Price Analysis

VeChain (VET) Price Prediction: VeChain’s Tie-up with Haier will Soon End the Price Correction Phase

eToro

VeChain (VET) was created 4 years ago as a digital eco-system aimed at enhancing the payment and settlement system in the supply chain management sector. It is now operational in many leading metro cities all across the globe. It claims of having an efficient democratic governance system, a decent economic model and best of the class IoT integration. VeChain enables the manufacturers to assign identifiers to a different product to keep a track on the price movement.

Current Statistics-

Vechain

eToro Crypto
  • VeChain (VET) is the 26th largest crypto coin in the world.
  • The ROI (Return on Investment) of this coin stands at negative 58.49%.
  • A total of 55,454,734,800 VET coins are in current circulation.
  • The current market cap as on 06th May at 01:29 UTC stands at 350,070,125 USD.
  • The value of each coin stands at 0.006313 USD and 0.00000111 BTC.
  • The 24h volume at the same UTC is 9,939,328 USD.

Comparison-

VeChain (VET) started the year with a moderate price level at 0.0039 USD right after the crypto winter. However, after a small inconsistency, the value went all high up to 0.0053 USD. From there it started showing price variations. The biggest gain was made after 1st April boom when the value reached 0.0078 USD. Now the value is undergoing a price correction phase. The market cap on 06th April was 415,662,227 USD. And the value of each coin was 0.007496 USD. The current market cap is 15.78 % less than the market cap of last month. And the value of each coin has decreased by 16 % from 06th March.

As far as the trading pattern of the last 24 hours is concerned, we can see a lot of variations in the price movement. The range was 0.006489 USD to 0.006313 USD.  There were three major instances of price ups and downs over the last 24 hours.

Prediction-

VeChain (VET) has recently gone into partnerships with some major multinational companies. The tie-up with Haier aims at integrating VeChain’s blockchain to Haier’s Cosmoplat solution. This tie-up has managed to give a huge boost to the value of this coin. Looking at the market trend, we predict the rise further after a short stint of price correction. The next resistance levels would be 0.0075 USD, 0.0080 USD and 0.0085 USD. By the end of 2019, the value should be at 0.01 USD.

Conclusion-

This price stage is the perfect time to buy the coin. Holding the coins until the end of 2019 will give huge profits owing to the global tie-ups VeChain is making.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button