VeChain Price Prediction: Is VET Crypto a Good Investment?

August 14, 2024

Price Prediction

Sean Korbett

VeChain (VET) is a platform where companies can digitally collaborate on data transfer and supply chain management. The goal of this enterprise blockchain solution is to provide unparalleled transparency into product supply chains and to streamline commercial logistics. How will its innovative features change VET’s price in the future? Discover the long-term VET price prediction in StealthEX’s latest article.

VeChain (VET) Overview

VeChain, a project headquartered in San Marino, Europe, employs a consensus mechanism known as Proof-of-Authority (PoA) to verify and record transactions on the network. Users verifying transactions and adding them to the blockchain are referred to as Authority Master Nodes. 

These operators are responsible for executing smart contract operations while strictly adhering to governance rules. To maintain network integrity, users, guided by the steering committee, undergo Know Your Customer checks and actively contribute to the network’s expansion. The implementation of a two-coin system mitigates market speculation risks, instilling confidence among businesses in managing their operating costs effectively.

Sunny Lu, a former chief information officer of Louis Vuitton China, co-founded VeChain with Jay Zhang in 2015, launching it as a subsidiary of the Chinese blockchain company Bitse. Jay Zhang provided technical support for the project, while Sunny Lu took the lead in developing the VeChain platform. In 2017, VeChain launched an initial coin offering (ICO) for 1 billion VEN tokens on the Ethereum blockchain, successfully raising $20 million. In 2018, VeChain moved from Ethereum to its own blockchain, the VeChainThor blockchain. As part of this process, VeChain conducted a token swap from VEN tokens to a new native token, VET, at a ratio of 1:100.

VET Features

VeChain offers a number of features within the crypto space. These are:

1. Multi-party payment. Flexible transaction fee delegation systems facilitate seamless user onboarding for decentralized applications running on a freemium model. An organization can have a smart contract and dedicated gas account to manage the gas fees required to utilize the network thanks to VeChain’s novel fee delegation protocol.
2. Anti-counterfeiting. With smart chips and a public ledger, each item is tracked to avoid duplication. This feature is popular among luxury brands.
3. Cold-chain logistics. Smart IoT sensors automatically transmit essential info about transportation and storage to the blockchain. For example, to make sure that produce is fresh.
4. Clinical trial traceability. VeChain offers information traceability from an early stage for studies conducted. This side project is being implemented in a partnership with Bayer China.
5. Staking. Crypto staking allows VET holders to lock their assets for a designated period, contributing to the enhancement of network security. In return for their participation, users receive new VET coins as interest. 
6. Fee delegation. Enables sponsor accounts to cover transaction fees, lowering barriers to entry for new users.
7. Cost predictability. Unique dual-token model ensures stable transaction fees during high-demand periods.
8. Controllable transaction lifecycle. Using the Expiration and BlockRef transaction attributes, users can specify the time at which a transaction is processed or expires if it is not included in a block.
9. Multi-task transaction. With multi-function atomic transactions, developers can manage the order of the calls, combine several calls to different contract functions in a single transaction, and batch payments.
10. Transactions dependency. To make sure that the execution order meets the needs of the business, users can specify dependencies that prevent transactions from being carried out until the pertinent transaction has been completed.

VeChain (VET) Price History Highlights 

• 2018: VeChain launched in June 2018 at a relatively low price.
• 2019: In 2019, VeChain price increased by +33.54%, starting at $0.003921 and closing the year at $0.005236.
• 2020-2021: VET was generally a quiet coin between its launch and late December 2020. Since then, it peaked at its all-time high in April 2021 with $0.2782 but lost over 80% in the following months, dipping to $0.058 in July 2021.
• 2022: In 2022 VET was hovering at a relatively low price and during December 2022, VeChain price declined by -17.84%, starting at $0.01923 and closing the month at $0.0158. VeChain’s price has dropped by over 71% during the 2022 bear market. 
• 2023: VET had a largely disappointing 2023, but things picked up at the end of the year. It started well, rallying to above $0.03 in February, but then fell. The crypto rallied in the last few months of 2023, though, and it closed the year at $0.03424. This meant it had climbed more than 115% over the course of 2023.
• 2024: During the short bull run in March VET’s price soared and hit $0.05. At the moment the VeChain price hovers between $0.02 and $0.03.

VeChain (VET) Price Chart    

CoinMarketCap, August 14, 2024

VeChain Price Prediction: 2025, 2026, 2030-2040

VET Price Prediction 2024

DigitalCoinPrice experts expect that in 2024 VET coin’s price might drop to $0.0209 (-10%) at its lowest point, while it can also go as high as $0.0509 (+117%).

PricePrediction analysts expect that in 2024 VET coin will rise in price insignificantly: $0.0262 (+11%) at its low vs $0.0291 (+24%) at its peak.

Telegaon crypto experts think that the lowest price VET can reach in 2024 is $0.064 (+173%) vs its peak price that’s going to reach $0.15 (+540%).

VeChain Price Prediction 2025

DigitalCoinPrice crypto analysts think that in 2025 VET coin can go as high as $0.0598 (+155%) at its peak. Its lowest price might drop to $0.0501 (+114%).

PricePrediction forecasts promise that in 2025, VET’s lowest price is going to get to $0.0396 (+69%), while at its highest point VET crypto can reach $0.0460 (+96%).

Analysts at Telegaon expect that in 2025, VET coin will do great and will reach a maximum price of $0.54 (+2,206%), while its lowest price level will be registered at $0.16 (+583%).

VeChain Price Prediction 2030

DigitalCoinPrice analysts believe that by 2030, VET coin will rise to a maximum level of $0.17 (+626%), while its minimum price is going to hit $0.16 (+583%).

According to PricePrediction forecasts, by 2030 VET might reach $0.2628 (+1,022%) at its lowest point, while at its peak it might go as high as $0.3177 (+1,257%).

Telegaon price predictions estimate that by 2030, VeChain is going to hit $4.17 (+17,712%) at its lowest point and can also go as high as $7.63 (+32,492%).

VeChain Price Prediction 2040

According to PricePrediction forecasts, in 2040 VET’s price will eventually get closer to $20: its minimum price is expected to be $16.9 (+72,091%), while at its peak the token is going to soar to $20.15 (+85,974%).

Telegaon analysts expect that by 2040, VET’s price is going to go beyond the $20 mark: $25.23 (+107,674%) at its minimum vs $30.25 (+129,118%) at its maximum.

VeChain (VET) Price Prediction: What Do Experts Say?

VeChain’s primary use cases include provenance, logistics, and authentication. Public ledger transparency enables partners and customers to confirm the provenance and movements of goods. VeChain is one of the few crypto-projects that have actual adoption and product-market fit with major corporations like Walmart China, Pricewatercooper, PwC, Cointelegraph, BMW Group, LVMH, Moët, Hennessy, and Louis Vuitton. It is also true, however, that its permissioned, KYC’d, centralized, and closed ecosystem of MasterNodes offers none of the open, free-to-participate, permissionless characteristics of Bitcoin or Ethereum. Moreover, VeChain was built for a large but very particular supply chain management use case, meaning there is essentially no reason a retail user needs the coin.

Despite this, if the project adjusts to the larger market, it can prove to be a great solution. VeChain has recently announced a strategic partnership with the Crypto Carbon Ratings Institute (CCRI). In order to improve environmental transparency and comply with future Markets in Crypto-Assets (MiCA) laws, our collaboration is a critical first step. By partnering with CCRI, VeChain is demonstrating its dedication to sustainability and legal compliance and establishing itself as a pioneer in the application of blockchain technology to environmental objectives. Many experts are bullish on VeChain and predict that its native coin’s price is going to grow in the future. For instance, CoinEagle via CoinMarketCap believes that in 2030 VET crypto can go as high as $2.

VET USDT Price Technical Analysis     

Tradingview, August 14, 2024

Now that we’ve seen possible price predictions for VET, let’s find out a bit more about the factors that can influence its price.

What Does the VeChain Price Depend On?

A variety of factors, including adoption rates, regulatory actions, market sentiment, technology advancements, and worldwide economic conditions, could impact the price of VeChain in the future. Moreover, VeChain’s pricing has been greatly impacted by strategic alliances and integrations with mainstream industries.

Furthermore, company news can affect the price of VET both in positive and negative directions. For instance, this happened in June 2019 when Walmart China decided to collaborate with VeChain. VET experienced a brief price range breakthrough, peaking at $0.0095.

When assessing VeChain as an investment, keep the following considerations in mind:

• Economy at large;
• Market sentiment;
• Company news;
• Technological advancements;
• Wider adoption;
• Partnerships and integrations;
• Regulatory decisions.

Risks and Opportunities

Some of the latest tools implemented by VeChain in their field were food safety traceability, sustainability services for immutable proof of a green supply chain and more. The project is already used by many luxury goods stores, food/drug companies and logistics companies. It’s logical to expect the technology behind VeChain to infiltrate more and more businesses down the line.

VeChain is also in close contact with the Chinese government. Thanks to this, the coin’s chances get better every year, and the project’s cost might go up when the technology is implemented. All in all, VeChain seems to be doing well, despite the turbulence on the crypto market. As every cryptocurrency, its price is subject to extreme volatility.

Is VeChain a Good Long-Term Investment?

This is subjective and could be decided according to personal investing objectives. Even if VeChain has proven to be valuable and useful in the supply chain industry, there is no guarantee that VET is going to greatly rise in price over the following years. However, its strong technological foundation, strategic partnerships, and real-world applications back its utility.

Does VeChain Have a Future?

There is a reasonable chance VeChain could reach new price levels as the crypto market expands.

Can VeChain (VET) Reach $1?

Most experts are bullish on VeChain, and it is possible that VET can hit $1.

Can VeChain Reach $2?

It is an ambitious goal, but not an impossible one. According to Telegaon, it can happen in 2027.

Will VeChain Hit $5?

According to Telegaon, it can happen in 2030, when VET will be trading at an average price of $5.4.

Will VET Reach $10?

PricePrediction estimates that this might happen after 2030.

Can VeChain Hit $100?

It is unlikely. With its huge supply, Vechain reaching $100 would sky-rocket its market capitalization.

How High Can VET Token Go?

Telegaon experts believe that in 2050 VET token can go as high as $63.

What Will VET Be Worth in 2025?

According to DigitalCoinPrice, in 2025 VET crypto will reach a maximum of $0.051.

How Much Will VeChain Cost in 2028?

According to Telegaon, in 2028 one VeChain will cost $2.76 at its peak.

How Much Will VeChain Cost in 2030?

PricePrediction experts think that in 2030 the highest price level VeChain can climb to will be $1.01.

What Will VET Crypto Be Worth in 2040?

PricePrediction experts think that in 2040 VET crypto will hit $20 at its peak.

Conclusion

VeChain has the potential to play a significant role in the developing world’s luxury goods, alcoholic beverages, food, and other use cases if it plays its cards well. These may also become significant for merchants in industrialized nations, but they are unlikely to be required in places where sophisticated and well-monitored logistics are already in place. However, the demand for innovative solutions in logistics is still high, and VeChain can provide a number of valid use cases to leverage their experience in the field.

Where to Buy VeChain Coin?

StealthEX is here to help you buy VET crypto if you’re looking for a way to invest in this cryptocurrency. You can buy VET privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy VET Crypto: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

• Choose the pair and the amount you want to exchange — for instance, ETH to VET. 
• Press the “Start exchange” button.
• Provide the recipient address to transfer your crypto to.
• Process the transaction.
• Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.