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Price Analysis

VeChain (VET) Price Analysis: VeChain To Triple Up In 2019 With Its Efficient Partnerships

VET is a blockchain based platform that dignifies supply chain management processes. It uses tamper proof and distributed ledger technology to provide retailers and consumers with the ability to detect the quality and authenticity of the products. It aims to achieve a secure supply chain management ecosystem through the method of asset digitization. This will benefit manufacturers, supply chain partners, and consumers to track the movement of their products via the supply chain.

Current status of VET

VET is currently getting traded at USD 0.007124 (UTC time 05:09). With a market cap of USD 395,059,151 and a circulating supply of 55,454,734,800 VET, it is the 23rd largest cryptocurrency in the world.

Price analysis of VET

VechainThe above chart shows that VET is currently valued at 0.007159 USD or 0.00000137 BTC (UTC time 05:11). Its present market cap is worth of 397,000,641 USD with 15,311,653 USD as its 24h volume. The same chart shows that approx. One month earlier, VET had a trading value of 0.004817 USD. So, within this period, the value of VET has been increased by 48.61% with 0.005357 USD as a good support resistance.

Future price predictions of VET

VeChain had announced its partnership with BYD, the largest electric vehicle manufacturer of China. This partnership is aimed at resists carbon emission imbalances. It partnered with Haier, to help integrate VET’s Thor blockchain into Haier’s Cosmoplat solution, the largest platform for customization solutions.

With all these, Trading Beasts think that VET can be around $0.01 to $0.02 by 2019 end. Mega Crypto price predicted that by 2021, VET could be around $0.258 and by 2023, it can be around $0.612. Smartereum believes that VET can go as high as $75 by the end of 2023. Crypto Ground assumed that VET could reach $2.58 by the end of 2019.

Conclusion

VET is in progress mode currently. It is making partnerships with global giants, and thus, it is expected that its number of users will rise considerably in the upcoming future. It can be considered as a valuable token for long term 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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