Price Analysis

VeChain (VET) Price Prediction: VeChain’s Long-term Outlook May get Better than Bitcoin

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VeChain (VET) is a blockchain backed crypto platform with the aim to enhance the payment and settlement system in Supply chain management sector. It is said to have “a comprehensive governance structure, a robust economic model and advanced IoT integration.” In just four years, it has its base in many major cities like Singapore, Luxembourg, Tokyo, Shanghai, and Paris. The VeChain (VET) network is used to assign different identifiers to different products, and it helps every stakeholder in the system of Supply Chain Management to keep track of the price and related things. It is the only major crypto platform which has the vision to revive the Supply chain management.

VeChain ChartWith a negative 49.98 % of return on investment (ROI), VeChain (VET) is ranked 23rd in the crypto market. The coin does not mention the maximum possible supply of coins. However, the total supply of coins stands at 86,712,634,466 VET out of which 55,454,734,800 VET are in current circulation. The current market cap on 08th April at 03:44 UTC is 418,721,482 USD, and the value of each coin in terms of USD and BTC stands at 0.007551 USD and 0.00000143 BTC respectively at the same UTC. The 24 h volume is at 17,102,256 USD.

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The price of each VeChain (VET) coin has been on roaming around the range of 0.0037 to 0.0045 USD throughout the first few months of 2019. But, recently the coin has seen inconsistencies in the price, but overall it has shown enormous growth in the past 15 days. By comparing past one month’s data, we can get an idea of the growth. The market cap of VeChain (VET) on 8th March was 253,716,867 USD, and the value of each coin was 0.004575 USD or 0.00000117 BTC. The current price of each coin is 65.04 % more than the value of March 8th, and the market cap has inflated by 65.03 % in the past one month.

Since March 11, the price movement for VeChain (VET) is happening for good. It has grown by approximately 80 % in these days, and no one predicts the exponential growth in the last week. The next target for the coin to reach by the end of this week should be 0.0085 USD. It is also not very late to secure a buy position as the coin may reach as high as 0.01 USD by the end of this month. On the end of the quarter, we should expect a minimum of 150 % growth in the value of each coin. So, short terms investors, who have made a buy position are advised to wait one week more to gain the highest before the coin gets into the trap of triangle. Long term investors have a bright market ahead. The growth percentage of VeChain may even cross the growth percentage of Bitcoin, as per some experts.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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