VeChain is an altcoin project, which focuses on the logistics sector. The team is very ambitious and has entered into various collaborations with large companies. Take for instance the Chinese branch of Walmart, a large American supermarket chain.
What are the future projections for VeChain's exchange rate? In this article, we'll look at the projections.
Safely buy your VeChain
Buying, selling and managing VeChain all in once place? BTC Direct is the place to go. Create a free account right now.
Is now a good time to buy VeChain? Below we give you the short-term projections of Tradingview:
Historical price analysis of VeChain
VeChain started off as an Ethereum token, but since July it has its own blockchain. Back then, VET started with a value of 0.02 €. But within a month, the exchange rate plummeted to 0.006 €.
Until November, VET struggled at a price level of 0.01 €. In mid-November, the entire crypto market crashed and VeChain was no exception. The coin closed the year with a value of 0.003 €.
In the first quarter of 2019, the price of VET got stuck within a margin of 0.003 € and 0.004 €. By the end of March, the exchange rate broke out, and the price hit a high of 0.008 € in June.
VeChain couldn't maintain this price, however. The exchange rate plummeted and reached a depth of 0.002 € in October. That was a perfect moment to buy the dip, in 2019. Within just one month, the price rose to 0.006 €. VET concluded the year with a price of 0.004 €.
VeChain started off the year well. In February, the coin reached a value of 0.007 €. But in March, things turned sour. The Coronavirus Pandemic, the global lockdown and travel restrictions had a deep impact on all financial markets, and VeChain could also not escape the consequences.
Midway into March, VET's exchange rate crashed, reaching a bottom of 0.002 €.
That was the starting gun for the new bull market, during which VeChain broke record after record. In July, VET broke the magical barrier of 0.01 € for the first time since 2018. One month later, the price had even doubled.
By the end of summer, it wasn't just the temperature that decreased. By the start of November, VET was only worth 0.008 €. After that, however, VeChain continued upwards: the coin closed the year with a value of almost 0.02 €.
Will VeChain rise in 2022 - 2025 ?
Prefer to watch a video? Check the projections for VeChain for the next few years here.