VeChain is a blockchain-as-a-service company which is aimed to establish a distributed and trust free business ecosystem for facilitating the transparent flow of information, high-speed value transferring and efficient collaboration. VeChain has a sound technology with which one can track items via a supply chain for ensuring the quality and authenticity of goods and to maintain the quality control of the food products. It uses a mix of blockchain technology along with its in-house built smart chip which can track items throughout their life cycle. The blockchain of this crypto is an immutable ledger and therefore, one can remain assured of accurate information. VET is the VeChain token that is used by organizations as a smart payment currency for conducting business activities in this blockchain.
Current status of VeChain (VET)
VET is currently getting traded at $0.004718 USD (UTC TIME 07:45). It is at the 24th position in the crypto market in terms of its market cap. Its current market cap is getting traded at $261,631,045 USD with circulating supply of 55,454,734,800 VET. Its current value has been increased by 2.54% compared to yesterday’s value.
Price analysis of VET on the basis of VeChain charts
According to the chart above, VET is currently getting traded at 0.004729 USD or 0.00000122 BTC (UTC time 07:48). Its present market cap has a trading value of 262,243,296 USD. Its present 24h volume is getting traded at 8,363,413 USD. The same chart shows that the value of VET, nearly one month earlier was 0.004126 USD. So, considering these two price points, with one month gap between them, we can say that the value of VET has been upraised by 14.61%. The price range of VET has been bullish since approx. 1 month back. Its earlier price point of 0.004339 has provided a good support resistance to its bullish trend.
What the future looks like for VeChain (VET)?
As per the VeChain price prediction, the currency is forecasted to be trading around $0.258 by the end of 2021 and it can reach $0.612 by the end of 2023. It’s a pretty optimistic forecast. According to Smartetereum, VeChain is predicted to have a value as high as $75 by the end of 2023. Now, this can sound a bit high but, VeChain has a lot of promising applications and technologies for logistics. It aims to apply secure supply chain management via asset digitization. It may be possible that in the upcoming days, there will be more organizations that can be benefitted from this and they too can be its investors. This will automatically raise the value of VET to a great extent.
By the end of 2019, VeChain will launch cross-chain, side chain technology, and IoT integration. Its team is currently focusing to expand the VeChain Thor Ecosystem. As a result, it is assumed that by the end of this year, VET can have a value of $0.20. By 2020, it can even exceed the mark of $0.22882. By 2023, it is susceptible to reach a value of $0.38939.
As VeChain is on its way to cause a revolutionary impact in the logistics arena, it might be possible that in the upcoming days, it will have a significant number of investors. Moreover, its applications have been promising to many companies so, it has a high probability to be upraised in the future, it can be considered for moderate returns on long-term investment.