Price Analysis

VeChain (VET) Price Analysis: No Sign of Bear in VeChain’s Growth Story

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VeChain (VET) is an ecosystem aimed at enhancing supply chain management through blockchain technology. It was set up four years ago, and it is now giving supply chain management a platform to connect to the real world in many cities like Singapore, Luxembourg, Tokyo, Shanghai, and Paris. It claims of having “a comprehensive governance structure, a robust economic model and advanced IoT integration.” On Vechain’s platforms manufacturers assign their products on some identifiers so that all the parties to supply chain management can track the particular product. It is one of the leading cryptocurrency aimed at reviving supply chain management system.

VechainVeChain (VET) is ranked 23rd on the crypto market with a negative ROI of 53.02 %. The total capacity of circulation is not known but the total supply as of now stands at 86,712,634,466 VET, and the current circulating supply is 55,454,734,800 VET. The year started at a lower not in as far as the price of each coin is concerned, but it has grown since then. The value of each coin at the starting of this year was 0.003962, and the current value in USD is 0.006943 on 3rd April at 05:04 UTC. The market cap at the same UTC stands at 385,017,695, and the value of each coin in BTC is 0.00000142 BTC. The 24 h volume also stands at 30,880,470 USD.

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The coin is on the rise for the last month. By comparing the values of one month back, we can come to a conclusion the rate of growth it is experiencing currently. The market cap on March 4 was 248,431,644 USD, and the value of each coin in terms of USD and BTC was 0.004480 and 0.00000117 respectively. The current value of market cap is 54.97 % more than the value of March 4, and the price of each coin in USD is also 54.97 % more than the value of one month back.

The market for VeChain (VET) has been favorable. The inflation in the value of market cap, as well as price in USD of the past one month, is continuing and it is expected to grow even higher. As predicted earlier, the value of each coin has already reached 0.07 USD. But, investors should not be complacent. The graph is going to grow even more. The aim should be somewhere around 0.08 or 0.09 right now. It is even not a very bad time to make a buy call, as the price is going to increase surely. Experts have predicted that there are no signs of the bull in the growth story of VeChain (VET). As it is more related to major cryptocurrencies, if something bad doesn’t happen in the recent future, all short term, as well as long term holders, are going to be profited from holding their positions.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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