The project is currently partnering with renowned companies such as Renault and BMW. Moreover, VET operates on its own blockchain.
However, the success in the development of the partnership had almost no effect on the Vechain price now, which continued to remain very low. This speaks to the weak adoption of the technology in the blockchain space. However, the project has already hosted some businesses on its platform and is currently working on collaborations with many others. In addition, the Vechain coin price chart is growing rapidly, indicating an increasing adoption potential.
What’s the Vechain price now?
Currently, the crypto market estimates VET to USD at $0.02. With an ATH at $0.28, the technology is yet to show all of its potential.
The Vechain token is trading at the ATH level of August 2020. Since the beginning of 2022, the altcoin has fallen in price by 76%, and its capitalization has decreased to $1.6 billion, according to CoinGecko. In April last year, the VET USD chart hit an all-time high above $0.28. Since then, the value of technology has been criticized.
Vechain price prediction
Trader Michael van de Poppe believes that the Vechain live price chart could rise sharply. According to the analyst’s Vechain price prediction, the cost of the altcoin in the near future may rise by more than 250%. The Vechain token price needs to consolidate above the support level in the $0.075 VET USD region for it to head towards all-time highs, van de Poppe explained.
Justin Bennett, a cryptanalyst, gave a similar prediction for the Vechain price charts. In his opinion, the altcoin may enter a stage of “explosive” growth, which will raise its VET to USD value to $0.40 (an increase of more than 2000% from current levels of the Vechain coin price chart).
These positive Vechain coin news are based mainly on the fact that this project is a smart contract blockchain platform that focuses mainly on business applications, namely, supply chains:
- quality control,
Vechain token price prospects
Vechain is actively trying to increase the level of adoption in the cryptocurrency world. This is evidenced by the rebranding, and the token swap to VET, and the introduction of masternodes. According to the Vechain coin news, the team’s plans include taking several more years to introduce the currency into everyday use. This process will go faster as more partners join the project. Thus, the Vechain live price chart will also show significant growth.
Vechain is one of the notable competitors of Ethereum. The Ethereum network, of course, has a wider community, but with a number of problems with scalability and high fees.
Vechain is faster and cheaper than Ethereum. This is partly why the largest international companies and conglomerates do not refuse to partner and use the network of the Vechain price charts.