Is VeChain (VET) Expected To Reach $10 Or More In The Next 5 Years?
Can VET prices reach $10 in the next 5 years? After VeChain’s impressive price action for the past 12 months, medium and long-term investors want to know it will eventually break above $10.
The typical response to such a question is that no one can accurately predict the direction VET prices will assume moving forward. Crypto analysts and the trader sentiments, however, suggest that VeChain token prices will continue rising over the next few years, with a few experts expressing confidence in the altcoin’s ability to break above $10 in the next 5 years.
Technical analysis experts from CoinQuora, for instance, are confident that that VET will set a new all-time high before the end of the year and proceed to reach $10 by the end of 2025.
The majority of crypto experts has, however, expressed reservations about VeChain’s ability to reach $10 within the next few years. But they all agree that the altcoin will most likely remain bullish for the entirety of this period.
So, how high up will VET token prices reach in the next 5 years? Even more importantly, what factors do experts believe will help it get there?
We will be answering all these in this VeChain investment guide.
But first, let us look at VET’s current price, how it got here, and what that tells us about its future.
VeChain (VET) Current Price
At the time of writing, the VeChain token is currently selling for $0.1127, having gained 1% in the last 24 hours, according to data from CoinMarketCap. This represents a 60% drop from its all-time high of $0.278 set on 17th April 2021. The altcoin has a live market capitalization of $7.26 Billion, making it the 27th most valuable cryptocurrency project. In the last 7 days, VeChain prices have been bouncing between $0.1043 and $0.1178.
Though the altcoin started in August 2018, its poor performance ensured it remained foreign to most crypto investors and traders until early 2021, when it started gaining momentum. Over the last nine months, it has set an all-time high price and moved from $0.019 at the beginning of the year to the current price level, its value appreciating by more than 600% in the process.
At the height of its price rally in April, most analysts were convinced that it would break above $1 by the end of this year and set an aim for $10 in the next five years. But China banned Bitcoin, and the crypto market rally that fed much of its momentum took a nosedive. VET price crashed, dropping to $0.056 (shedding 80% of the peak price) at one time.
Today, however, the coin is back on track and on a 3-month uptrend that analysts believe will extend into next year and a few more after that.
So, Will VeChain (VET) Reach $10?
It is highly likely that VeChain token prices will eventually rise and reach $10. But most crypto experts do not believe the altcoin can get here in the next five years, given the prevailing crypto market conditions.
The CoinPricePrediction, a traditionally bullish technical analysis website, for instance, indicates that VeChain can only reach $3.455 in 2030.
But why don’t they believe VET will get to $10 in the next five years?
First, we need to look at its maximum token size and the forces behind its token price. VeChain has a maximum token supply of 86.712 Billion VET tokens, and a $10 valuation would, therefore, give it a market capitalization of $867.12 Billion, more than 37% of the current total crypto industry’s market cap. It would also need to grow its value by 8900%+ during this period.
A basic analysis of the altcoin’s past price action for the 12 months reveals that much of its price action was made possible by partnerships between VeChain and off-chain brands, as well as the early 2021 crypto market rally.
Crypto experts then argue that the crypto market rally has died down and that we might not see any other meaningful price rally until 2025, after Bitcoin’s halving in 2024. There also is no guarantee that VeChain will continue entering into more and equally impactful partnerships that affect its prices positively for the next five years.
These reasons, therefore, convince the experts that even though the general feeling for VET token prices is bullish, there isn’t enough force behind these bulls to push the altcoin prices above $10 in the next five years. The race for $10 in the next five years seems even bleaker when you consider the fact that VeChain prices have only appreciated by 600% in the last 3 years.
Will VeChain (VET) Eventually Reach $100?
It is not entirely impossible for VeChain to reach $100, especially when you consider that experts and trader sentiments agree on a bullish future for the altcoin. However, it is highly unlikely that VeChain will reach $100 in the foreseeable future.
Such a move would require the altcoin prices to shoot up by more than 89000%, giving it a market capitalization of $8.67 Trillion.
For a blockchain technology dedicated to the supply chain industry, crypto experts doubt there is enough force to drive its price this high up. Further, for a coin that has grown by about 600% in the last 3 years, most analysts don’t see how it can turn this into an 89000% run in the next few years.
To put the 89000% gain into perspective, you need to understand that taken Bitcoin - the oldest, most popular, and most traded cryptocurrency - value has only appreciated by about 40000% in the last 8 years, even with a much lower total maximum token supply.
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What Will VeChain (VET) Be Worth In 2025?
From crypto analysts at Trading Education to the technical analysis reports and other crypto experts we have interacted with, everyone believes that VET will be worth much more in 2025 than it is today. The highly volatile nature of the altcoin prices and the unpredictable nature of the crypto market in which it operates, however, make it impossible for these parties to agree on VeChain’s growth rate or its value by December 2025.
Experts from PrimeXBT describe VeChain’s future price action as being blurred. They argue that while it presents the supply chain industry with highly innovative and disruptive blockchain technology, there is no guarantee it will receive enough positive reception to thrust its token prices to tangible heights. They, therefore, believe that it could be trading between $0.24 and $3.12 by the end of 2025.
In May 2021, right after the crypto market crash, CoinPriceForecast predicted that VET prices could rise above $5 by 2025. Today, however, the technical analysis platform has adjusted this prediction downwards and indicating the altcoin can only reach $0.43 in 2025.
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Conclusion: Will VeChain (VET) Reach $10?
It is possible that VeChain token prices will rise and eventually tear above $5. The overwhelming majority of investors and crypto experts are even confident that the altcoin has a bullish future, which will most likely see its token prices sustain an uptrend for the next few years.
However, looking at the coin’s poor price action in the past, uncertainty over the adoption of disruptive blockchain technology in the supply chain industry, and a shaky crypto market, experts aren’t convinced that there is enough buying force to drive VET prices above $10 in the next 4 years.
The key takeaway from this VeChain investment guide, nevertheless, is that the future of VET token prices is hinged on the crypto market and the adoption of VeChain blockchain technology within the global supply chain industry. This is to say that if the crypto market continues rallying and companies adopt VeChain, it could rise to reach $10 by 2025.
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