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 plenty of press attention lately.
What about VeChain price prediction?How high can VeChain go in 5 years? These are the questions that this article will attempt to answer.
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. 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 nudging 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 close 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 though VeChain price predictions. 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 2021 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 2021, VET saw a time of even greater growth, closing the month at $0.03966, up more than 56% from January’s close but down nearly 35% from the intra-month high. The VET coin price kept rising, breaking through $0.07 on 12 March and then $0.08 on 15 March, $0.09 on 20 March and getting to the monthly high of $0.09902 on 22 March 2021. 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 2021 saw VeChain record 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, albeit up just over 128% month-on-month.
VeChain gets bearish
The great crypto day crash of 19 May hit the price of VET, which fell 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 2021 were pretty poor months for the cryptocurrency market as a whole and VeChain was no exception. The VET price dropped below the $0.10 mark on a consistent basis, and it closed June 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 2021 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 2021 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 2021 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.
On 1 October 2021, 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.
By 3 December 2021 the coin was valued at $0.11. December 2021 and 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 but on 14 March 2022, the coin was trading at a low of $0.04547.
VeChain in 2022
Despite the disappointing lows in mid-March, VeChain continued to show promise as new developments for the protocol surfaced.
On 23 March, Draper University announced its partnership with VeChain, launching a Fellowship and Web3 accelerator program. After a stale first quarter, the crypto market hinted at some sign of rebound towards the end of March. VeChain enjoyed some positive price movement as a result and, by 31 March 2022, the coin was trading at highs of $0.08906.
However, the recovery was short-lived. Worse news was to come in May after a market-wide crash sent most cryptocurrencies into freefall: VeChain sunk to $0.02412, its lowest value in over a year.
VeChain remained stuck in a downtrend in the prolonged bear market, despite announcing numerous successful partnerships. The project announced a collaboration with Amazon Web Service to build the VeCarbon emission management software-as-a-service (SaaS) system, to help China achieve a carbon neutrality goal by 2060. Further to this, on 10 May 2022, a new report published by the Foundation stated that its treasury was in a healthy state, with over $1.2bn assets in stablecoins, ETH, BTC and VeChain’s native token.
In June, the blockchain formed another partnership with the mixed martial arts organisation Ultimate Fighting Championship (UFC). However, following another market-wide crash, by 19 June the token plummeted to a low of $0.0232. The token has largely traded sideways around that price point and as of 22 August, the token is trading at $0.02543.
It should be noted that forecasts for the future are usually made by algorithm, are subject to change and can often be wrong, but they are still worth taking as a starting point.
VeChain price prediction: How high can VeChain go in 5 years?
WalletInvestor forecasts that the VET price in a year’s time will be less than $0.0025, and does not expect the token to recover, suggesting it is a “bad long-term (one-year) investment”.
DigitalCoinPrice’s VeChain price prediction suggests the coin could reach $0.0357 in September 2022 and $0.0352 in December. However, the forecaster expects slow growth for the next two or three years, with the coin being worth an average of $0.0376 in 2023, $0.0378 in 2024, and $0.0510 in 2025. The coin is expected to continue an upward year-on-year trajectory to $0.12 in 2030.
PricePrediction.net has a VET coin price prediction that says the coin should reach a price of $0.033 in September 2022 and $0.036 in December. The forecaster suggests an average price of $0.055 in 2023 and $0.079 in 2024. The VET coin price prediction for 2025 is $0.11.
The site’s VET coin forecast for 2026 predicts an average of $0.17, while it should be about $0.25 the following year. In 2028, the average price forecast is $0.38, while in 2029 it is $0.54. The site’s average VET coin price prediction for 2030 stands at $0.77.
Finally, Gov Capital’s VET coin price prediction for 2022 is more bullish in the short term, hitting $0.0145 by the end of August. A steep uptick in pricing is forecast, with the token reaching $0.13 in a year’s time, and an impressive $0.77 in five years’ time.
Hope this article can provide you with a better understanding about VeChain price prediction: How high can VeChain go in 5 years.
