Vechain (VET) was established in 2015 and it is one of the oldest company in the blockchain industry. It is a Singapore based, decentralized smart contract platform that focuses on increasing the management process of supply chains. In its decentralized platform, businesses can easily interact and make transactions with each other without any interference of third parties. It aims to provide a dedicated platform to business solutions ensuring up to 10,000 transactions/second.
Current status of VeChain
VET is currently getting traded at $0.004438 USD (UTC time 04:26). Its present market cap has a trading value of $246,113,284 USD and it is the 24th largest cryptocurrency in terms of its market cap. Currently, 55,454,734,800 VET are in circulation in the crypto exchanges. Compared to its yesterday’s price, the value of VET has been lowered by -3.28%. It is currently following a bearish trend.
Price analysis of VET on the basis of VeChain charts
On the basis of the above chart, the current price of VET is 0.004430 USD or 0.00000113 BTC (UTC time 04:31). Its present market cap has a trading value of 245,651,770 USD. Its 24h volume is worth of 10,086,298 USD. The same chart shows that one nearly a month earlier, the value of VET was 0.004051 USD. So, considering these two price points, we can say that the value of VET has been increased by 9.35%. The price range of VET has been following a bullish trend in this approx. 1-month duration. Its earlier price point of 0.004336 USD has provided good support.
Future price prediction of Vechain
According to Roger Ver, the “Bitcoin Jesus,” VeChain has a very bright future for it is trying to solve real-world problems and has amazing applications that are serving many industries. As per VeChain price forecast, performance, technology, market stature, and past trends, its price in 2019 is expected to be around $0.011. According to the major crypto analysts, it will not perform well this year. According to Wall Investor, VeChain is a bad choice for both long and short term investments.
It is better for investors to be aware of VeChain’s opportunities and challenges before they invest in this.
Let’s sum up
VetChain is still very infant and has not yet caught wide attention from investors around the globe. It will be better for the merchants or the investors to remain aware of its price ranges, updates, and performances so that they can invest at the right time for greater profit.