VeChain (VET) price prediction

Will the price of VeChain head up or down in the weeks and months ahead?

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

VeChain is a blockchain platform designed to streamline supply chain management for businesses across a wide range of industries. However, following its February 2018 rebranding to become VeChain Thor, this ambitious project also has plans to become an enterprise dapp platform in much the same way as Ethereum.

The network’s native token, VET, has attracted considerable interest from crypto enthusiasts and experienced substantial fluctuations throughout late 2017 and early 2018. To find out where its price could be headed next, it's important to consider a few key factors.

Learn more Where to buy VeChain (VET)

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick facts

Coin nameVeChain token
SymbolVET
Algorithm typeN/A
MineableNo
Launch dateAugust 2017

VeChain price prediction

Cryptocurrencies are complicated and volatile, and there are many factors that can contribute to the growth or decline of their price. With this in mind, it’s important to research and analyse those factors to form a clearer picture of where the value of a particular coin or token could be headed.

If you are thinking of buying VET, consider the following factors:

What could drive VT’s growth?

  • Partnerships. One of the key factors that has driven interest in VeChain is that it has secured genuine partnerships with a host of big names in the corporate world. Not only is it part of PricewaterhouseCoopers’ incubation program, but it has also inked agreements with certification service provider DNV GL, financial services provider Fanghuwang, and China’s National Research Consulting Center, as well as announced that it will receive advisory support from Breyer Capital.
  • VeChain Thor. In February 2018, VeChain underwent an official rebranding to become VeChain Thor. This is part of a process that will see the project expand from supply chain management and anti-counterfeiting into an enterprise dapps platform with scalability up to 10,000 transactions per second. VeChain Thor will be a new blockchain on which VeChain Thor (VET) tokens will be used. Existing VEN tokens will be converted to VET tokens on a 1:1 ratio. VET will be required to issue new dapps, use platform-wide services and perform other transactions.
  • Product already in use. Founded in 2015, VeChain already offers a blockchain solution that is used by businesses in the agricultural, wine and luxury goods industries to improve supply chain management and help determine the authenticity of products.
  • The VeChain Foundation. VeChain is backed by The VeChain Foundation, a non-profit entity established in July 2017 in Singapore. The foundation is “committed to VeChain’s development, construction and governance, ensuring transparency, advocating the safety and harmonious development of open source communities”.
  • Supply and demand. According to CoinMarketCap, at the time of writing the circulating supply of VeChain tokens was 515,250,634 VEN, out of a total supply of 873,378,637 VEN. If the VeChain Thor platform can continue to attract users and develop partnerships with big corporate names, this could increase demand for the token.
  • Earning THOR. The VeChain Thor network will feature two tokens – VET, the payment currency used to run business activities on the blockchain, and Thor Power (THOR). THOR is used to create smart contracts and run applications on the blockchain, and VET holders generate THOR at a base rate of 0.00042 THOR per VET per day.
  • X Node program. In March 2018, VeChain launched its X Node program, which is designed to reward the platform’s early supporters. To qualify for X Node status, token holders needed to have 6,000 or more VET in a trackable wallet by 20 March. This reduces the amount of tokens in circulation, potentially having an impact on demand.

What could hold VET back?

  • Lack of adoption. VET tokens are needed to run business activities on the VeChain ecosystem, so if the platform is unable to achieve widespread adoption by a significant number of companies, this could impact on the level of demand for the token.
  • Competition. From a supply chain management point of view, the level of success VeChain can achieve could be influenced by how it stacks up against projects like Waltonchain and Modum. However, with the Vechain Thor launch and a move towards enterprise dapps, VeChain will also need to compete with crypto giant Ethereum and other smart contract platforms.
  • Still being developed. While VeChain Thor sounds promising, it’s still a work in progress. The VeChain Thor blockchain is set to go live in Q2 of 2018, but only once it has been launched and fully assessed will we be able to get a better idea of how well it functions.
  • Confusion. One other factor to take into consideration is whether there may be some confusion among buyers and the wider cryptocurrency community about the differences between VEN and VET tokens, as well as how they relate to THOR tokens. Make sure you understand the function of each of these tokens (and how to store them) if you are thinking of buying any tokens native to the VeChain system.

Where to buy VeChain

Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

308
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 290 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD, NZD

284
cryptocurrencies

Finder Exclusive: Receive $10 BTC on Sign up and Verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

272
cryptocurrencies

Promo: New users earn up to USD 100 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

276
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

166
cryptocurrencies

Finder Exclusive: New members get $10 bonus after first trade. T&Cs apply.
Buy 160+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Coinstash Cryptocurrency Exchange
Coinstash Cryptocurrency Exchange
Bank transfer, Cryptocurrency, PayID, Bank transfer (recurring buy), OSKO
AUD

123
cryptocurrencies

Buy 120+ different cryptocurrencies using AUD with competitive trading fees in the Australian market.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

434
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

816
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Easy Crypto Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi
AUD

53
cryptocurrencies

Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

154
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
AAX Cryptocurrency Exchange
AAX Cryptocurrency Exchange
Alipay, Bank transfer, Cash, Neteller, PayPal, Qiwi, SWIFT, WeChat, Western Union, UPI, IMPS, Paytm, Faster Payments (FPS), PayNow, Swish, Payme
AUD, CAD, CNH, CHF, EUR, GBP, HKD, NZD, SGD, USD

110
cryptocurrencies

Make fast transactions including spot, futures and P2P trading with this cryptocurrency exchange.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

280
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

168
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

228
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Cryptocurrency
KRW

193
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
loading

Compare up to 4 providers

What’s coming up in VeChain’s roadmap

What key milestones are coming up in VeChain’s future? By far the most important development in the roadmap will be the launch of the VeChain Thor blockchain, which is expected to occur in June 2018. Thor will allow for the creation of dapps on the VeChain platform, and is a crucial phase in the project’s plan to become an enterprise-grade platform for these types of applications. Understandably, the launch will be watched with interest by many in the cryptosphere.

This launch, known as version 3.0, will also include the launch of the VET token, the exchange of VEN tokens for VET tokens, and the launch of the VeChain Wallet.

VeChain v4.0 is slated for Q4 of 2018 and is expected to feature the introduction of crosschain and sidechain technology, and IoT integration. By 2019, the team expects to be focused on the expansion of the VeChain Thor ecosystem.

VeChain’s competition

VeChain’s price could also be influenced, both positively and negatively, by the performance of its competitors. In the supply chain management sphere, key projects to keep an eye on include:

  • Waltonchain (WTC). This joint Chinese/Korean project uses blockchain and RFID to track items and improve supply chain management. It was launched in 2016 and is named after Charlie Walton, the man credited with inventing RFID technology.
  • Modum (MOD). Another project focused on streamlining supply chain processes, Modum combines IoT sensors with blockchain technology to enhance data integrity.

However, as VeChain moves into the field of enterprise dapp solutions, it will also face competition from projects like:

  • Ethereum (ETH). The number-one dapps platform and the second-largest cryptocurrency by market cap, Ethereum is an established player in this competitive area.
  • Cardano (ADA). Launched in 2017, Cardano is a smart contracts platform built in the Haskell programming language and focused on security, scalability and user-friendliness.
  • EOS (EOS). Designed with the aim of creating a better-scaling and more user-friendly version of Ethereum, EOS is another relatively new dapps platform still being developed.
  • NEO (NEO). The so-called Ethereum of China, NEO offers a smart contract platform that supports a wide range of code bases. Having been at the centre of a great deal of hype since its launch, NEO is one of the world’s top 10 coins by market cap.
  • Lisk (LSK). Built in JavaScript and designed to be as user-friendly as possible, Lisk allows business to create their own custom blockchain applications.

Beyond 2021: What does the future hold for VeChain?

What happens to VeChain in 2019 and beyond will be greatly influenced by what happens in 2018. The highly anticipated Thor upgrade will be a crucial stepping stone for the project and its ambitious plan to support dapps. If the launch is successful and the new blockchain functions as hoped, there is enormous scope for VeChain to continue its expansion. Of course, any delays or bugs could also have an impact on the price of VEN/VET.

It will also be interesting to see what unfolds as VeChain faces off against its competitors, not only in the supply chain management field but also as a dapps platform. Ethereum is the current king of the latter and very well established, so becoming a viable competitor to the world’s second-largest cryptocurrency will be a huge challenge.

That said, if VeChain can continue its record of securing big partnerships, this will go a long way towards keeping it towards the pointy end of the competition.

Bottom line

The bottom line for VeChain is that there are both challenges and opportunities that lay ahead. The platform has a solid base, a working product and some impressive partnerships to its name. However, 2018 looks like being a huge year for the project and the official launch of VeChain Thor is one to watch. Monitor the latest crypto news and announcements closely and do your own research before deciding whether or not you should buy any tokens.


Images: Shutterstock

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

At the time of writing, the author holds IOTA and XLM.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site