Price Analysis

VeChain (VET) Price Analysis: Analysts Hoping Good As VeChain (VEN) Got Rebranded As VeChain Thor (VET)

In Spite of the inconsistency of the crypto market, VET has been able to maintain an ascending trajectory most of the time. It is a blockchain enabled platform that is aimed to enhance the supply chain management process with the use of tamper-proof and distributed ledger technology. By dignifying the supply chain management area of various organizations, it allows retailers and consumers to determine the quality and authenticity of the products that are bought.

Present status of VET

VET is currently getting traded at 0.005884 USD (UTC time 05:06). It is currently on a bull trend by 2.86%. With a market cap of USD 326,317,521 and a circulating supply of 55,454,734,800 VET, it is the 24th largest cryptocurrency in the crypto sphere.

Price analysis of VET on the basis of VeChain charts

VeChainThe above chart shows that VET is currently getting traded at 0.005876 USD or 0.00000144 BTC (UTC time 05:13). Its present market cap has a value worth of 325,872,294 USD, and its 24h volume is worth of 12,264,593 USD. The same chart shows that approx. One month earlier, VET had a price point of 0.004561 USD. So, within this period, the value of VET has been on a bull trend by 28.83% with 0.005386 USD as a good support resistance.

Future price prediction of VET

VET’s partnership with Haier has helped integrating its blockchain to Haier’s Cosmoplat Solution- the largest internet platform in the world that solves customization problems. VET is one of the prominent cryptocurrencies in the crypto sphere. Its value has got increased subsequently so far other related digital tokens are concerned. VET nodes got tokenized when the contract is an open source platform and is audited by Slowmist independently. Moreover, with the official launch of its new version, its developers have already announced their partnership with the global BMW Company. The new collaboration of VET has increased expectations of its community as well as global investors, and all have the conviction that VET is going to make big in its upcoming days.

Considering all the above facts, Mega Crypto Price has assumed that VET can trade around $0.258 by the end of 2021 and 0.612 by the end of 2023. As per Trading Beasts, the prediction has been on the neutral side, and they assume that VET will trade around $0.01-$0.02 by the end of this year. Smartereum believes that VET can spike up as high as $75 by the end of 2023. Cryptoground predicts that VET can reach to $2.58 by 2019 end and $4.10 by 2020.

Conclusion

VET is not only a promising cryptocurrency just because the investors and the analysts have high hopes from it but, rather, its performance has been really good for a long time. If it maintains the efficacy of these eminent partnerships, then, it can revolutionize the logistics arena of many organizations in a global aspect. With all these, it is worth considering, so far good returns from long term investment on crypto are the factor.

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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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