Although the crypto market is widely known for its inherent risks, it also offers the potential for higher returns. For those who want to invest in cryptocurrencies, VeChain seems a good one. To help you make informed decisions, this article centres on the Vechain price predictions for 2023-2030.
What is VET Coin?
In 2015, Sunny Lu, drawing from his extensive experience gained during his tenure at Louis Vuitton China, established VeChain as a comprehensive solution dedicated to enhancing supply chain operations. VeChain takes pride in its ability to radically improve the product lifecycle through an efficient management system.
While VeChain’s roots can be traced back to the Ethereum code, it has significant applications in payment networking, voting, and smart contracts. Thanks to VeChain’s innovative solutions, developers cater directly to the needs of business clients by offering tailored features. By meticulously recording and verifying every piece of information related to supply chain movements, VeChain ensures enhanced security.
VeChain operates on a blockchain platform that uses VET and VTHO tokens.
The VET token is the official VeChain cryptocurrency and transfers value to smart contracts. It is the primary token used for transactions on the VeChain blockchain, making it accessible for the general public to use for investment purposes.
Meanwhile, the VTHO token, also known as VeChainThor Energy or VeThor Energy, is employed to power transactions on the VeChain network. Its value is equivalent to the cost incurred for executing transactions on the blockchain. This token plays a crucial role in facilitating decentralised application transactions.
To conduct transactions on VeChain’s decentralised applications, developers need to hold a specific amount of underlying tokens, similar to Ethereum’s ether. VeChain has implemented this token system to ensure effective governance. The Proof of Work mechanism allows users to mine additional VTHO tokens if the initial estimate proves inaccurate.
Significant Updates on VeChain (VET)
VeChain shows signs of life
In early December, VeChain surged to a 2023 high of $0.041153, marking an 84-week high and exhibiting a growth of approximately 180% in its value from the September low. Although VeChain closed the week starting December 11 below this peak at $0.02946, the current week witnesses another attempt to retest the yearly high.
A recent study by cryptocurrency analyst sheds light on VeChain, mentioning that the VET token is currently in a consolidation phase resembling the period of 2018 – 2020. If this pattern persists, the token may breach the $0.033 resistance level in the next fortnight and pave way for a significant upswing.
On December 19, VeChain witnessed a massive pike in VET trading volume during a 24-hour period, growing 85% to $143.9 million, showing a flood of trading activity for the VET token. The price also rose by 7%, surpassing a critical resistance level at $0.033.
Moreover, a recent advancement reported by NowNodes emphasised a strong ceiling move in on-chain data requests for the VeChain blockchain, rising from 240 million requests in Q1 to 392 million in Q4. This uptick implies perpetual growth of node load and usage over 2023.
VecChain & Aworld joins forces to calculate carbon footprints and reward virtuous actions
VeChain has recently launched a VeChain Challenge on AWorld, a sustainability gamification platform supporting the UN’s ACTNOW program. AWorld allows users to log sustainability activities, form global teams, and take collective action on environmental topics.
Following the Challenge, users can record daily habits immutably, generating NFTs as digital certificates that authenticate and preserve information. Through this collaboration with AWorld, VeChain is helping prove the power of Web3 for sustainability and promote sustainability actions.
Moreover, VeChain, AWorld, and the Nitto ATP Finals have collaborated to advance sustainability, with initiatives introduced at the Nitto ATP Finals 2023 in Turin from November 12 to 19. The Fan Village hosts AWorld’s Carbon Footprint Station at the VeChain booth, enabling attendees to compute CO2 emissions. By answering questions, visitors receive personalised advice on reducing their impact in areas such as nutrition, mobility, transportation, and consumption. Certifying this information generates exclusive NFTs.
Additionally, until December 20, 2023, an online challenge encourages sustainable actions, allowing users to join teams inspired by the Nitto ATP Finals 2023 finalists. Participants record daily activities, earning rewards for eco-friendly choices like using public transportation. VeChain’s technology integration authenticates positive actions, rewarding participants with exclusive NFTs. The top 8 participants may win Phygital Tennis rackets, blending the physical and digital realms with NFC chips and corresponding NFTs, along with numerous passes for the Nitto ATP Finals 2024.
Furthermore, if the community achieves a minimum of 50,000 sustainable activities, VeChain commits to recovering 625 kg of ocean plastic through a partnership with the ReSea Project. This initiative utilises the VechainThor blockchain for tracking and certification.
VeChain & SingularityNET join hand on AI to fight climate change
On August 24, AI firm SingularityNET and blockchain firm VeChain formed a partnership, connecting blockchain with artificial intelligence to cut down car emissions.
In a joint statement, the firms stated that this collaboration will merge VeChain’s enterprise data with SingularityNET’s advanced AI algorithms to promote automation of manual processes and provide real-time data. This move could allow AI to identify novel ways to deploy VeChain’s blockchain data to optimise carbon emission output and minimise pollution.
VeChain (VET) Price History
Over the past year, the performance of VeChain has been remarkable. Despite a recent slump attributed to market uncertainty surrounding the pandemic and the Russia-Ukraine war, digital asset investors remain optimistic about its long-term price. The strong foundation of VeChain, including its projects and solid partnerships, has contributed to its resilience.
In 2019, VeChain partnered with Walmart China to implement a traceability strategy, streamlining the product management process between suppliers, stores, and customers. This collaboration aimed to enhance transparency and efficiency.
In 2021, VeChain made significant strides in various domains. The local government of Suzhou, China, introduced VeTrust, a risk self-assessment application built on the VeChainThor blockchain in conjunction with DNV. This application played a crucial role in infection risk management. VeChain also partnered with Deadstock, a streetwear retailer, to use its blockchain technology for authentication in the US and Canadian markets.
Furthermore, VeChain achieved a significant milestone in July 2021 when San Marino approved its NFT-based vaccination passport. This innovative solution enabled citizens and residents to move freely by securely storing records of past infections, negative test results, and digital vaccination certificates.
In April 2022, VeChain joined the Blockchain Infrastructure Alliance, demonstrating its commitment to building a more unified and robust blockchain industry.
June brought another exciting development as VeChain became the first Official Layer 1 Blockchain Partner of the Ultimate Fighting Championship (UFC), granting VET significant visibility. With UFC’s broadcasts reaching an estimated 900 million TV households in 175 countries, this partnership offered valuable exposure.
As of June 21, the VeChain token was at $0.025, with a market cap of about $1.78 billion. Approximately 7.251 billion VET tokens are currently in circulation. VeChain can be traded on various platforms, including Binance, Bybit, FTX, MEXC, and BingX. According to CoinMarketCap, VeChain is ranked #31 among cryptocurrencies.
Please note that the information above is based on the available data up to my knowledge cutoff in September 2021, and there may have been further developments since then.
VET Price Prediction: Expert’s Opinions
This year, VeChain achieved a milestone with the launch of the initial phase of its Proof-of-Authority (PoA) 2.0 consensus mechanism to enhance the network’s scalability. While the PoA system used in VeChainThor may lack the open, permissionless, and decentralised nature of other mechanisms, it has been successfully implemented on the testnet. Now, let’s delve into short-term and long-term price predictions for VeChain.
As of June 21, according to Wallet Investor’s algorithm-based forecast, VeChain will witness a poor long-term investment over the course of one year, with potential price drops from $0.0233 to $0.00190. Their VeChain price prediction for 2025 is at $0.00251.
DigitalCoinPrice’s VeChain price prediction suggests that the coin can reach $0.0357 in September 2022 and $0.0352 by December of the same year. They anticipate the coin averaging $0.0376 in 2023, $0.0378 in 2024, and potentially reaching $0.0510 in 2025. The forecast indicates continued upward momentum, projecting a value of $0.12 by 2030.
PricePrediction.net predicts that the coin could reach $0.033 in September 2022 and $0.036 by December. They forecast an average price of $0.055 in 2023 and $0.079 in 2024. The VET coin price prediction for 2025 is at $0.11.
According to Gov Capital, VeChain may rise to $0.1256 within 12 months. Their VET price prediction 2022 is $0.063, followed by $0.197 in 2023, and potentially $0.58 in 2025.
Long Forecast’s VeChain predictions suggest a coin price of approximately $0.018 by the end of 2024. Their short-term projection indicates a price of around $0.017 by December 2023.
*When considering VeChain coin price predictions, note that forecasts made by analysts can be inaccurate, as there are no guarantees. Cryptocurrencies, including the high-volume ones such as Bitcoin or Ethereum, are highly volatile and considered high-risk assets.
VeChain Price Predictions 2023-2030
The VeChain forecast, based on the previous year’s VeChain news and price analysis in the crypto market, displays a wide range of predictions. However, unlike the previous year, the current state of the crypto market is not bearish. The market has begun to recover from the losses experienced earlier. As a result, the future of the VET coin appears optimistic, mirroring the positive sentiment surrounding most other cryptocurrencies.
Now, let’s delve into detailed VeChain price predictions for the upcoming years:
| YEAR | MINIMUM PRICE | MAXIMUM PRICE |
| 2023 | $0.021 | $0.051 |
| 2024 | $0.041 | $0.063 |
| 2025 | $0.060 | $0.091 |
| 2026 | $0.081 | $0.124 |
| 2027 | $0.105 | $0.160 |
| 2028 | $0.114 | $0.174 |
| 2029 | $0.127 | $0.195 |
| 2030 | $0.151 | $0.231 |
VeChain Price Prediction 2023
According to our VET price prediction for the year 2023, the VeChain coin is to have a minimum price of approximately $0.021 and a maximum price of around $0.051. This price range indicates a potential change of over 100%. On average, the expected price for VeChain in 2023 is estimated to be $0.036.
VET Price Prediction 2024
For 2024, the projected maximum price is $0.063, while the minimum is expected to be $0.041. Additionally, the average trading price for VET tokens in 2024 is anticipated to be around $0.052. Based on these predictions, your current investment may experience a growth of over 50%.
VeChain Price Prediction 2025
Based on our VET crypto price prediction, the coin can experience a significant surge of approximately 300% annually. The trading range for VET might span from a potential low of $0.060 to a maximum level of $0.091. On average, the coin has a trading price of nearly $0.0755 during the entire year.
VET Crypto Price Prediction 2026
We anticipate a substantial growth of over 445% for the coin in 2026. The projected minimum and maximum prices are $0.081 and $0.124, respectively. The average price is estimated to be around $0.1025. As the year progresses, the closing price is expected to reach $0.120, indicating a promising investment opportunity.
VeChain Crypto Prediction 2027
There is a possibility for the coin to reach a high of $0.160, but on the downside, it may decline to as low as $0.105. On average, the token price could be trading around $0.132 throughout 2027.
VET Price Prediction 2028
Based on our VeChain predictions, the coin may trade between $0.114 to $0.174 in the year 2028. The lower end of the range represents the lowest price, while the higher end represents the maximum price. The average price of the crypto is around $0.144 during this period.
Vechain Price Prediction 2029
Based on historical performance and analysis, the VeChain coin is projected to have a price range of approximately $0.127 to $0.195 in 2029. The average price for VeChain during this period is estimated to be around $0.161. These predictions suggest a consistent growth trajectory for the VeChain ecosystem.
VeChain Price Prediction 2030
The long-term outlook for VET in the crypto market appears promising. Our analysis indicates that the coin may reach a maximum price of $0.231 in 2023, while the minimum price is around $0.151. The average price of VET during 2030 is estimated to be $0.191. These forecasts indicate a positive trajectory for VeChain in the coming years.
Is VeChain a Good Investment?
VeChain crypto has gained a reputation as a favourable investment among users with a bullish stance on the project. They regard VeChain as a leading Blockchain-as-a-Service provider that has established its value in critical areas such as enhancing supply chain management, carbon management, and food safety tracking. Those optimistic about VeChain’s prospects will likely invest in VET, while traders and speculators may focus on the VTHO token.
One of VeChain’s strengths as an investment lies in its unique niche and advanced technological approach, which sets it apart from competitors like Ethereum. While it may not directly compete with larger platforms, VeChain has significantly progressed in its targeted areas, surpassing many other layer-1 networks.
VeChain’s close relationship with the country may lead to success in Asian markets. Still, it could hinder its reception in the Western markets, potentially explaining why it has not been listed on Coinbase. VeChain also confronts competition from traditional non-blockchain industries, posing a risk to its growth.
While expert predictions of price increases exceeding 300% in the coming years may seem plausible, you should conduct independent research and treat expert opinions as references. Potential investors in the VET token need a comprehensive understanding of VeChain’s technology and carefully evaluate expert opinions before making an investment decision.
VeChain Price Prediction FAQs
How to buy VeChain?
When considering your jurisdiction, select a cryptocurrency exchange that facilitates the trading of VeChain (VET) and a suitable wallet to store your tokens securely. Then, purchase the desired amount of VET tokens and transfer them to your chosen wallet for safekeeping.
Will VeChain reach $1?
It is possible, but none of the forecasts indicate that VeChain will reach that level shortly. Gov Capital predicts a possible price of $0.77 within a five-year timeframe. Note that projections are not always correct, and you must research and maintain a realistic approach when making investment decisions and considering the future.
What is the future of VeChain?
VeChain is a layer-1 smart contract platform, enabling developers to build innovative smart contracts and DApps. However, the future is uncertain, and whether VeChain will emerge as the next Ethereum remains unpredictable. Yet it will be captivating to witness VeChain’s competition with its rivals and observe how it delivers unique solutions to gain a competitive advantage.
Where to buy VeChain in Australia?
VeChain (VET) can be traded on 90 centralised crypto exchanges worldwide. In Australia, CoinSpot is highly recommended for purchasing VET due to its user-friendly platform, low fees, and convenient payment options, catering to novice and experienced traders. Simply create and verify your account, deposit Australian dollars into your bank account, and initiate VeChain trading with just a few clicks. To gain a deeper understanding of CoinSpot, read our comprehensive CoinSpot review.
Is it legal to buy VET in Australia?
The buying and trading of cryptocurrencies, including VeChain (VET), are legally allowed in several countries, such as Australia, the United States, the European Union, Canada, and El Salvador. Individuals can purchase VET in Australia on popular crypto exchanges like CoinSpot, Coinbase, and Swyftx. Note that while taxes typically don’t apply to the purchase of virtual digital assets, selling VET for a profit may incur tax obligations.
