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Friday, September 30, 2022

VeChain News & Price Predictions!

Hi everyone welcomes to the video, thank you for tuning in. Today we have information about VeChain, VeChain Thor (the public blockchain) in addition to Ve Chain Token, some of the partnerships associated with VeChain and of course my price predictions. Just a quick reminder this is not financial advice and I am NOT a financial adviser.

VeChain is ranked 31st at the moment for the whole crypto market, at a market cap of about 355 million US dollars. Let’s start off with some basic information about VeChain: the VeChain project, launched back in 2015, is being targeted or tailored for various businesses (says here) to enable transparent information flow, efficient collaboration and high-speed value transfer and specializes in blockchain and IOT technologies.

It’s touting itself as one of the major platforms for web 3.0. More information in a nutshell about the project, the office locations around the world, the team there, some of the technical information, which I won’t go through but again the links there, I’ll let you read through it, in addition to the two tokens used by VeChain so just to quickly summarise, the unique dual-token system VET and VTHO significantly help separate the cost of using blockchain from market speculation.

VET or VeChain Token is the main token used for various business and financial activities whereas VTHO will be used for transactions and this corresponds to Ethereum and Gas, so the latter being used for transactions on Ethereum. It’s good that they’ve got this dual-token system; further information about the supply of the latter and how it’s linked to the former. On top of this, there’s a summary of the VeChain milestones since its launch back in June 2015.

One of the significant ones: VeChain Thor moving from the Ethereum blockchain because it was an ERC20 token originally, onto its own blockchain; this had an influence on the price. So this article here talks about the old ERC20 VeChain token.

The value of each token was therefore divided by a hundred and as you can see here, based on Live Coin Watch, this is why we get a huge drop there in price so it’s something to consider when you do look at the prices especially if you look at the prices on Live Coin Watch as opposed to Coin Market Cap which (for simplicity) just excludes the data before June 2018.

This will just affect all of the long-term predictions which I’ll cover later on in the video. Anyway, with that information let’s move forward let’s just touch on some of the main partnerships involved with VeChain.

So lately there was an announcement about Walmart’s China using the VeChain for blockchain technology not specifically the token in spite of that its major partnership as we know Walmart is a huge company around the world so to quickly summarise the key information they’re using this blockchain technology to help people verify the authenticity of different products specifically fresh produce to make sure that you can easily trace where it’s from, ensure that it’s met certain quality control standards and all of that so this is where blockchain technology could revolutionize that we’ll be good to see how that partnership all pans out and how it all expands.

Here is another Medium post covering VeChain’s partnership with BMW and Deloitte; a tweet here in reference to this, which also features in the article but just to quickly read this out this was back on the 19th of April this year: Cihan Albay from the BMW Group in Asia confirmed that BMW is developing a digital vehicle passbook hashtag Dapp, called Verify Car for BMW cars, recording the mileage, insurance, service records and so on on the VeChain Thor public blockchain.

Something to bear in mind is will these companies be using the token at all rather than just the blockchain because I just want to draw your attention to the iota partnership that Jaguar and Land Rover made for drivers sharing information about potholes and road data so if there’s a token being used there but no announcements yet.

So adding on to this news, we have Deloitte here or according to CCN, Deloitte is moving from Ethereum to VeChain. Now, with these announcements, unfortunately, the price hasn’t really moved up that much a whole market overall except for Bitcoin has really struggled to take off.

In fact as a quick side note, if you see specifically for today, it’s been an absolute bloodbath; even Bitcoin hasn’t been immune despite you know its ongoing growth over the past two to three weeks.

As we can see here, Vechain is really struggling to get momentum overall. Let’s see what happens when altcoin season comes around; I believe it’s a matter of time before it comes around, some people thinking altcoins overall are doomed; I wouldn’t count on that. I think many of the major ones here will still survive.

Anyway, moving forward information… further articles there about Ve Chain and BMW. Let’s jump into my price predictions now. So, with the information here but the prices actually let’s go to Coin Market Cap, I prefer those data there.

Looking at VeChain here. At its peak, it got I think just above to nearly 2 cents there relative to where we are now… less than 1 cent, so 0.006 cents, just over three times above the price we’re at now; plenty of room for growth with VeChain and I always recommend people pay attention to the market cap, circulating supply and total supply.

That ties into my price predictions. so based on the data that I just showed you in Coin Market Cap, for simplicity, I’ve rounded this up to 60 billion VeChain tokens and bearing in mind that the total supply eventually will get to 86 billion (VET), assuming the project survives in the long run.

Let’s say 10 cents per VET based on this, fairly simple maths, there’ll be a six-billion dollar market cap overall. My opinion is that OK, for this to happen we would need the old coins to really pick up so the whole market to really take off again not just Bitcoin.

Hopefully, it doesn’t take too long but for it to hit 10 cents at this circulating supply I would say three or four years. A very conservative estimate, ideally in the next year or two; I’m always earring on the side of caution here. 40 cents per VeChain Token, that’s 24-billion dollars market cap.

At this point, we’d need more partnerships, we’d need solid proof that people are not only just using the VeChain blockchain but the token as well. I’m gonna guess 7 to 8 years. Now, some of you out there will probably be frustrated or upset to say the least because of these longer time frames but this is a marathon and not a sprint.

The days of 1,000x returns a year… I highly doubt we’ll get to those days again, just to be pragmatic, Maybe your token will 1,000x but let’s see what happens. Again, NONE of this is legal tax and/or financial advice. $1.00?

Alrighty, now we’re getting serious we’re starting to deal with the Internet of Things really taking off but by this stage, VeChain will be a household name. there will be mass-scale adoption throughout the whole market. You would need….there would need to be a lot of success for the monitoring of the authenticity of various products. I forgot to mention as well before another potential use is ensuring that when you’ve got luxury goods, you want to ensure that they are legitimate and they’re not counterfeit products. Okay, back to the prices.

Sixty billion dollars for a market cap I predict this would take 12 to 13 years. This is a huge jump. Here we’re looking at what’s sad I think is a hundred-and- sixty times the amount from where we are now to get to a dollar that’s still a long shot and again we’re dealing with a higher circulating supply here.

Be realistic, just my opinion there. $3.00 per VET?! I guess with the last two, even from 40 cents onwards, it’s a matter of if not when. You need to remember, just for perspective, that you have a lot of competition, it’s hard to tell how the other projects will evolve, especially the top 10 cryptocurrencies by market cap.

Could one of those potentially replace VeChain or make it redundant? Who knows, time will tell. Three dollars so that is a 180-billion dollar market cap. This is huge. How long? I’m gonna say 16 to 18 years. I mean that is an astronomical jump from where we are now.

You need to remember that some of the leading tech stocks when you look at Amazon and Microsoft and Apple, these took many years to really establish themselves and flex their muscle for the prices to really take off.

Obviously, the early adopters back in the day benefited of the most so we are these early adopters, especially for VeChain with this tiny market cap.

For this to happen, (I mean) you would need Vechain to be the market leader of using the token also blockchain for supply-chain management measuring the products authenticity or more of those car partnerships that I spoke about earlier for example with BMW to measure the mileage, insurance and all of that. using the public blockchain.

IF not when, who knows? What are your thoughts on these price predictions? Am I crazy? I just wanted to point that out as well these might never happen.

Am I underestimating these? Could VeChain make its way into the top 10? I look forward to your feedback on all of this if you enjoyed this video give it the thumbs up or if there’s something I’m missing well then yeah just let me know in the comments section I’ll admit personally there’s so much information out there and VeChain isn’t one of my top projects personally, as you can see on the list.

I mean, there are so many other great projects happening as well or could the team deliver? What is more… which other partnerships can be launched? Anyway you be the judge, you let me know. Subscribe if you want to stay up-to-date with my latest videos. Don’t forget to smash the bell icon as well.

Comment if you’ve got some useful feedback to provide or if you just want to say g’day and share this with anyone who you believe will benefit from this. Thank you for tuning in and I just wanted to say as a quick side note I do apologise for not making a video sooner.

Work, in addition to some health issues, has just made it very difficult for me to keep up at the moment especially during the week but I will be making more videos in the weeks to come so thank you for your patience and your understanding.

I look forward to hearing from you soon and take it easy. See ya!.

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