Price Analysis

VeChain (VET) Price Analysis: Will VET Partnership With Norwegian Firms Result to Bull Run?

  • VeChain ranks at the 10th position in the global blockchain patent ranking.
  • At the moment, VeChain Thor is considered as most firm DLT projects.
  • VeChain has locked up numerous partnership deals.

VeChain (VET) Thor is a leading and the most solid distributed ledger technology (DLT) project that assures to provide a safe supply. It has created space in the top ten list of blockchain patent ranking out of 100.

However, the charts from the past few weeks are less promising and making the investor break their sweat. We strongly believe that the upcoming ventures of VeChain will result in the investors’ favor.

Current Statistics:

VeChain

  • The ROI of VeChain is -52.78%
  • As on 23rd May 2019, 10:24:50 UTC time, the market cap of VET coins is at 393,846,480 USD.
  • The coin has a circulating supply of 55,454,734,800 VET and a total supply of 86,712,634,466 VET.
  • The VET coin price is noted as 0.007102 USD.
  • In the last 90 days, VeChain has touched a high of 0.008811 USD and a low of 0.004115 USD.
  • Charts of the last 7 days reflect a high of 0.008205 USD and a low of 006959 USD.
  • The 24h volume of VeChain coins is 19,670,653 USD.

Comparison:

VeChain is presently trading on 0.007026 USD at 10:33:56 UTC time. About a month ago, the VET coins were at 0.006110 USD. The comparison shows an upward movement by 15%.

If we look at today’s charts and record the movement of price since the market opened until now, then the coin is registering a regression. The same pattern could be noted in the last seven days price movement of VET coins.

However, the coin has shown a support resistance in the last one month. Hence, the expectation of recovery in Vechain coins is high.

Price Prediction:

At the beginning of the year, VET coins opened at 0.003980 USD, and now the current price is recorded as 0.007026 USD, which means the coin has shown 2x growths till now.

The steady upward movements of VeChain coins can make them touch $0.25 by the end of 2019.

Conclusion:

VeChain entered into a partnership three major Norwegian firms to increase the profit ratio. The same has spiked up hope among the investors.

Lately, Vechain investors must be experiencing some hiccups. But once the coin stabilizes in the market, we are sure that the VET will prove to be a good long term outlay.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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