At the beginning of Jan 2021, VET was trading at $0.019, that is 598% up. This is an brilliant performance, and I hope it is a good sign for VeChain's future.
As of today morning, July 2021, VET token had fallen to $0.083 per token. However, this altcoin has a every chance in the world to perform well rest of the year.
What is VeChain ?
VeChain is a blockchain based supply chain network. VeChain uses Internet of Things technology to create a network which solves majority of the issues associated with supply chain management. This idea will boost transparency and reliability of supply chains by reducing operational costs and giving more control to individual users.
VeChain was created by Sunny Lu, who was the ex-CIO of Louis Vuitton China. He has bought attention to the capability of blockchain to overcome transparency problem, by creating a trusted network which do not face the corruption wall.
VeChain is a innovation to the existing supply chain system, an industry which will be benefited by this amazing blockchain technology.
Using transparency technique with no defect or complete user control provides top level security, improves efficiency and eases the products tracking process. This will also helps in reducing the cost through automation. VeChain’s blockchain model looks so appealing to enterprises looking to cut-off the supply chain friction and give a good impression to their customers by this transparent process.
Is VET a good buy ?
VeChain’s is a blockchain network and it's VET token is mainly focused on improving the supply chains and logistics system. As a result of this, many large enterprises are now planning to use VeChain for inventory tracking process.
As per some studies, $300 billion worth of food and supplies could be tracked on blockchain by 2028. Walmart is already touch with IBM and established the Food Trust Blockchain with several other supply chain companies to track food and parcels. A Norwegian company called DNV has partnered with VeChain. Even, PwC is in talk with VeChain for growing their business.
Price Prediction for 2025
VET has strong potential to reach high price marks because of it's contribution to the supply chain system. The VET token might climb from $0.0959 at the start of July to end the 2021 at $0.195. By 2022, it could reach the $0.38 mark and probably reach $1 in 2026.
Disclaimer
All these investment ideas and price predictions are based on my personal views and some crypto resources, hence it should not be considered as a Financial recommendation.
- " Happy Investing "
