VeChain price prediction: Is VET a good investment?

Contents

• From the VeChain white paper
• VeChain price history: The early years
• VeChain gets bullish
• VeChain gets bearish
• VET coin price prediction
• FAQs

The VeChain, or VET, cryptocurrency is the native coin of the VeChainThor blockchain. The chain, which aims to help companies create dApps (blockchain-based software applications) that work with the Internet of Things, has gathered some attention lately, and the coin has responded.

What is the future of the crypto, though? Can we make a VET coin price prediction? These are the questions that this article will attempt to answer.

Before we do that, it is good to take a look at the crypto’s recent price history. While prior performance is no guarantee of future results, knowing how it has done so far, and how it has reacted to certain market events, can be useful when it comes to making a VeChain price prediction.

From the VeChain white paper

The ‘VeChain whitepaper 2.0’ describes the project’s vision and states: “VeChain believes that blockchain technology is one of the foundations for the next generation of information technology, alongside emerging technologies such as AR, VR, AI, IoT, 5G and more.

“With the technology’s immutable and tamper-proof characteristics, blockchain, as an infrastructural technology, is uniquely positioned to enable unprecedented value and data-transfer among a wide set of users in a trust-less manner, boosting the efficiency and authenticity of information transfer itself.

“VeChain’s vision of lowering the barrier and enabling established business with blockchain technology to create value and solve real-world economic problems has been clear to us from the very beginning.”

VeChain price history: The early years

For the first few years of VET’s existence and availability on the open market, there was neither much movement nor much growth. For instance, during the summer and autumn of 2018, it hovered around the $0.01 mark before dropping below the cent barrier, where it mostly stayed for the next couple of years.

It broke back through the cent mark in the summer of 2020 and hovered around that point – sometimes higher, sometimes lower – for the next few months.

By the end of the year, however, it was hovering around the $0.02 mark, and it ended up closing 2020 at $0.01878.

VeChain gets bullish

January 2021 represented a time of considerable growth for the VET coin. By the close of day on 3 January, it was up more than 38% from where it had been on 31 December 2020, standing at $0.02592. Three days later, it had risen a further 18.7% to $0.03079.

Clearly, this was a time for people to get interested in this crypto, as it looked to be smashing the VeChain price prediction. There was some fallback from this figure, though, and it spent the rest of the month mostly between $0.02 and $0.03, although there was a monthly high of $0.03505 in intraday trading on 21 January before it closed the month at $0.02542 – up more than 35% from the end of the previous month, but down more than 27% from the monthly high.

In February VET saw a time of even greater growth. The crypto market was really booming around this time, and VeChain was caught up in the action as more people looked to invest.

As a result, VET coin broke back through $0.03 on 5 February before breaking through to $0.04 on 11 February. The following day saw it go from an intraday low of $0.04254 to an intraday high of $0.06 – a rise of more than 40% across the course of the day – before falling back to close at $0.0547.

The very next day it hit February’s high when it reached $0.06044, but then it was time for the market to readjust itself and the coin closed February at $0.03966, up more than 56% from January’s close but down nearly 35% from the intra-month high.

In March, the VET coin price kept rising, breaking through $0.07 on 12 March and then breaking $0.08 on 15 March, $0.09 on 20 March and getting to the monthly high of $0.09902 on 22 March. There was some retreat to close the month at $0.08806, but while that figure was down by around 11% from the monthly high, it was still up a little over 122% from the previous month’s close.

April saw VeChain records broken again. The $0.10 barrier was surmounted when VeChain closed at $0.1026 on 5 April, while the $0.20 mark fell on 16 April. The next day, VET recorded its all-time high with an intraday score of $0.2782.

There was a fallback from this, however, and the month’s closing price of $0.2011 was down 27% from the record price, but up just over 128% month-on-month.

VeChain gets bearish

Initially, in May 2021 things looked reasonably good, with an intraday high of $0.250 earlier in the month, but then things started to slide, with the price consistently under the $0.20 mark from 13 May onwards. Things soon got much worse, though.

The great crypto day crash of 19 May hit the price of VET, which dropped 58% from an intraday high of $0.164 to an intraday low of $0.068. While there was some recovery at the end of the month, with the VET price at $0.126, that still represented a monthly fall of more than 37%.

June and July were pretty poor months for the cryptocurrency market as a whole, and VeChain was no exception. With many an expert revising their VET crypto price prediction downward at this stage, the best the coin could get to in June was $0.153 on 4 June.

Towards the close of June, the VET price dropped below the $0.10 mark on a consistent basis, and it closed the month down by 23% to $0.0961. July’s high did not come until right at the end of the month, with an intraday high of $0.09002 before a close of $0.08959 at the end of the month, down by just under 7% month-on-month.

August and September represented times of slow recovery followed by a decline. On 7 August, an intraday high of $0.1089 meant it had broken back through $0.10, while the monthly high of $0.1442 on 16 August was followed by a slight pullback to a monthly close of $0.1231, representing a 37% gain from the previous month.

Meanwhile, the 6 September high of $0.1570 was followed by a drop in price, reaching a monthly low of $0.0817 on 28 September before closing the month at $0.0951, down 22% from August’s closing price.

Finally, on 1 October, VeChain broke back through to $0.10, stabilising around that point before there was a growth spurt at the end of the month. It reached a monthly high of $0.1477 on 26 October, with the closing price of $0.1327 up by nearly 40% month-on-month.

There was some consolidation of the coin’s value in November, but by 3 December the coin was valued at $0.11.

From December 2021 into the new year was a difficult time for crypto and by 24 January 2022 the coin reached a low of $0.044. There was a slight recovery and by 10 February the price of VET was trading at approximately $0.06364.

Now that’s out of the way, let’s take a look at what some VET coin price predictions say. It should be noted that forecasts for the future are usually made by algorithm, are subject to change and can very often be wrong, but they are still worth taking as a starting point.

VET coin price prediction

WalletInvestor says the VET coin price should be $0.142 in a year and $0.451 in five years.

DigitalCoinPrice suggests a value of $0.09 in June 2022, representing an upswing of over 40%.  However, the forecaster expects volatility over the coming years, with the coin being worth an average of $0.10 in 2023 and 2024. In 2027, the coin is expected to be worth $0.17, but continue an upward year-on-year trajectory to $0.35 in 2029. 

Meanwhile, PricePrediction.net says the average VET coin price prediction should reach a maximum price of $0.11 in 2022. The forecaster suggests an average price of $0.13 in 2023, and $0.19 in 2024. The VET coin price prediction for 2025 is $0.29. The site’s VET coin forecast for 2026 predicts an average of $0.42, while it should be about $0.61 the following year. In 2028, the average price forecast is $0.93, while in 2029 it is $1.34. The site’s average VET coin price prediction for 2030 at $1.91.

Finally, Gov.capital’s VET coin price prediction for 2022 suggests highs of $0.16 in November. The site suggests that VET coin will reach $1.00 in February 2027. 

FAQs

Further reading