VeChain Thor (VET) is the native token for the VeChain blockchain. It is a unique cryptocurrency asset created to support an enterprise-focused system for streamlining business process solutions, supply chain management and traceability. At the same time, this is about reducing costs and giving individual users more control.
VeChain’s platform itself uses two different tokens: VeChain Thor (VET) and VeChain Thor Energy (VTHO). VET transfers value across the network while VTHO acts as a transaction fee gas, similar to NEO’s Gas token or Ethereum’s gas. VeChain started as an ERC-20 token under the VEN ticker. However, the supply assignment, name, and ticker changed after the move to its own mainnet.
Sunny Lu and Jay Zhang started VeChain in 2015 and the platform launched in June 2016. Lu is an IT manager who was formerly CIO of Louis Vuitton China. Zhang leads VeChain’s global corporate structure, governance and financial management. He previously worked for both Deloitte and PriceWaterhouseCoopers in finance and risk management. VeChain is one of the first dedicated blockchain platforms on the market for supply chain.
VeChain holds great promise due to its potential to fill a gap and its wide application in a variety of industries. For example, the luxury goods market is worth billions, but counterfeits break profit margins. VeChain contributes to authenticity by being able to trace the origin of the product to the consumer’s door upon delivery.
VeChain started trading as VEN and so there is very little history about the price action for the new token, VET. In late 2018, VET started its price history during the peak of the bear market. Due to this, the price action was mostly bearish, which is not a good sign for token. However, VeChain price rose to $ 0.015 per VET token due to initial mainnet hype and exciting VeChain news.
Later, in March 2020, the price of the VET coins fell to $ 0,0002 on Black Thursday. Still, it bounced back hard to $ 0.02 per token. Meanwhile, the VET rate has risen to a new ATH reached $ 0.1795 on April 15, 2021. Chances are, Bitcoin isn’t done running wild just yet. This means more bull runs for altcoins in 2021. If you decide to buy, this is the designated exchange. Lowest fees & best conditions.
VeChain is expected to be 2021
For real-world business activities, VeChain will focus on business applications and dApps. The Vechain Foundation also plans to provide SDKs, developer documentation, tools and smart contract templates, along with ready-to-use package templates. These can be aimed at the issuance of tokenized assets, wallets for digital asset management and data storage.
In addition, VeChain will work to expand its partner network and help them become experts in VeChain technology.
Short term forecast VeChain
The last few months of 2020 and the beginning of 2021 must have made most crypto fans super happy. Not only did Bitcoin break all resistance levels and continue to set new all-time highs, but most altcoins followed suit. In addition, their dollar value skyrocketed and there were a few short but very profitable bull seasons altcoins. Crypto predictions Italy is popular.
New and old altcoins shot through old record highs and set new milestones. VeChain was one of those altcoins that drew a lot of attention, far outperforming Bitcoin and the rest of the market. The question that every current and potential holder of VET is asking now is if that growth is sustainable and if VeChain can hit new record highs in 2021.
VeChain price is expected in 2021
VeChain will certainly succeed, especially when we consider the fundamentals of VeChain. On the technology front, the project has seen huge improvements. Community growth has been explosive, liquidity is plentiful, and real-world adoption is soaring. In addition, there were no major setbacks, no flaws in the code and exploits, the design turned out to be good so far.
Important, also no team conflict or division. The wait is only when VeChain will fully shine. It is not clear if this will take place in 2021. In any case, the first part of 2021 was great for holders, offering us a glimpse into VeChain’s capabilities. VET could reach $ 0.40 soon according to VeChain forecast.
VeChain is expected to be long term
VeChain price is expected in 2025
The forecast, VeChain 2025, according to experts, is highly speculative. It therefore remains difficult to indicate with certainty how a cryptocurrency will grow. And also to calculate exact amounts.
Still, the expectedting that DeFi will grow significantly in the next 4 years. In addition, the first steps towards creating a virtual reality will be enhanced and supported by decentralized projects. This focus area is very important to VeChain and the project will continue to function as a basis for stock management of luxury items. France Cryptocurrency is popular.
VeChain is increasingly successful in building a blockchain-based platform that is not limited to the digital world. By the way, it is one that can also integrate with the actual business ecosystems. For companies, this means that they can control various functions themselves with the VeChain blockchain.
Successfully fully merging VeChain’s blockchain-based platform with the actual business world makes it easier for businesses to adopt blockchain. The total market cap of the crypto industry is expected to surpass that of gold by 2025. Now it sits at around 10 trillion which would mean the whole market could be close to 10x from now on.
Probably about half of this value is tied up in Bitcoin and Ethereum. The remainder will certainly be spread across fundamentally strong DeFi-related projects, such as VET. If this is the trend in 4 years, it is not unreasonable to predict that the VET dollar rate will reach a price of $ 10 by the end of 2025.