VeChain News / VTHO and VET Tokens
Before answering the question of how much does VeChain price, let’s take a short and quick look at its history. Vechain was founded in 2015 by electrical engineer and former CIO for Louis Vuitton. Sunny Lu. The Vechain ICO took place in August 2017 and brought in about $20 million. Their Thor blockchain went live in June 2018.There was a VEN token which ran on the Ethereum blockchain until 2018. After that VeChain rebranded and went to its own blockchain network.
There are two tokens that are running on the VeChainThor blockchain. One of them is the VeChain (VET)token and the other one is VeThor (VTHO) token. These two tokens’ prices are different. VeChain specialty is supply chain management and it combines blockchain with other technologies. They use proof of stake consensus algorithms.
VeChain price (VET) has gone up a lot after dropping sharply last week. It was down about %75. Today VET is trading for $0.13, and it is 110% above its lowest level that we saw last week while VTHO token is trading at 0.0088 dollar. It is a really impressive and fast growing blockchain network which is used for developing decentralized apps.
The best way to judge the efficacy of a new crypto that you are curious about is looking at what problems does this solve. It is a very important point. There are so many more solutions wise that VeChain can really do. VeChain was created to solve some big problems. Firstly, it was designed to solve supply chain needs. If you do not know what supply chain is, it is a blockchain that can handle up to 10,000 transactions pers second.
Instead of issuing new vet coins each block. VeChain blocks VeThor tokens which are given to all stake participants on their network. These VeThor tokens are used to pay for all transaction fees on the blockchain. These fees that I mention, can be delegated to third parties to facilitate enterprise use cases.
For instance, if you are buying a Louis Vuitton handbag, you have to track it from the place of the original manufacturer to your home. You have to prove its authenticity therefore it addresses the issue of product safety.
It can work with any consumer application on nearly any platform. It can also work with any tagging technology. They Called themselves BAAS and it means blockchain as a service. It can support project managers, third party service and many other things.
VeChain Price Prediction and VeChain Roadmap
VeChain currently has a market cap of $8.3 Billion. Yesterday we saw a %1 decrease. VeChain price (VET) has gone up 10x since the start of the year 2021 which is really impressive. Today the VeChain price (VET) is sitting at $0.13. VeChain price saw a great increase and it almost doubled its price.
VET has not much demand for drivers other than staking and governance. VET staking can be a source of passive income for people. You can earn passive income while sitting and holding a coin that is increasing in value. It has a fix supply of $86.7 billion. Nearly half of their VET supply is free for people to trade on the market.
When it comes to the price prediction, the VeChain price saw a major recovery and it is more likely to keep rising. Some people believe that it can see $0.17. But you have to do your own research as always. You can follow them on Twitter to see their changes, news and updates. Seeing the updates will help you for your investment plan.
This content is not created for financial advice. You have to do your own research before investing. You are responsible for your own decisions.