search icon
      blog search icon

      The beginners guide to Investing in VeChain - Stocks Telegraph

      By Muskan

      Published on

      August 12, 2021

      5:02 PM UTC

      The beginners guide to Investing in VeChain - Stocks Telegraph

      The blockchain technology is still in its exploratory phase and its application can have a lot of real-use cases. VeChain is one such example of the technology. The vision of the platform is:

      “Building a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers”

      VeChain was originally designed as a product for the anti-fraud technology. However, the network has been evolving and is now used largely as a supply chain management service. The network was targeting product piracy with its unique mechanism as it gives a unique identity to each product which can then be monitored through the network’s tracking mechanisms. But after rebranding, it is now utilized by organizations and firms to monitor their supply chains.

      The platform was formed by Sunny Lu – the former CIO of Louis Vuitton China. The unique identity can help firms track their products at every stage of the supply as well as help customers verify that their purchases are legit. The blockchain technology also has a unique advantage as any data recorded on it cannot be altered. Hence, the tracking of products is completely legitimate. Instead of being an ordinary blockchain, VeChain specializes in supply chain management which gives it a unique edge in a market flooded with cryptocurrencies.

      Is VeChain a good investment?

      At the time of press, VeChain stands at a price level of $0.1125. The cryptocurrency started off the year with a price level of $0.018 and peaked at $0.25 during the high of the 2021 bull run. The phenomenal performance of the VET token put it on the radar of many investors. It has come a long way from the 2018 bull run high of $0.019 which made its proposition as an investment even more attractive.

      VeChain is the twenty-one largest cryptocurrency in the market with a capitalization $7.26 billion. The market crash of 2021 had been brutal for the coin but it appears to be bouncing back. VET has been trending upwards since the end of July and the uptrend has been going strong albeit with minor corrections. It is expected that in the long-term VeChain would continue its upward trend. The technicals are also backed by strong fundamentals of the cryptocurrency.

      According to the estimates of Wallet Investor, VET token is expected to reach towards $0.215 in a year’s time. The bulls are expected to sustain the upward trajectory of the cryptocurrency and a price level of $0.672 can be seen in five years’ time. Digital Coin Price also has similar bullish outlook on VeChain’s future – albeit not as bullish. Per their estimates, VET will be operating at a price level of $0.15 by the end of 2021 and reach $0.37 by 2026.

      More From Stocks telegraph