VET is the world’s leading product management platform, and it is blockchain enabled. It is set to revolutionize the logistics arena of organizations in global aspects. Using its blockchain, it becomes much easier for the product manufacturers for managing, collecting and sharing important product data with both vendors and consumers throughout the life cycle of a product. VeChain was established in Singapore with the vision for creating greater market transparency by providing consumers with access to more detailed information about the products they buy and sell.
Current status of VET
VET is currently getting traded at USD 0.005194 (UTC 08:26). In terms of its market cap, it is at the 24th position in the crypto market. It has a market cap of USD 288,007,119 with a circulating supply of 55,454,734,800 VET. Compared to its yesterday’s price, the value of VET has been decreased by -1.65%.
Price analysis of VET on the basis of VeChain charts
On the basis of the above chart, the current value of VET is 0.005328 USD or 0.00000132 BTC (UTC 08:31). It has a current market cap of 295,440,476 USD with 9,150,310 USD as its 24h volume. The same chart shows that nearly one month earlier, the value of VET was 0.004888 USD. So, in this one month, the value of VET has been increased by 9%.
Future price prediction of VET
VET is getting listed on new exchanges and it currently, got listed in HitBT. Recently, VET has been very active due to its efficient partnerships with luxurious brands, governments, and various companies but, crypto enthusiasts expect more from this crypto.
According to the crypto analysts, VET is expected to trade around $0.20 by the end of this year. Cryptoground predicted that VET would approximately trade around $2.00 by the end of this year and by 2020, it can even reach to $4.00. According to the technical analysis, after five years, VET can have a value of $0.38939. According to Wallet Investor, VET can be trading at $41.45 after five years.
So, VET by its current price can be considered as a good long term investment. No matter whether the above predictions are conservative or very supportive, but, it is evident that in the future, the value of VET will rise. Moreover, in the upcoming years, the cryptocurrency market will be much stable so it can be expected that the VET will get praised.
The crypto market is highly unstable now, and in the upcoming days, it will attain more stability. VET is causing a great stir in the logistics of different companies so, their users are also increasing substantially. With more number of uses and promising performances, VET can have the opportunity to be on a bull trend in its future.