VeChain VET: Why Elon Musk Is the Real Ryoshi | VET TOKEN WILL HIT $10 Today, Asia is one of the main hubs of blockchain development and some of the brightest cryptocurrency projects and VeChain is one of them. Moreover, the native token VET has succeeded in the crypto space and also emerged as one of the good & profitable investment offlet. But what can we expect from Vechain in the future? Will the Vechain price surge or plunge in 5 years? Stick with us till the end of the video.
Hi Vechain lovers! Welcome to Vechain land, your daily dose of Vechain! If you are interested in everything around Vechain, this is the place for you! Make sure to hit the like button and subscribe for us to provide you with more Vechain news, and let us know in the comments how much you think Vechain will cost next week! Before we get to the topic, let’s do the price analysis of Vechain. As of 7th July, VeChain’s price is currently traversing above a critical support level, which could break down easily.
If this were to happen, VET could slide to the subsequent barriers or a demand zone, serving as a launching pad that triggers a massive upswing. VeChain price is currently hovering above the support floor at $0.0829 and is likely to break down at first sight of increased selling pressure. Therefore, investors can expect a retracement to $0.0829 or the demand zone stretching from $0.0722 to $0.0740. Assuming VET bounces off $0.0829, investors can expect an 18% upswing toward the resistance level at $0.0924.
Breaching this area could open the possibility of VeChain price tagging the $0.102 barrier, which is an 18% upswing. In a highly bullish case, the bulls might try to push VET to tag or sweep the 50% Fibonacci retracement level at $0.106, representing a 36% rally from the $0.0782 support floor. With Bitcoin showing a bullish bias, the altcoins will likely follow its lead.
If BTC were to tag $40,000 or the range high at $42,451, VeChain price could easily glide through $0.106 and tag the ceiling at $0.115.While things look good for VeChain price, for now, a breakdown of the $0.0829 level will lead to a dip into the demand zone that extends from $0.0722 to $0.0740.
This move would not negatively affect the optimistic outlook.
However, a decisive 4-hour candlestick close below $0.0708 will invalidate the bullish thesis, pushing VET down to $0.0669. Now let’s get back to the topic. VeChain is a semi-decentralized, blockchain-based platform. Have you ever looked at a product with a designer label and wondered if it’s the real deal? Well, VeChain aims to put a stop to the uncertainty.
This platform uses anti-fraud technology to authenticate high-end items, giving confidence both to customers and to manufacturing companies. VeChain was founded in 2015 by Sunny Lu, who was previously the Chief Information Officer (CIO) at Louis Vuitton China. Originally designed to prevent the sale of counterfeit goods, its since been adopted by large companies to simplify the process of supply chain management. So, how does it work? VeChain works on the principle that by assigning each item a unique identity, you can use sensors to track the items throughout their lifecycle.
By storing the tracking information, it’s possible to see the complete history of the item, from where it was made to where it was most recently sold. This means it’s possible to verify the authenticity of premium products. The VeChain ecosystem consists of the blockchain that stores encrypted tracking information, the mainnet, and its native cryptocurrency. That’s where VET comes in. This utility token is used to transfer value across the network, and the more VET somebody holds, the quicker theyre able to access the blockchains resources. You can also use VET to generate a second native token: VeChainThor Energy (VTHO).
This token is known as the gas that powers smart contract transactions within the platform and enables people to access the supply chain technology. If you’re not a user of the VeChain platform but want to invest in VET, you can do so by purchasing the token on cryptocurrency exchanges. Excited by VeChain’s recent growth? Keen to answer the question is VET a good investment? You’re in the right place. We’ve explored what the experts have to say about the price of VeChain in 2021 and beyond. Many analysts have proposed price forecasts for VeChain Thor.
Some say it will reach $ 75, others $ 10. However, given the current growth rate of VeChain VET, it would not be surprising if it reaches $ 1 by the end of the year. A prediction suggests that the price of VeChain VET will reach $10 if two or more sustainable Bitcoin races occur. The analyst also clarified that the token has what it takes to pass above this level and that this should not be considered as a limit.
At the same time, he advised traders to be cautious because of VeChains ties to the Chinese government. VeChain has been getting a lot of attention lately. Blockchain VeChain has left the sidelines and now has become one of the most important cryptocurrencies in space. VeChain news about partnerships and support has influenced VeChain Thors price predictions for this year and years to come. VeChain offers BlockChain as a service to industries around the world by integrating IoT into the supply chain management process safely.
VeChain aims to revolutionize business-level transactions through the digitization of assets. Since its inception in June 2015, VeChain has expanded its business and reach through strategic partnerships, innovative business solutions, and ongoing integrations and technology advancements. The Ethereum system has made several changes and introduced new protocols, such as DMBSP and DGIP, for faster transactions in real-world business applications.
What Can You Do With Vechain? The design of Vechains blockchain is in such a way to accommodate the movements of goods and services across a chain of supply. The token of Transaction on the blockchain is the VET utility token. This design is highly in favor of businesses dealing with large volumes of settlements.
However, the following are different ways your business can adopt Vechain in its ecosystem. Food and Beverage Businesses Owners of food and beverage enterprises can use the Vechains ecosystem to transact in a transparent manner. The blockchain allows them to scan QR codes on their preferred products and the system automatically provides consumers with desired information about the product. Such information includes geographical location, inspection reports, dates, ingredients, source of ingredients, and cryptographic information.
As a result, a brand will improve transparency on its chain of supply to reduce costs for third-party verification and collaborate with other participants such as insurance firms and financing institutions. Startups Vechains blockchain has put in place various systems to help startups bootstrap growth from scratch. Startup founders will find tools for technical documentation and acquire direct support from the Veechains support team. Digital Vehicle Management Uber sparked a fleet of vehicle management companies.
Vechain provides users with an effective digital vehicle passport solution that stores and secures crucial data along the lifetime of an automobile. Financial institutions, vehicle manufacturers, insurance providers, vehicle repair enterprises and technical experts can use the Vechain blockchain for authorized sharing of data. This will make information about ownership, servicing history and usage more transparent across the automobile industry.
What is the VeChain Price Based on? VeChains token valuation is directly proportional to the cost of using the blockchain. However, usage of the blockchain depends on whether a user is carrying smart contract transactions or payment transactions. Again, the value of VeChain (VET) goes up as usage of the blockchain rises. Furthermore, and as earlier mentioned, the platform supports those who hold VET by enabling them to conduct VET transactions at no cost. This is because holding VET guarantees the user some free VTHO. VeChain has already developed a working and practical blockchain solution for the supply chain management.
The practical solutions have already attracted partners from various industries to join the bandwagon. Such industries include manufacturing, luxury goods, automobiles among others. VeChains solutions can be implemented in health records to track medicines. Besides, the anti-counterfeiting mechanism is effective in wiping out the black market trade of medicines. So, will the Vechain hit $10? Some market analysis indicates VET is going to hit $75. Default means Vechain will attain $10 and then surge its way above $70.
However, if Vechain is to hit $75, the coin’s present market valuation must rise by over 140,000 percent but the project has the potential to hit $10 within the next 3 to 5 years. We would like to again highlight how big of the opportunity can be seen here. So what is stopping you to go for Vechain as it has the potential and future to go bullish and big! Also, we would like to mention that this is not a channel intended specifically to provide financial advice, and we do not ask you to invest in any company.
This is merely a channel directed towards bringing educational content to your doorsteps. With that in mind, before you invest in anything, we recommend you do thorough wide-spectrum research on the topic. Well, that’s it for today’s video, guys. And make sure to subscribe and give us a thumbs up! See you next time on Vechain Land.
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