VeChain (VET) has been showing impressive performance recently, with a notable increase in value of over 75% since February 7. If this positive trend continues, investors could be on the verge of significant gains.
In this article, we explore how much you should invest in VET to reach a profit target of $1 million, or even more.
The potential of VeChain: Only one million on the way
Investors have been speculating for a while about the potential of VeChain (VET) to reach a price of $1. Compared to the current price of $0.045, this would represent an impressive increase of over 2,100%. Even compared to the previous all-time high (ATH), a price of $1 would represent an increase of about 250%, which is certainly not outside the realm of possibility.
To become a millionaire by investing in VeChain (VET), if we assume that VET reaches the value of $1 per coin, an investment of approximately $45,000 is required, based on the current rate of $0.045. This means that if VET increases in value to $1, the value of your investment would grow to $1 million.
Analysts are optimistic
Although it is always uncertain whether predictions will come true, there is a positive mood among many crypto analysts. Renowned crypto analyst Ali Martinez recently pointed out a completed consolidation phase for VET and compares it to that of 2020. After this, the crypto saw a significant increase during the 2021 bull market.
Martinez predicts that VET could rise to $0.05 in the near term, with a more ambitious target of $0.7 by the end of this year. It would represent a significant growth of more than 1,400%.
Successful collaboration with Walmart
Positive developments for VeChain come not only from market analysts but also from the successful collaborations and performance of the network. Recently, the Walmart China Blockchain Traceability Platform, which has been running on the VeChainThor blockchain since 2019, reached an important milestone with the registration of the 200 millionth transaction. This platform plays a key role in promoting food safety and traceability, which significantly improves reliability and efficiency in the food industry.
Sunny Lu, the CEO of VeChain, is optimistic about the future of blockchain in the crypto sector and emphasizes the importance of innovation as a driver of growth and adoption. This recent achievement marks a strong start to the year for VeChain and highlights the potential of blockchain technology to bring revolutionary changes to the food industry.
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Source: https://newsbit.nl/hoeveel-vechain-moet-je-kopen-om-miljonair-te-worden/
