VeChain (VET) Price Prediction 2025-2030: Can the alt hit $1.75 by 2030?
Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject
Since the beginning of 2022, VET has been on a steady downtrend. This decline can be attributed to the crypto-winter. According to data, the altcoin, at press time, was trading at $0.029, down 6% over the last 24 hours. In fact, the market capitalization stood at $2.3 billion with $98 million traded over the aforementioned period.
The idea of buying into a crypto because it costs a fraction of a dollar is tempting, but not smart. In this article, we will analyze what drives the price of VET and factors that have affected said price. Also, what might influence it in the future so that investors can make an informed decision.
In 2015, Sunny Lu, the Chief Information Officer of Louis Vuitton China, founded VeChain. It was founded with an aim to disrupt conventional business models and revolutionize the way companies around the world manage their supply chains.
The company boasts partnerships with luxury brands like Louis Vuitton, BMW, big-four auditing firm PriceWaterhouseCoopers (PwC) and Walmart. Most recently, VeChain entered a multi-year deal with the UFC. The deal is valued at $100 million.
VeChain works on a consensus protocol that is different from the traditional proof-of-work and proof-of-stake protocols. VeChain uses a proof-of-authority consensus model. This protocol requires relatively low computational power and is more about integrity and quality. This consensus model is rather centralized, when compared to traditional ones.
Although VeChain is based out of Singapore, a significant portion of its team and connections are based in China. Almost half of
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