VeChain coin, VET, is currently the 28th largest cryptocurrency in terms of market capitalization. Its current valuation is US$6.42 billion. Since its launch in mid-2018, VeChain coin’s price has increased from US$0.01342 in early-Aug 2021 to US$0.09977 on Sep 24, 2021. This means the price of VET has increased by over 640% in the last 3-years. If we consider its all-time high price at US$0.2782, achieved on April 17, 2021, the price has increased by 1,973% since its launch in mid-2018.
But what’s the secret of this massive success of the VeChain project and its token VET coins? To help you understand why you should invest in VeChai coin, let me walk you through the different aspects of the VeChain platform and its native coin VET.
VeChain platform is a supply chain platform that has been powered by blockchain. Though the project was initiated back in 2015, it was launched in June 2016.
VeChain project’s main aim is to utilize distributed governance and Internet of Things (IoT) technology for creating an ecosystem that solves supply chain management’s main problems. The project along with its native coins boosts the efficiency, traceability, and transparency of supply chains. VeChain also reduces costs and also provides more control to individual users.
There are 2 in-house tokens of the VeChain platform and they are:
These tokens are used by the VeChain platform for managing and creating value based on the VeChainThor blockchain (which is a public blockchain). The dual token system of VeChain is designed in such a way that network congestion and fee fluctuations can be avoided.
If you are a VET holder, a small amount of passive income is generated automatically in VTHO. It is important to note that 70% of the VTHO tokens used in a VET payment are destroyed. The extent of VET holdings determines the number of VTHO coins generated.
Sunny Lu, former CIO of Louis Vuitton China, is the creator and co-founder of the VeChain project and VeChain Foundation. This project was also co-founded by Jay Zhang, who previously worked in the finance and risk management sphere for PriceWaterhouseCoopers and Deloitte.
All these facts and figures will help you to make a decision on investing in VeChain’s native token by making VET to USD price predictions:
VeChain brings a paradigm shift in the supply chain industry. It infuses more transparency, efficiency, a higher level of security, and reduces cost. As VeChain’s platform is based on blockchain technology, it implements trustless automation in the supply chain models for reducing costs.
More and more businesses are adopting the model of VeChain. This is mainly because it reduces friction in the supply chain, thereby providing a more transparent impression to clients.
Yes, the price of each VeChain VET coin will hit US$10 in the coming 4-years (by 2025).
VeChain’s price reaching US$100 is not unnatural. However, to reach that extent of the price level, the VeChain project must go through:
As VeChain has a very high supply of coins in the network, it keeps the price of coins at a lower level. To help you understand how large is the supply, let’s compare it with another popular altcoin. VET coin’s supply is around 10-folds higher than that of Algorand ALGO (which is also known for having a huge coin supply in its network).
The extremely huge supply of VET coins makes it difficult for its price to reach US$100. However, it is not impossible. The more the development in the project, frequent updates in the platform, government level partnerships, major institutional adoption, and continued rise in the overall global cryptocurrency market will help the price of VET coins reach US$100 in the long run.
Many futurists are of the opinion that the daily lives of human beings will be fully linked with AI (Artificial Intelligence) by 2030. With AI becoming the foundation of our daily lives, the importance of decentralized projects will be very high. With DeFi going mainstream along with the rise of Metaverse, the VET price is likely to reach anywhere from US$50 to US$60 by 2030 or in the next 10-years.
You can buy, sell, and trade VET coins on almost all major cryptocurrency exchanges and crypto API including:
VET is still not available for trade on Coinbase or Coinbase Pro.
The best cryptocurrency wallets to store VeChain coins (VET) are:
You can buy and sell VeChain VET and other cryptocurrencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges). Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility.
If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi systems and tokens for maximum profit.
You can also diversify your crypto coin portfolio by including other cryptocurrencies such as AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others.
Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return.
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