Crypto analyst predicts: VeChain price could rise 14,600%

In the crypto world, altcoins tend to follow the path of Bitcoin (BTC), especially during periods of significant price increases. A recent example of such a project that has increased significantly in value is VeChain (VET).

Since September last year, VET has experienced an impressive growth of 240%. This month alone, the currency has made an exceptional jump, rising 80% since the beginning of February. As a result, the VeChain price is at its highest point in almost two years.

Can the VeChain price rise to $2?

Although the recent price increase is already impressive, crypto analyst ‘EGRAG Crypto’ states that there is much more growth potential. According to this analyst, VeChain’s value could potentially increase by a factor of 140.

The analyst explains that the expectation of a fifty times higher price is inspired by what happened in 2019, when VeChain (VET) experienced an incredible growth of 5,892%. EGRAG believes that if VET were to see such a huge growth rate again, the price could rise to $0.90.

For the even more optimistic estimate of a hundred and forty-fold increase, EGRAG points to 2021. That year, VET shot up 14,638%, reaching its all-time high price of $0.27. If VeChain were to experience such spectacular growth again, the coin could climb to a price of $2, according to this analysis.

Partnership with Walmart

VeChain’s success can be partially attributed to a recent milestone in its partnership with Walmart China, which saw an impressive number of more than 200 million transactions processed through the company.

This achievement took place on the Walmart China Blockchain Traceability Platform, a significant sign of progress in the application of blockchain technology to ensure food safety and improve traceability. The fact that Walmart’s platform has processed nearly four times as many transactions as VeChain’s main network highlights the partnership as a powerful testament to blockchain’s scalability and effectiveness in real-world applications.

Trade €10,000 for free and get a 10 euro bonus

Do you want to enter the crypto world and perhaps buy VeChain or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.

Create an account with Bitvavo via the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!