.
During the pandemic in 2020, the price of VeChain fell to an all-time low of $0.001. Surprisingly, the coin displayed similar characteristics to global stock markets and has since rallied higher.
By April 2021, the price of VET had risen 15,000% to a multi-year high of $0.278 but was still not at its all-time high.
VeChain Price Prediction 2022
Like most other markets, the crypto market experienced a massive rebalancing in 2022. Most of the moves in cryptocurrency in 2022 were down to broader economic themes.
The larger macro themes at work, such as inflation and interest rates, have already been priced in. This prompted many analysts to forecast a risk rally by the end of the year. This is where fundamentally sound digital tokens, such as VeChain, could shine.
As a result, a VET price prediction for 2022 could see the coin trading at its all-time high of $0.278.
A VET/BTC price prediction may not grow as much against the US dollar over the same period. Crypto market price analysis reveals that they are highly correlated and can all move higher or lower simultaneously.
VeChain Price Prediction 2023
Many coins available for investment in the cryptocurrency market are opaque and may even be a scam. VeChain, on the other hand, is highly transparent regarding how it operates and all of the people involved in the ecosystem.
The token has a strong steering committee, advisory board, and several institutional partners to help it grow and become more widely accepted in global industries. The token’s governance should allow it to grow exponentially by the end of 2023.
As a result, a VET price prediction for 2023 could see the coin trading roughly halfway back to its launch price of $0.500.
VeChain price predictions are easy to find on crypto Reddit forums because it is one of the most actively traded cryptos, with a high level of trading volume, and many crypto enthusiasts provide forecasts. Forecasts are currently very bullish, as they were in 2018 when there were new rumors of VeChain partnering with various companies weekly.
VeChain Price Prediction 2025-2030
A VET token price prediction could grow exponentially as VeChain trades closer to its launch price. As the whole ecosystem is designed to tackle data challenges in the supply chain sector, using the token has real-world applications.
A VET price prediction for 2025 could easily see the coin trading around $1. While this is a bullish VeChain 5-year prediction, the potential exists as one of the oldest smart contract platforms.
A VET price prediction for 2030 indicates that VET may trade higher. After all, the token is already being used in global industries, from medicine to finance and energy to retail. VET price predictions will only become more accurate as digitalization and data become more important.
Bottomline
Due to market risk, cryptocurrency prices are highly erratic. Please don’t invest in anything unless you are familiar with it and understand the risks. The information in this post is not meant to be, and you shouldn’t take it that way. Before investing, you should consider your investing history, financial situation, investment goals, and risk tolerance. It would be best if you also spoke with an impartial financial advisor.
Significantly, this data is not meant to serve as financial advice. Future outcomes cannot be accurately predicted by past performance. Your investment’s value can fall and rise, and you may not get back the amount you invested. Your investment decisions are entirely your responsibility.