How to Buy VET Crypto on the Dip and Whether You Should
Investors considering buying the dip in VET crypto as the sector rebounds want to know its price prediction. Here's what they can expect.
July 21 2021, Published 1:34 p.m. ET
As cryptocurrencies rebound following the recent sell-off that pushed Bitcoin below $30,000, many investors are looking for the next cryptocurrency to explode. VeChain (VET) crypto is worth a look now since its price prediction suggests that it could pay off well for investors in the future.
Investors have a wide selection in the crypto sector from meme coins to more serious projects with potential durability. Many meme cryptos like Dogecoin have delivered incredible returns over a short period. However, they might not be ideal for a long-term investment. If you’re looking for a crypto that you could buy and hold for years, VET coin looks like a good candidate.
What is VeChain crypto?
VeChain is a blockchain platform for supply chain management. It launched in 2016. Its founders are Sunny Lu and Jay Zhang. Lu is an IT expert and previously worked for Louis Vuitton China. Zhang is an expert in finance and risk management and previously worked for auditing and consulting giants PwC and Deloitte.
VeChain's goal is to improve supply chain efficiency and transparency, which should reduce costs to benefit businesses and consumers. VET token powers the VeChain platform by facilitating transactions there.
Is VET crypto supply capped?
Many risk-averse investors might like VET crypto because of its capped supply. There are 64 billion VET tokens in circulation and the maximum supply is fixed at a little over 86 billion tokens. Cryptocurrencies with capped supply offer an in-built cover from inflation, which is a great risk in many meme coins.
VET crypto price prediction
At the current price of $0.066, VET crypto is down more than 70 percent from its all-time high of $0.28 reached in April 2021. That has left many investors eager to know VET coin's price prediction.
If VET crypto can sustain a compounded monthly growth rate of 30 percent from now on, it could get back to its all-time high by the end of 2021. At a compounded monthly growth rate of 10 percent, the crypto could reach $20 in five years, which implies a 30,000 percent potential return on investment at the current level.
Is VET crypto a good buy now?
VeChain blockchain looks to have a bright future, which makes VET crypto an attractive bet. The global supply chain management industry that VeChain is out to disrupt is on track to grow to more than $37 billion by 2027 from about $16 billion in 2019.
As more businesses come to the VeChain platform to boost their supply chain operations and cut costs, the use and demand for VET crypto should increase, which would cause the price to appreciate.
Buying the dip in VET coin has been rewarding even after the recent crypto meltdown. Even though the altcoin is down more than 70 percent from its peak, investors who bought the dip in March 2020 have seen their money grow almost 4,000 percent.
Where to buy VET crypto
If VET crypto’s price prediction aligns with your investment goal, you might want to accumulate the current dip. The altcoin is available on Coinbase, Binance, Huobi, Gate, and all major exchanges. That makes it both easy to access and highly liquid. If you want to buy VET coin with the U.S. dollar, the best place for that is Binance.
