VeChain is one of the best cryptocurrency since the “Cryptocurrency Boom” in 2017. VeChain describes itself as ‘a pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco’. The project of VeChain was started way back in 2007 and since then it has been optimized to a new level. VeChain falls under the group of ‘Oldest Projects’ in cryptocurrency. It was ranked at #16 after the initial of Cryptocurrency Boom.
VeChain was originally fabricated by Sunny Lu and DJ Qian and its important reason for creation were to solve Physical-World Industrial problems using Blockchain-based Solution.
During its launch, it was mainly focused on Supply chain solutions to create effective methods against counterfeiting and unauthorized sale of any item. To bring this effect into the picture, VeChain collaborated with companies such as Kuehne & Nagel, Renault, PWC, DNV GL and with the government of Gui’an, China.
VeChain is planning to create Ethereum like platform through which smart contracts and decentralized apps (DApps) can be based upon. This is the brief of what is VeChain, now let’s get to the statistics of VeChain.
Vechain price Analysis
Since the start of VeChain as a cryptocurrency, it has major downtrend and has dropped from #16 to #34 in two years and it still continues to follow the downward fashion (Bearish). The total supply of VeChain is 86,712,634,466 VET (VET is the stock symbol of VeChain in the crypto market).
The circulating supply of VET as of recent data is at 55,454,734,800 VET and has a market cap of $223,120,335 USD and its value in Bitcoin is 22,364 BTC. The Volume OF VET in 24 hours stands at $33,508,028 USD and in Bitcoins, it is 3,359 BTC.
VET had all-time high of $0.019775 USD on 4th of September, 2018 and its all-time low of $0.003274 USD as stated on 15th of December, 2018.
Since the past week, VET traded the highest at $0.004420 USD and the lowest trade was at $0.004007 USD. In the 24 hours mark, it traded the highest at $0.004094 USD and hitting the bottom at $0.004094 USD. Since yesterday VET reduced by -2.18% ($-0.000091 USD).
The net volume as of Yesterday is $30,861,368 USD. The trade ended when the VET was low as compared to the trade open in the morning, the continued downtrend of VET might actually suggest that VET will not gain back on margin and suggests breaking of VeChain.
Vechain Price prediction 2019 and 2020
VeChain is now trading at $0.003923 USD. Checking out the data of VeChain since its start, the investors looking for positive ROI (return on investment) aren’t very happy because of continuous bearish behaviour.
Short term Investment on VET is a serious no-no as per many investors and other resources because of the negative ROI, Since the launch of VeChain, its ROI stands at -73.25%.
Long term investment in VET can’t be predicted accurately as the graphs of VET show Bearish sign and is definite of following downwards. But considering the factors such as Market movement, Development of VeChain, technological advantages etc. there might be a chance of VeChain going bullish in the coming years.
Vechain Future Price 2019, 2020
- TradingBeasts: TradingBeats Predicted that Vechain Price is Likely to hit $0.0136 by the end of 2019, The VeChain price is forecasted to reach $0.014 by the end of 2020. The expected maximum price is $0.0186306, minimum price $0.0126688. Both of which isn’t unrealistic looking at the widespread adoption of Vechain and mainstream partnerships
- DigitalCoinPrice: Another prediction is by Digitalcoinprice and they stated the Vechain Price will reach increase up to $0.0082 by 2019, up to Up to $0.00808791 by 2020 and in 2025 the VeChain will reach up to the value of $0.01935737.
- WalletInvestor: The WalletInvestor analyze the price of VET and their prediction is bearish as per their prediction vechain VET is likely to lie between $0.003 by the end of 2019, $0.0014 lower than the current price. As per the analysis of WalletInvestor VET price will reach up to the value of $0.000620 by the end of 2020.