Price Analysis

VeChain (VET) Price Analysis: VeChain’s Talks with Italian Government Can Be The Largest Turning Point

  • VeChain CEO talked to Italian Prime Minister regarding blockchain technology integration.
  • The 2019 price target rests at 0.25 USD.

Since its inception, VeChain (VET) has been working really hard to establish itself as a leading coin in the market. VeChain (VET) has been progressing with a really good pace by making some top associations and partnerships globally. VeChain (VET) recently has made a partnership with some Norwegian companies. And there have been reports that it is now aiming at the Italian market. Sunny LU, the chief executive officer of VeChain, recently met the Prime Minister of Italy at the SEEDS and CHIPS Global Food Innovation Summit in Milan. They have talked about the potential of blockchain system in transforming the future of the globe positively. After the partnerships with BMW and Deloitte, this may be the biggest deal for VeChain. We predict the medium-term of VeChain to be bullish. By the end of 2019, the coin should be there at 0.25 USD. We should now analyze its current figures.

Current VET Price Statistics-

VeChain (VET) Price Chart

  • VeChain (VET) is ranked at 27th position in the global market.
  • The ROI of VeChain stands at negative 49.28%.
  • A total of 55,454,734,800 VET coins are in current circulation.
  • The market cap as on 27th May at 01:54 UTC stands at 422,392,516 USD.
  • The value of each coin stands at 0.00768454 USD and 0.00000087 BTC.
  • The 24h volume at the same UTC stands at 17,178,062 USD.

VET Price Comparison-

VeChain (VET) is one of the few coins which have managed to grow in the 1st three months of the year with a steady pace. However, the lowest point of the coin was 06th February when the coin was being traded around 0.00369114 USD. But before the onset of April, the coin managed to strengthen itself. In just 12 days, the coin managed to get 38.08% in value. The highest point of the coin was on 0.00824327 USD. The market cap on 27th April was 347,562,044 USD, and the value of each coin was 0.00632164 USD. The current market cap and the value of each coin are respectively 21.53% and 21.55% more than the figures for last month.

VET Price Prediction-

As mentioned earlier, the coin will have a bullish growth in future. We predict the coin to reach 0.25 USD by the end of 2019. The resistance point will be 0.01 USD and 0.05 USD.

Conclusion-

This is the best time for diving into the growth story of VeChain (VET). Long-term holding will give huge dividend over the current investment.

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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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