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VeChain is currently exchanging hands at $0.02192. It is a far-fetched goal for VET to reach the milestone of $1. However, the community believes the token could yield the desired results. While a definite timeline is hard to guess, speculation is that it will take an innovative application, or a killer app, for VeChain to see a surge in its native token’s value.
Current sentiments of the community or crypto enthusiasts are more inclined toward owning a fair share of BTC or ETH, for there is a chance that the SEC may approve all the applications on January 10, 2024. That will kickstart the bull run of the sphere, which will be further fueled by Bitcoin halving later that year.
VeChain has a single card to play, and that is all the projects that are launching on the VeChainThor blockchain. For instance, VeCarbon is a revolutionary product on the blockchain that is working in close collaboration with enterprises, both government and private, to help them achieve carbon neutrality. The scope is defined across all types of industries, including, but not limited to, transportation, food and beverages, and chemicals. This means the utility will expand in the times to come, thereby pulling the price of VET upward for a positive trajectory.
Another project on the blockchain is the VeWorld self-custody wallet. It was launched in the first quarter of 2023 and is available as a browser extension. The development lined up by the team is to launch a mobile version of the wallet. VeWorld serves as a gateway into the ecosystem of VeChain. VET is down by approximately 93% from its ATH. A market cap of ~$1.5 billion is keeping it moving on the board.
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Having said that, the question arises again about the native token ever touching the milestone of $1. VET crypto price prediction estimates that this decade may not be when the token inches closer to the desired mark. This is evident from the fact that the highest it can go by the end of 2030 is $0.231. Needless to say, this is a prediction subject to market volatility.
After the Spot Bitcoin ETF proposal is approved, the crypto market may see a surge in demand. VeChain will form significant collaborations with developers.
Platforms that emerge will help to increase the accessibility of VET, allowing interested investors to add the token to their portfolios. Investor sentiment is unlikely to alter at any time, given that VeChain has disclosed all relevant disclosures at the appropriate time. Quarterly financial reports offer information about the company’s expenses and the state of its treasury.
The market is not particularly hopeful about VET reaching the aforementioned level any time soon. That is not to say that the market will not react positively to other tokens. BTC and ETH, for example, are seeing a good run already, with BTC at $38k+ and ETH at the $2k+ mark while articulating this piece.
It will take a lot for VET to spark massive interest in the ecosystem. VeWorld and VeCarbon are the initiatives that have laid the foundation for future projects.
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The aim is to host developments that serve society. The future prices of VET are far from the desired goal. However, the team is confident of pulling it off with all the applications the VeChainThor blockchain is planning to host.
Moving forward, VeChain plans to accelerate the development of applications and launch VeWorld’s mobile version. A gateway to the ecosystem could potentially onboard more users.
