VeChain is making a scalable and accessible blockchain for large businesses to use, and it has already attracted some big names such as H&M’s sister brand Cos, whose clothes are available in Europe, Asia, North America, the Middle East and Australia.
VeChain is hoping its blockchain will solve real-world problems such as transparency and efficiency. The VeThor Token is used for blockchain fees. The VTHO is a VIP-180 Standard token, which represents the cost of using the VeChainThor blockchain.
This article will show you about VTHO price prediction. Will VeThor Token go up? Let's see.
What is VeThor Token (VTHO)?
VeChainThor’s vision is to make blockchain technology more accessible for businesses to use. The VeChainThor blockchain was designed to be a sustainable and scalable network, which the company hopes will drive its adoption.
The intention is to achieve this goal through high processing speeds and open-source code that encourages app development. VeChainThor hopes the growing acceptance of its blockchain technology will solve real-world economic problems and “create an ecosystem with value”.
The blockchain underwent a rebrand in 2018 that resulted in the launch of the VeThor Token (VTHO), part of a dual-token system with the VeChain coin (VET). VTHO is used for the everyday running of the blockchain, as payment for transactions, and is mainly implemented in the blockchain’s smart contracts.
Meanwhile, VET is used as a store of value and to mint VTHO tokens. VET is currently ranked number 33 on CoinMarketCap, while VTHO is placed at number 274. Before looking at whether VTHO has the stamina to catch up with its crypto sibling, let us first explore its history.
VTHO’s price history
VTHO launched on 30 July 2018 as part of the blockchain’s rebrand. The token opened at $0.03 and was able to sustain the level for a short period, but within the next two weeks, VTHO plummeted to around the $0.003 level. So far, it has never managed to get back to its launch price.
There doesn’t seem to be a clear reason for VeThor Token’s dramatic drop, it’s just evident that VTHO was unable to maintain its high initial valuation. The bearish crypto market that year couldn’t have helped, either.
After September 2018, the price of VTHO stayed between $0.0001 and $0.002 for the next two years. Things started looking more positive for the token in 2021, though, and it came close to reaching a new all-time high.
Like the wider crypto market, VeThor Token started 2021 on a bullish trend. By the end of January, VTHO had climbed to $0.001. This came after the announcement of a new VeChain mobile wallet called Sync 2.
The goal of the wallet was to simplify the use of decentralised apps (dApps), making them as simple as the apps we use on a daily basis. Sync 2 fits perfectly with VeChainThor’s mission statement, to bring blockchain technology to the masses.
VTHO saw its first peak of the year on 13 February 2021, when it reached a high of $0.008. The price fell slightly afterwards, but it wasn't long before there was another price surge.
On 15 March 2021, VeChainThor launched a testnet of an update to its decentralised exchange, named Vexchange 2. Known as the Uniswap for VeChain, Vexchange allows its users to swap, send, pool and farm tokens. The update was well received by the community and VeThor Token broke past the $0.01 barrier the following day for the first time since it launched.
The price continued growing and by 21 March 2021 it reached $0.02. One news site wrote: “The boost in VTHO is in line with the overall surge seen in gas tokens as the search for Ethereum network alternatives grows due to the high cost of transactions on that platform.”
VeThor Token did not correct: instead it kept the momentum going. The token raced to $0.024 on 16 April 2021 and $0.027 the following day.
Massive demand
Nasdaq pointed towards the massive demand for the blockchain that was driving its surge. Large businesses and enterprises were using the network for supply and logistics management.
COS, a clothing store and brand owned by H&M, revealed in late April 2021 it would start using VeChainThor. It said in a press release: “VeChain is able to enhance the brand’s profile by proving authenticity of purchased goods as well as demonstrating the sustainability of its raw materials with consumers.”
After peaking at the end of April, VTHO started to drop over the following months, falling to $0.004 by 20 July 2021.
It did see another price surge in August, however. A new partnership with cryptocurrency start-up Simplex was announced on 13 August, which allowed users to buy VET with fiat payment options, such as credit cards, Apple Pay and others.
VTHO reached $0.015 two days later, but was unable to sustain that price and resumed falling.
It climbed to the $0.01 level again in early November 2021 when VeChain launched the testnet of a blockchain upgrade called proof-of-authority 2.0. Without getting too technical, this update provides new tools, architecture and security to keep in line with VeChainThor’s mass-adoption goal.
Again, VTHO was unable to sustain this price and dropped back below $0.01. It got close on 27 December 2021 when it reached $0.007 after it was announced that the token would be listed on the WhiteBit exchange.
VTHO in 2022
VTHO opened on 1 January 2022 at an unremarkable $0.006061, when a prolonged bear already had its teeth in the already volatile crypto markets. Even the heavyweight Bitcoin had lost over half its value from its all-time high of $68,530.34 on 9 November 2021 when it sank to $17,708.62 – its lowest value of 2022 so far – on 18 June.
VTHO also saw considerable downward momentum in a similar pattern. Despite performing well in November, hitting highs of $0.01289, the downward trend continued well into Q2 2022, hitting lows of $0.001235 on 18 June 2022.
However, there were some considerable uptrends. In early April, VTHO saw trading highs of $0.005084. But, as macro headwinds drive the price of VTHO, some hopeful crypto speculators are waiting for a price breakout, while others suggest the crypto winter might drive prices down further.
The cryptocurrency economy has shed a lot of value over the past six months, losing $2trn since the height of the massive rallies in 2021.
As of 2 August and at the time of writing, the token is trading at $0.002026. Will both the token and the wider crypto market be able to break free of the bear’s stronghold?
VTHO price prediction
A bullish future is predicted by CoinQuora, which thinks VTHO could break the $1 mark in 2024. The site’s VeThor Token price prediction for 2022 says VTHO could reach $0.01548 by the end of the year. It wrote: “With upcoming partnerships and developments, reaching $0.02 is quite optimistic in the price point of view but undoubtedly feasible for the near future.” Its VeThor Token price prediction for 2025 is even more optimistic, with CoinQuora forecasting a price of $2.00.
A “bad” long-term future is predicted by WalletInvestor, which estimates the token will be worth less than $0.0002 by the end of the year, and not make any substantial recovery thereafter.
PricePrediction.net offers a more optimistic projection, with its VeThor Token coin price prediction estimating VTHO will reach $0.003 in 2023 and $0.006 in 2025. Its VTHO crypto price prediction for 2030 is $0.039.
DigitalCoinPrice’s VTHO price prediction is less bullish. It forecasts the price will only reach $0.00382 by 2025. DigitalCoin makes a VeThor Token price prediction for 2030 of $0.00939.
The future of VeChain and VeThor depends on whether enterprises are willing to make the jump and adopt its blockchain technology. Some large businesses such as Cos have already taken the plunge, but only time will tell whether VeChain can continue encouraging businesses to join its platform.
How many VeThor Token coins are there?
There is a current circulating supply of 45.63 billion VeThor Tokens and there is no maximum. Tokens are generated through the blockchain’s other native token, VET.
Is VeThor Token a good investment?
It might be. VeThor Token has demonstrated huge growth in 2021, breaking past $0.01 for the first time since its launch in 2018. However, the coin has since crashed back down to $0.002026.
Do remember that cryptocurrencies are extremely volatile – never invest more money than you can afford to lose.
Will VeThor Token go up?
It might do. The general consensus from VeThor Token price predictions is for the token to increase over the next eight years. CoinQuora estimates it will reach $2.00 by 2025 while DigitalCoin predicts a value of $0.00942 by 2030.
Price predictions can be wrong, however, so you should always do your own research before investing.
Hope this article can provide you with a better understanding about VTHO price prediction.
