Vechain (VEN) is a cryptocurrency within a product lifecycle management ecosystem project that combines blockchain technology and the Internet of Things (IoT). Vichain’s goal is to simplify and facilitate the collection, management and exchange of important information. Possible applications vary, such as property authentication, item tracking, or product simplification. Based in Singapore, the Vechain Foundation is the organization that organizes the project, its development, its promotion and its community.
The platform is designed to interact with all market sectors, both B2B (business to business) and B2C (business to consumer):
• Manufacturers can track sales channels in real time by tagging each product with a unique numeric identifier.
• Consumers are able to verify the quality and authenticity of a product and receive all information about it by scanning a numeric ID through a mobile application.
By the way, did you know that the VeChain project was created back in 2007? Despite the fact that its cryptocurrency token was issued much later, the project itself continued to develop systematically, which allows us to call VeChain one of the pioneers of the cryptocurrency world.
What is VET?
The goal of the project is to create a secure supply chain management ecosystem through the asset digitization process.
Strictly speaking, the Thor blockchain will use a dual token system:
ü a special Thor Power token is provided for the operation of smart contracts the holders;
ü will receive a certain number of VET tokens – the GAS token system in NEO.
In terms of the volume of transactions with this token, only the Chinese trading platform Huobi comes close to it.
It is important that you are aware of the risks associated with the cryptocurrency market. The cryptocurrency market has behaved unpredictably in the past, so hardly anyone can predict its behavior in the future.
Therefore, it will be in your best interest to conduct your own analysis or even consult with financial experts before deciding to invest in any cryptocurrency, not just Ven.
With that said, let’s move on to VeChain price prediction for 2021.
VeChain Price Prediction For 2021
In addition to historical data, you should also pay due attention to the opinion of experts regarding a project. Perhaps they do not often give an accurate forecast of the future course, but the opinion of some of them can have a serious impact on the entire cryptocurrency market.
As you can see below, his tweet regarding VeChain has given confidence to many investors.
Most likely, in 2021, the VET price will change many times, but if the uptrend affects the altcoin market at least a couple of times, the price of this asset may reach the $ 0.5 level.
Now VeChain is entering a new stage of development, which will definitely be interesting for investors and analysts to follow.