Whenever people hear the word Cryptocurrency, the instant thought that they have is of Bitcoin. But Bitcoin is not a synonym for Cryptocurrency. In the series of educating people about different cryptocurrencies, today we’re going to discuss one of the many digital coins, VeChain. This article will feature the introduction to VeChain Token, its market history, China’s support to this digital asset, current market situation, and to complete this meal, VeChain Price Prediction will be served as a dessert.
VeChain: An Introduction
VeChain is a blockchain-based supply network just like Ethereum. It has a motive of creating an ecosystem of supply chains that is flawless of some of the major problems of inefficiency and lack of transparency. Launched in June 2016, VeChain is created by two of the well-known faces in the cryptocurrency industry, Sunny Lu and Jay Zhang.
The platform uses two tokens, VET and VTHO. Its idea of removing inefficiency and increasing transparency in the supply chain system is an important factor to analyze while VeChain Price Prediction.
Price History and Current Market Position
From its inception, the token was plain until the start of this year. It witnessed a huge surge from Jan 2021 but has slowed down since the past month of May. At the time of writing this letter, the token is trading between $0.1271-0.1339 with a 24-hr positive change of around 1.5%.
China’s support to the token
We all are aware of China’s restrictive policy on cryptocurrency trading in the country. But in contrast, China is backing the indigenous supply chain platform, VeChain which is also termed by some as Ethereum killer. The Communist party wants to get a hold of the crypto ecosystem through the VeChain platform. China’s influence is also a big factor that VeChain token witnessed a growth of almost 2000% since the start of this year.
VeChain Price Prediction
- DigitalCoinPrice predicts that the said token will trade around $0.198 and by the end of 2025 the price may rose to $0.395
- WalletInvestor says if the current trend is to be believed, VeChain will finish this year with the trade price of $0.343 and by the year 2026, 1 token would be valued at 1.191 USD.
- PrimeXBT predicts by the end of 2025, this token may trend around $1.20.
Well, different analyses have different numbers but one thing is common in these above VeChain Price Predictions, that this coin holds great future potential and can be a good investment. But it is advised to tale these predictions with salt.
Also Read: WazirX Review: How good is WazirX crypto exchange for Beginners?
Stay with Global Coverage for more Updates
