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Is VeChain (VET) A Good Buy?

Last Updated October 11th 2021
6 Min Read

Is VeChain a good buy? Should I be investing in VeChain in 2022? These are the kind of questions we receive daily at Trading Education from both newbie and experienced crypto investors.

From both investor and trader perspectives, VeChain has all the features of a good buy. It is volatile enough to create enough profit chances for the active trader, and it also has huge potential for growth which makes for a valuable asset for the long-term investor.

Other factors that make VET a good buy include the fact that it has performed exemplarity well in the last 12 months, it is resilient, and it currently is on an uptrend that analysts believe will drag on for the next few years.

We also believe it could be good because, in the last few months, VeChain shot from obscurity and rose to become one of the most talked-about and one of the most valuable crypto projects.

In the first four months of 2021, for instance, the altcoin prices appreciated by more than 1400%, jumping from around $0.019 at the beginning of the year to setting an all-time high of $0.278 in mid-April. And after the Bitcoin and the larger crypto market crash in mid-May that saw VET lose 80% of its all-time high price, the altcoin has shown its resilience by recovering more than half of this price and maintaining an uptrend for the last three months.

You can also tell that the coin has been receiving a lot of investor interest in the last few months by simply looking at the number of VET wallets being created and the relatively high VeChain daily trade volumes.

But is VET a good buy for you? Should you be buying VeChain in 2021?

Let us answer these questions and tell you everything else you need to know before investing in VeChain.

Read on.

So, Should You Buy VeChain (VET)?

The general opinion within the crypto industry is that VeChain crypto-token prices will continue rising in the foreseeable future, and this makes it a good buy. Some analysts have even argued that VET is only coming out of incubation. They have gone ahead and compared its current price action to the early days of such pioneer cryptocurrencies coins as Bitcoin and Ethereum, which after a long period of obscurity, went ahead to score massively and land in the top 10 crypto category.

But how similar is VeChain to Bitcoins or Ethereum?

We can confirm that, like Bitcoin and Ethereum, VeChain enjoys the first-mover advantage, seeing that it was the first blockchain dedicated to the global supply chain industry. This has endeared it to some of the biggest names in the world who have expressed interest in developing blockchain-based programs on the VeChain network. Their interest has, in turn, drawn in developers and users to the platform, who play a key role in helping boost the VET token prices.

These, plus the fact that VeChain prices are expected to sustain the current uptrend for the next few years, make it a must-have for every crypto enthusiast in 2022.

Why is VeChain (VET) So Popular Right Now?

VeChain has, for the past few months, been at the centre of most crypto discussions online. It has also been extensively featured on crypto news sites, and we can attribute this newfound attention and popularity to these three factors: 

  • Mass adoption: Over the last three years, VeChain has entered into multiple partnerships with multinational organisations that are looking to leverage its blockchain network in streamlining its supply chain systems. The most impactful yet have been partnerships with PriceWaterhouseCoopers (PWC), Direct Imported Goods (D.I.G), China Unicom, Kuehne & Nagel, BMW Group, LVMH, Renault Group, Walmart China, and H&M. These have helped popularize the blockchain, drawing in investors and developers in drives. 
  • DeFi and eNFT platforms: VeChain presents itself as the superior blockchain on which DeFi protocols can be launched, and enterprise NFTs (eNFT) housed. Given that these two are the hottest topics in the crypto industry at the moment, the VeChain network’s appeal has helped popularize the platform and are expected to continue helping push VET token value’s up in the foreseeable future. 
  • Promising price action: In the last 9 months, VET token prices have appreciated by more than 600%. And even though the crypto market is quite jumpy at the moment, the VET token has maintained a steady 3-moth uptrend. Its prices are more volatile, and daily trade volumes are relatively high, which endears it to active traders. Most crypto experts have also said that VET token prices will continue rising in future, and this has drawn in long term investors. 

Check Out: Is VeChain (VET) Worth Buying?

How Much is VeChain (VET) Worth Today?

 At the time of writing, the VeChain token is trading at $0.1166, having appreciated by more than 3% in the last 24 hours. It has a live market capitalisation of $7.224 Billion and a daily trade volume of about $400 Million. 

At the current price, the altcoin is operating 60% below its all-time high, but it is leaps above the lows of $0.05 hit in July, at the height of the China-influenced crypto market tumble. 

We must also add that VeChain ranks highly on the list of fastest-growing coins in 2021 - and that it is growing at a faster rate than popular digital currencies like Bitcoins. This has helped it jump from a little known digital asset in 2020 to the 27th most valuable cryptocurrency by market cap in October 2021.

Analysis suggests that VET will carry on with this stellar performance in the near future, and this effectively makes VET a valuable addition to your crypto portfolio.  

But how high up do experts believe VeChain will reach before the end of the year? Can it break above $1?

Will VeChain (VET) Reach $1 In 2022?

It is possible for VeChain to rise and hit $1 before the end of 2022, but given its current growth rate and the prevailing crypto market condition, experts say that you might have to wait longer before VET achieves parity with the dollar. 

The campaign for a $1 valuation for VeChain tokens had gathered momentum earlier in the year, with some analysts suggesting that it could even hit $10 within the next 5 years. 

However, the crypto market rally, which played the biggest role in fuelling the VET growth, died down, and the token’s value came tumbling. At the moment, both the crypto market and VET token prices are in recovery mode, and the current buying force is not sufficient to carry the altcoin’s prices across the $1 price level by the end of the year.

Don't Miss: Is VeChain (VET) Expected To Reach $10 Or More In The Next 5 Years?

Conclusion: Is VeChain (VET) a Good Buy?

Yes, we have established that VeChain has all the qualities of a good buy and will, therefore, be a valuable addition to any investor’s portfolio. It has performed exemplarily well in the recent past, and crypto experts are convinced that it will carry on with the current uptrend in the near future. Though it may not reach $1 before the end of 2022 most analysts believe that it will set a new all-time high this year or early next year. 

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