Vechain Price - CoinGape

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Circulating Supply
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Total Supply
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ABOUT Vechain

Vechain Price - All About

Vechain is a blockchain platform primarily designed to gear up the supply chain management and business processes. It aims to streamline these processes and create a seamless information flow for supply chains using distributed ledger technology (DLT). The platform has two native cryptocurrencies – VeChain (VET) and VeChainThor Energy (VTHO). The VET token is used as a transfer value in the Vechain network, while the VTHO token is used as gas for powering the transactions.

Presently, VeChain is under progress to design a blockchain-based platform that not only finds applications in the digital world but also assimilates with real business ecosystems. As a result, enterprises would now be able to handle various functions with the aid of this blockchain-based platform. From these factors, the VeChain price is maintaining grounds.

Historical VeChain Prices and Statistics

The VeChain token is ranked 26th in terms of market capitalization on CoinMarkerCap. It has a market cap of $505.67 million, with circulating and total supply standing at 55,45,47,34,800 VET and 86,71,26,34,466 VET, respectively.

The current price of VET against USD is 0.009176. It hit an all-time high of $0.019775 USD in September 2018. Two years later, in March 2020, it made an all-time to $0.001678 USD. The other high/low values (ranging from 24-hour to 52 week) are as follows:

 Day  High Low
 24 Hours  $0.009873  $0.009075
 7 Days  $0.010530  $0.006947
 30 Day   $0.010530  $0.004108
  90 Days  $0.010530  $0.002218
  52 Weeks  $0.010624  $0.001678

Historical Vechain Price Action

VeChain came to existence in June 2015 but was available to buy and sell through exchanges from September 2018.

Since the launch of VeChain for trading in exchanges, the prices saw a downfall for four-five months until the beginning of 2019. VeChain lost 85% of its value in this period. From January 2020, the prices began to trend up. The price bottomed at 0.003000, surged 217%, and reached 0.009527 in about six months. Thereafter, the prices have been ranging since then.

In March 2020, it fell 40% from the all-time low. However, from April to the present day, VeChain is in a bull run. From April 2020 to June 2020, in a matter of two months, the prices headed north 600%.

Vechain price chart
Vechain price chart by Tradingview

Vechain Past Events

  • VeChain THOR Airdrop – August 1, 2018
  • VeChain THOR Mobile Wallet – July 9, 2018
  • VeChain Coinnest Listing – February 26, 2018
  • VeChain DNV GL Partnership – January 31, 2018
  • VeChain Rebranding Event – January 15, 2018
  • VeChain Major Exchange Listing – December 31, 2017

Vechain Price Chart - Current Market Update

On the Weekly time frame, the market has been ranging between 0.003156 and 0.008015. In the bigger picture, the price is top of the resistance. While on the Daily and the 4-hour time frame, the market is in an evident uptrend.

Presently, as on 14th June 2020, the VeChain price is 0.008861, trading a little above the one year high.

Vechain price chart
Vechain price chart by Tradingview

Above is the Cechain price chart against the US Dollar. The market has been making higher highs and higher lows. Looking at the last few days of data, the prices have been retracing quite deeply. The reason for it can be accounted for the supply area coming from the daily/weekly time frame.

Vechain price chart
Vechain price chart by Tradingview

Vechain Price - Prediction, Target, Forecast

VeChain THOR (VET) is the new rebranded name to VeChain (VEN) that happened in 2020. VeChain announced that it would be partnering with BMW, a popular international car company. Embedding VeChain Thor into businesses will enable them to track their products throughout the supply chain cycle using the blockchain technology. As a result, it will assure the quality and authenticity of the products. Presently, this ecosystem is already put into use by several good stores, food companies, and logistics firms. VeChain THOR announced that it is joining forces with Oxford University, which will provide technical support to the VeChain platform.

Moreover, Coinnest, a well-known South Korean cryptocurrency exchange, has enabled the trading of VeChain THOR with fiat as well. These were some of the significant real-world use cases of VeChain THOR. There are various other domains where it finds applications. Considering this, the trajectory of VET is expected to be towards the upside. This is because the demand for the platform will cause a demand for its token is as well.

As a forecast, we expect either to expect the prices to consolidate or surge to $0.02 by the end of 2020. There are possibilities of consolidation because, technically, the price is in an area that could lead to depreciation. Having said that, if the price manages to breach above the technical resistance area, the target for VeChain THOR would be at levels of $0.02, which is 125% the current market price.

Wallet Investor, a popular cryptocurrency insight website having expertise in technical analysis, expects the VeChain price to drop to $0.00463. In contrast, Trading Beasts have a neutral prediction on this cryptocurrency, where they predict the prices to between $0.01 and $0.02.

Vechain Price - Prediction, Target, Forecast and all for 2020

VeChain has patterned with DNV, a risk, and quality management company, and announced that they are implementing the blockchain technology to drastically increase the rate of drug traceability, security, and auditing. Initially, it will be launched in China, and eventually to the rest of the world. And this is expected to happen within two years. By the end of 2020, it may be brought into effect in China, which could bring a pump up the demand for VeChain greatly. Thus, by the end of 2020, the price action will remain bullish for VeChain and hit the price of $0.02. The value is on the lower side, and one could see much higher levels if the fundamentals remain to favor.

Vechain Price - Prediction, Target, Forecast and all for 2021

Once the blockchain-based DNV hits China, the success or failure can impact the demand for VeChain. Also, if there is any further update on the partnership with BMW, it could bring VeChain into the mainstream media can create demand for it. If things go as expected without delays, VeChain prices can continue to stay at higher levels. In the third or fourth quarter of 2021, the prices may either stay at $0.02 or jump up 100% to trade at $0.04.

Vechain Price - Prediction, Target, Forecast and all for 2022

Demand for VeChain THOR will see a drastic increase once VeChain’s enterprise partners begin to use its blockchain. The acceptance of VeChain on a global scale is going to be gradual. However, the partnership with large companies can speed up the process to an extent.

Partnered enterprises are currently in the testing net phase of the transactions. The migration to the main net is expected to happen in a couple of years. In doing so, the number of transactions and smart contracts would scale significantly, resulting in demand for VET tokens. Thus, in two years from now, the VeChain price is expected to reach $0.06. Having said that, if the platform struggles to widespread, the prices could either consolidate or see a correction until the demand kicks in strong.

Vechain Price - Prediction, Target, Forecast and all for 2023

From the time VeChain launched publicly, the team has been announcing partnerships with several different types of companies. Some of the biggest names include PWC, BMW, and DNV GL. VeChain partnership is based on integrating decentralized applications in the company’s ecosystem. But, in this competitive world, there are possibilities for platforms similar to VeChain to take over the business. If it happens so, the demand could see a downfall. The length of the fall would depend on how well VeChain will sustain in this competitive space. So, our prediction for VeChain THOR, three years from now, remains quite bearish. We expect the prices to hover around $0.015.

Vechain Price - Prediction, Target, Forecast and all for 2024

The factors mentioned in 2023 is expected to carry forward to 2024 as well. Technically, $0.015 is a strong Support & Resistance, and there are possibilities that the prices would bounce up from here, assuming the demand remains intact. Thus, we are partially bullish on VeChain for 2024, as the technical factors look strong.

Vechain Price - Prediction, Target, Forecast and all for 2025

We are extremely bullish on the Vechain prices in a five-year time frame. It is believed that, in five years, the blockchain-based platforms would not only be limited in the crypto space but find applications in actual business ecosystems as well. All the firms mentioned above will have been integrated successfully into their systems, leading to good growth in demand.

Switching towards technical analysis, the Vechain prices which we expect to show a little bullishness in 2024, could see a little slow down in the last quarter of 2024. And 2025 could be the year which can push the VeChain price to $0.1 or even higher because we expect the fundamentals and technicals to show the same trajectory.

Vechain Price - Prediction, Target, Forecast and all for 2030

Practically speaking, both fundamental factors and technical factors could evolve in ten years. The factors that predict the Vechain prices accurately now might not hold ten years later, as the dynamics would have changed. Having that said, if the factors remain to play well, the prices would certainly touch the all-time high of $0.019775. After hitting this price, we cannot expect any massive bull run anytime soon. This is because, by 2030, blockchain would’ve taken over the technology and stabilized as well. Thus, the demand would remain more or less the same.

VeChain – A Possible Cryptocurrency Leader?

In general, there is a value for unique products. VeChain is a unique kind of cryptocurrency and platform which aims to improve the supply chain management using the blockchain technology. VeChain’s partnership with several big companies signifies that they believe in this technology's future, leading to inflation in demand.

Technically, VeChain is trading at lower levels if we were to look at the big picture. Currently, the price is trading at a firm resistance level and is expected to break above in a few months. Another possibility would be that the prices could test the support area ($0.003156) and then begin its move towards the north. So, our bottom line would be an excellent and promising investment if the price comes down for a discount.

Conclusion

VeChain, a blockchain-based platform, and cryptocurrency, launched in 2015, did not quite have a good start when it was enabled for trading publicly. But, after a year or so, VeChain began to show significant bullish sentiments, where the prices surged 200-400% in just a few months. It even made it to the 26th position in market capitalization on CoinMarketCap, showing the demand and traders’ willingness to trade this token. Furthermore, VeChain always has been announcing its partnership with several big shot companies. Therefore, with VeChain’s team expertise and vision, VeChain THOR (VET) is all set to reach new milestones in the coming years.

FREQUENTLY ASKED QUESTIONS

What is the ticker for VeChain THOR token?

The ticker for VeChain THOR is VET

What does the market price of VEChain [VET/USD] signify?

The market price of VET/USD represents the value of one VeChain THOR token in US Dollars.

Where can I buy VeChain [VET]?

You can buy VET from Cryptocurrency Exchanges like Binance and Bitfinex.

Is VeChain [VET] a good investment?

For both short-term and long-term, VeChain prices are expected to rise higher from current levels. Thus, it can be a good cryptocurrency investment.

Which is the official website of VeChain?

The official website of VeChain is vechain.org.