Updated July 4, 2021: Vechain didn't see the end of the year that they was hoping for after a security breach during the month that ended 2019. Vechain Foundation lost VET tokens worth $6 million. This breach was caused by human error that caused the resignation of the CFO. After the Foundation did issue an announcement that claimed to have rectified the error, they left the decision of whether to burn the stolen tokens or not to the community of Vechain.
Vechain Collaboration with Amazon Web Services
VeChain and Walmart China Work Together To Create A Food Safety Platform
Vechain price prediction. TradingView Analysis Updated April 11, 20, 21, 21
The use of blockchain technology by the Chinese government will probably help the VET token in a significant way both financially and in terms of price. Last October, Xi Jinping, President of China, stated that blockchain technology will play a key role in the development of new technologies and industrial revolution.
In this article we will examine some of the most reliable predictions by experts, technical analysis, and recent events that hold the potential to push VeChain price higher this year.
Are you seeking the most convenient location for Vechain's VET to be traded? On Binance you can trade for Vechain's VET token using ETH, BTC or BNB.
Experts' View On What to Expect From Vechain Will Rise
It is crucial to keep an eye on what experts in crypto have to discuss the future value of your favorite coin. While their predictions may not be precise however they definitely impact the market. Let's look at some expert opinions about Vechain price prediction.
Roger Ver, also known as "Bitcoin Jesus" and one of the most well-known voices in crypto, believes VeChain is on the right path to an exciting future. Ver believes that the platform's primary mission is to solve real-world problems and it has applications that serve a wide range of industries. Ver said that, while he's fascinated by the blockchain technology that allows a non-permissionless peer-to-peer digital currency system, VeChain has some exciting methods of using it to stop counterfeit goods and make P2P markets that are permissionless more reliable.
Tim Draper, a Silicon Valley legend, a renowned investor in a variety of firms, and a big believer in digital currencies has joined the VeChain team early last year. The VeChain Foundation praised Draper's move, stating that Draper and the platform share a similar idea about the future of blockchain and cryptocurrency solutions.
In 2020 the price of VET is expected to experience a series of spikes. If the altcoin market shows significant bullish momentum, this could push the value of the token towards the $0.5 mark. We have already seen that the digital currency hit a peak of $0.23 in 2021.
Everything will clearly depend on whether the digital currency follows the trend led by Bitcoin (BTC). VET currently stands at 13th place globally and is likely to increase in the near future, as long as the bullish trend continues.
Vechain Price News
VeChain has risen over 100% in the month of March, breaking the 200-day exponential moving average (EMA) for the first time since summer 2018. The coin also broke a 14-month-long downward trend within the same time frame. The rises can be attributed to Chinese president Xi Jinping embracing the blockchain technology.
As we have mentioned earlier, VET price is currently $0.23 and has a market valuation of $14.79 billion.
The outlook and price prediction for the next 3 to 6 months will be cautious. However, cryptocurrency prices can fluctuate rapidly and any price change could occur. For instance, BNB in 2021 saw its price go up from $40 to $500 USD in only three days.
Based on the factors we have considered, our price of Vechain price prediction is between $0.015 to $0.040.
This is due to these factors: the cost of the THOR tokens (VTHO) and its usage as well as transactions on VechainThor. But, there are additional things to be considered.
If the market begins the new bear market and we witness the coin slipping downwards in the next few months. Additionally, VeChain is working with various companies like PWC and Salesforce in order to offer new enterprise-level solutions to clients.
Disclaimer: We are not financial advisors and the advice presented in this article should not be construed as investment advice. This information is provided to educate only. This guide is not meant to be a substitute for professional advice.
The Effects of Vechain Thor on the Price of VET
A lot of people think that VET token's value will be determined by the THOR it generates. What is the value of THOR then? Well, we know that the minimum rate of production is going to be .00042 the THOR for each VET day, but how much is 1 THOR worth?
We're not sure yet. Due to the low volume, there's not been any THOR price changes over the past two months. Many seem wanting to hold their THOR until they see an increase in volume the price.
It is only available exclusively on the LBANK Exchange. The situation will change as OceanEX's trading platform goes live at the end October.
OceanEx will operate the VechainThors Blockchain Platform. Holders will have the option to convert or reinvest VTHO directly into VET and increase the VeChain price. This could be one of the many reasons why VET price may rise.
THOR demand will increase when Vechain's business partners begin to use the blockchain. As the project "comes into being" all parties will be in the process.
Many companies are currently running test transactions on the test net. However, this will change soon. We expect a migration to the main network in the near future. This will permit an increase in smart contracts and transactions numbers to be recorded before the year is over. Veforge allows you to monitor transactions.
There are numerous other alliances between VeChain and well-known companies in the market. The Norwegian Royals for instance, witnessed VeChain's and DNV GL agreements a few months ago. This is definitely a positive sign for the whole cryptocurrency market which is growing on a daily basis.
The prices of VET will come at risk as more transactions are completed
The larger the number of transactions and smart contracts in the chain means that the more VTHO is burned. The transactions will require VTHO to be burnt.
To execute blockchain writing, more VTHO will be burned. This could force companies to place more VTHO available for sale. This could boost the worth of VTHO. If an organization doesn't wish to take this route, it could buy VET and create its own THOR. This is a move which should see an increase in the price of the native coin (VET), still boosting the value of holders.
As all this is happening, Vechain is currently in talks with the Chinese government about establishing the next carbon ecosystem with multiple participants (large enterprises) that could. Participate. This is more than BYD's Carbon Credit application to electric vehicles. Vechain could end up being the main blockchain used by an entire ecosystem of the "tracked" economy in Chinese initiatives.
Collaboration Between Vechain and Amazon Web Services
On the 18th of February VeChain announced that it had partnered with Amazon in a move that will see the cryptocurrency's network grow and also boost its value over the next few months. The one-click connection of the blockchain solution to Amazon Web Services will enable numerous businesses to swiftly and safely deploy blockchain-based applications.
Amazon Web Services logo
The integration will take place through VeChain's Blockchain as a Service (BaaS) that was introduced in 2016. This platform offers a variety of solutions, including NFC-RFID chips, an IT-related services for enterprises, as well as blockchain encryption.
The BaaS platform will now allow diverse businesses to develop and run their own blockchain-based applications, even if they don't have any technicality. It will be easier for companies to manage their smart contracts in the cloud.
The one-click service VeChain's BaaS solution will utilize the AWS CloudFormation platform and permit customers to deploy just one click. This will eliminate the tedious manual deployment process which is associated with the growing market.
VeChain was thrilled by the collaboration and has seen a 16 percent rise in its stock price over the past 24 hours. As VeChain grows into the most popular blockchain platform, this positive momentum is expected to continue for the next few months.
VeChain and Walmart China Work Together To Design A Food Safety Platform
Walmart China has recently announced the introduction of a brand new VeChain powered food traceability platform. The aim is to offer consumers the ability to get more information regarding the quality of the food they are purchasing.
The QR codes on diverse products produced from China can be read by customers to help to understand the manufacturing process.
Wal-Mart is committed to being a respected retailer by its customers. Wal-Mart has been working hard to improve the quality of food, food safety management and other areas of its operations since it began its journey into China 23 years ago. Wal-Mart will be a leader in the field of commodity retromanagement within the retail sector with blockchain technology.
The new system of traceability will permit fresh meat that is traceable to make up half of all fresh meat sold in packaged packages. Vegetables will make up 40% of the total packaging vegetable sales. Traceable seafood will make up 12.5 percent of total seafood sales by 2020.
This is vital for VeChain owners who wish to understand how the currency will behave in the near future. According to VeChain Insider, the recent increase in transactions on the VeChainThor blockchain could be due to Walmart being on-chain for the first time with 23 products.
All transactions require VTHO created by VET. Every day, 37 million VTHO are produced. Everyday more than 20 million VTHO is also burnt. The volume of transactions could increase since Walmart plans to expand the platform by another 100 product lines.
It's worth noting that this is only one of VeChain partners. Since the product has shown positive results in Walmart China, there may be new companies interested who are interested in improving their solutions through using blockchain technology via VeChain.
VeChain's team claims that there are over 2 million transactions per day with Walmart China. VeChainThor will be a more extensive network than Ethereum (ETH) and Bitcoin (BTC).
There are also other companies all over the world who use blockchain technology to monitor different items at the grocery store. This would allow individuals to get more information on the products they have purchased at different shops across various countries.
Fundamentals are essential for the cryptocurrency network. It is essential that crypto and blockchain-related projects are in operation during periods of low market growth or bear markets. They must also strive to enhance the services they offer to users. VeChain continues to grow in the market. Since August 1st the total number of accounts with more than 1 VET has increased by more than 4 percent.
It will be very important for companies to accept VeChainThor and enhance the services and products offered. This will help boost the popularity of VeChain and help raise the price of the VET digital asset. To maximize the value of this digital asset, the expansion of partnerships and agreements could be very positive.
This analyst shares valuable information regarding the market for cryptocurrency and VeChain. He points out that there's been a significant change in investor sentiment and feat of the continuation of a total fall in the price. There has been an overall consolidation in the levels of these, as evident by the recent surge in trading volumes between 0.66 USDT & 0.75 USDT.
He believes VET may move higher and could be close to 0.116 USDT or 0,12 USDT. The VETBTC chart is then examined by him. He reveals that sellers were able to establish a foothold within the lower part of 0.00000236 and 0.00000236.
For the VET/USDT trading pair The analyst has shown that the virtual currency is now following the same trend as the largest virtual currencies in the market. This is evident in how the cryptocurrency experienced an upward trend that was able to reach a high of 0.28 USDT per coin and after that it experienced the "brutal" market correction.
Furthermore, it is also possible to see the price trading between the resistance and support areas that are displayed in the chart. If the price is higher than the resistance zone, we might see a reversal.
Let's go on with VeChain (VET) with an analyst who says that this weekend is likely to be "big" for the cryptocurrency. He says that there's an important resistance that needs to be broken. The first is close to $0.14. This indicates that the virtual currency is in a position to move higher.
If the price of the digital asset decreases, it could reach $0.10 per coin in the worst-case scenario. This could be a good thing for those who want to join the market at lower prices. VeChain is the sole cryptocurrency on the market today that is addressing data, supply chain, and logistical problems.
Recent FUD developments in the cryptocurrency market have had a huge impact on the VET Price Prediction. This has affected a wide range of users all over the world who were investing in the rapidly growing digital currency.
The analyst provides a four-hour analysis of VeChain. He explains how the coin changed into support structures previously bouncing on local views. In addition, VET has developed the down-sloping channel which is also compatible with the wave count as a part of an A B C form.
It is crucial to know the reason VET is moving closer to lower support levels and how VET manages to recover from these in the near future.
Analysts believe that the USDT/VET trading pairs have a bullish sign that the structure of the triangle is set to break. He said on the chart that he believes there might be a breakout occurring at these levels.
