VeChain (VET) is one of the most popular and hyped cryptocurrencies this year, but also a coin that has not lived up to traders’ expectations, especially lately. While the price of VET has substantially increased last month when the coin managed to go to as high as $0.24, right now we can see that VET has lost a lot of its market cap and trades at the 21st position with a price of $0.10. Because of the downward momentum, many people are asking “is VeChain a good buy now,” and will the price of VET increase in the months to come.
305,239.62 kg of plastic waste from oceans and rivers are verified to be removed by @ReseaP using VeChain.#VeChain was used to collect, record, and monitor all the data securely. We strive to create real value using #blockchain technology. $VET $VTHOhttps://t.co/gyNx25CPB1
— VeChain Foundation (@vechainofficial) May 18, 2021
The truth is, the price of VeChain has historically risen a lot. At the end of December 2020, it was $0.019, which means that it gained around 600% since then and more than 3,000% in one year. The performance is amazing, and it forecasts a great future for crypto. But what is the thing that traders love most about VET?
The focus, as we have said in the VeChain news before, is the blockchain platform. The accent that this project puts is on corporate supply chains and logistics, and according to its whitepaper, VET has an ability to improve the management of supply chains. For instance, many large companies now use VET for inventory tracking purposes – some of the big names include Walmart, BMW, IBM, and the Food Trust Blockchain which is formed by some of these companies.
The list of clients for VET is growing, which kind of answers the question “is VeChain a good buy now.” There is a potential 150% increase for VET to match the all-time high price that it reached before, and many possibilities for further development of the project.
We've hit 1 Million #VeChainThor accounts as of May 26, a month before VeChainThor's 3rd anniversary!
We're steadily heading towards mass adoption together with enterprise users and active $VET & VIP180 holders from the community.
— VeChain Foundation (@vechainofficial) May 27, 2021
Lastly, VeChain pays a dividend in the form of a coin called THOR or VeThor with a ticker VTHO, which is paid to every holder of VET tokens. The price of VTHO was recently around $0.015 with a potential for growth. Therefore, the VTHO tokens are worth a nice amount – for every 10,000 VET (if they are worth $0.10 each and around $1,000 in total), you will get around 1.50% annually in the form of VTHO tokens.
You can check many of the partnerships that VeChain has and the latest news on DCForecasts and in our blockchain news section.
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