VeChain tokens are one of the lesser known cryptocurrencies, but all of that is about to change in 2018.
Currently trading at $4.00 per token, it has suffered the same loss of value as most altcoins since the 2017 surge, where it peaked at $9.00. However, there is every reason to believe that VeCoin could top out at anywhere between $50.00 and $100.00 per token by the end of the year, representing a growth of between 1250% and 2500%. Likewise, despite its current position as the 17th cryptocurrency on the market, this predicted rise would see VeChain safely nestled in the Top Ten ranking of the digital currencies.
This is all well and good, but what are we basing this prediction on?
It’s a three-pronged approach: track record, distribution, and application.
Such a rise would not be the first time VeChain has improved its value so swiftly. Indeed, it’s trading price at the start of 2017 was a mere quarter, meaning it grew by some 3600% in that year. In comparison, a 1250% rise is easily attainable.
In terms of distribution, VeChain is already ahead of all its competition – yes, even the Big Three of Bitcoin, Ethereum, and Ripple. It is the only altcoin that currently has a national contract with the Chinese government. It’s impossible to overstate just how important this is to the future trading price of the token. Should it perform well in its current role, further contracts would seem to be inevitable, and will not only swell the company’s own coffers, but also the value of the tokens themselves.
However, it is VeChain’s applications that will truly secure its place in the Top Ten. Distinguishing itself from purely financial exchanges, its development team has created one of the most versatile blockchains in the industry. With solutions already in place for the automotive, smart contract, catering, and supply chain industries, they are in a position to sneak in undetected to the higher echelons of altcoins, quietly signing new partnerships to their data distribution tech while everybody else obsesses with financial transactions.
With all this going for them, a $50 to $100 price cap might even be selling them short.