What is VeChain (VET)
VeChain (VET) is the brightest example of how successful a blockchain ecosystem should look like. At the time of writing, the total market cap of the coin is over $350M in VET. The daily trading volume of the currency is above $130M. The coin takes twenty-eighth place in the top 30 cryptocurrencies in the world by market cap, according to CoinMarketCap. Recently, the coin value has been rapidly boomed, and the current VET price is fixed at $0,006422 (or 0,00000079 BTC) for 1 VET.
Just like in the case with TRON, the VET coin price has been actively heating over a couple of last weeks, and less than one month, it gained over 90% from $0,004 up to $0,0079. At the beginning of 2019, the VET coin price was about $0,0039, and since then, the coin has shown a robust bull market up to $0,0098, and the project doesn’t seem to dwell on its highs.
The VeChain native coin can be both kept and traded in Atomic Wallet, a secure decentralized cryptocurrency wallet for Bitcoin, Ethereum, Ripple, and over the other 500 tokens.
VeChain is a blockchain project that uses distributed ledger technology and the Internet of Things (IoT) to keep track of the production and logistics of elements during their life cycles. The Singapore-based project is the oldest blockchain project known so far as it began its long way to success back in 2007.
The Vechain project is focused on the digitalization of physical products via its identification system — Vechain ID (VID). VeChain IDs are created using the SHA-256 hash function, which is associated with products using an identifier (NFC chip, RFID, QR Code).
These IDs are stored on the blockchain and sent with the help of smart contracts.
The native coin of the project (formerly known as VEN) was launched back in 2014.
As for now, the project uses two coins: VeChain (VET) and VeThor Token (VTHO).
While the VET coin is needed to access ecosystem applications, financial operations, and second-layer coins, the VTHO coin is used as a means to deploy smart contracts and pay fees to perform transactions.
While holding VET coins, a user can receive some dividends (approximate ROI is 2.2%). Every time when a new block is generated, a user automatically receives VTHO coins.
VeChain (VET) Price Chart
As for now, the coin had almost reached its summer heights and continues to show a steady growth even though activity is far from September 2018, when the currency was at the $0,019 USD mark and showed all-time-high, according to CoinMarketCap. The continuation of significant partnerships and real use-cases alongside the news media support will stimulate the growth of the coin. However, it has yet to break the summer highs that remain to be “unbeaten” since November 2018.
VeChain (VET) Price Prediction 2020
VeChain is the hottest asset to buy right now, but will it keep the growth once the hype is over? There’s an assumption to believe that it will as the project is conducting many big partnerships with such whales as PricewaterhouseCoopers, Walmart China, Fanghuwang, and BYD — one of the largest Chinese car manufacturers.
To see how high VET price can go, we’ve gathered several the most ambitious VeChain price predictions:
- Donald Tapscott VeChain Price Prediction
Donald Tapscott, president of the Blockchain Research Institute in an interview with Bloomberg, said that “the 50 trillion dollar supply chain industry is moving to blockchain” sector. It goes without saying that VeChain, as a leader in the blockchain-based supply chain industry, will gain its benefits from this migration. Tapscott is convinced — supply chain on the blockchain technology is “one of the 15 different industries where really big things are happening.”
- Changelly VeChain Price Prediction
The popular crypto exchange platform Changelly claims that in 2020, the VeChain price might be full of price spikes, and if the coin market experiences a few bullish runs, it might push VET price above $0,48 level.
- Sunny Lu VeChain Price Prediction
The Co-Founder & CEO of VeChain Sunny Lu at the Blockshow Asia 2019 in Singapore said that more valuable transactions and business applications on the blockchain would drive “more value for tokens.” Following up on the recent launch of the first cross-continental logistics and trades blockchain solution for the food industry by VeChain, a new bull market for the coin should be expected right about the corner.
- Hacken VeChain Price Prediction
A blockchain cybersecurity firm Hacken has moved its business from Ethereum to VeChain blockchain, stating that the VeChainThor blockchain is “the best available option in the market.” This is good news for the coin as the project continues singing loud partnerships, and the price of VET reacts correspondingly.
- Young And Investing VeChain Price Prediction
“Currently, we really going very well. It’s [VET] really going back very very strongly,” says Young And Investing, a crypto-focused channel. The channel predicts the next key level to watch is at 102 satoshis per 1 VET.
VeChain Price Prediction Verdict
It’s obvious that VeChain is one of the few projects that have a real use-case. VeChain’s reputation confirmed by its wide variety of partners and top headlines on major media outlets. The coin news always triggers buy signals, but many in the crypto community confused by the issue of centralization. One way or the other, everyone agrees that a project of that level with such partners is fated to become a key player in the industry in the mid-term perspective. And yes, the coin is able to hold and is exchangeable in Atomic Wallet.
How to buy VeChain
Even though VET is currently unavailable to be bought directly via a Simplex payment processor, anyone can buy Bitcoin (BTC) or Ethereum (ETH) with a credit card and then exchange it on VET. To do so, you need to download the app and pass verification (photo ID is obligatory to confirm your identity).
How to exchange VeChain
The VET coin can be simply swapped thought the built-in exchange in the Atomic Wallet interface with over 300 ERC20-based tokens, including Bitcoin (BTC), Litecoin (LTC), BNB (BNB) and many more.