Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Is It Time to Buy VeChain (VET)? – Three Reasons Why We Think So

CryptocurrencyNov 07, 2021 06:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Is It Time to Buy VeChain (VET)? – Three Reasons Why We Think So

  • VeChain is one of the more advanced crypto projects, solving problems in supply chain and product lifecycle management.
  • VeChain is preparing for a network upgrade in November, which could lead to a rally for VET.
  • Capitalizing on its successful technology, VeChain is building towards attaining sustainability.
  • VET is currently undervalued, trading at almost half of its all-time high.

Today, blockchain has evolved into more than just cryptocurrencies. VeChain is one of the few cryptocurrencies that transcends being a cryptocurrency, to cater to the needs of enterprise-level clientele.

VeChain employs distributed ledger technology (DLT) to improve businesses’ supply chain and product lifecycle management. Technology-wise, VeChain has a lot going for it, but is this the best time to buy its VET tokens?

VeChain Is Preparing a Revolutionary Network Upgrade Since its launch in 2015, VeChain has been hailed for its unique use of blockchain technology. VeChain tackles supply chain issues by creating a public record of Radio Frequency Identification (RFID) tags.

VeChain’s blockchain has earned it a certificate from China Association for Standardization. It is also the first public blockchain to answer the call of international organizations to offer a blockchain toolkit for real-world demands.

While significant upgrades have been made since its launch, VeChain is looking to improve its network with the VeChainThor v1.6.0 network upgrade. The launch of the VeChainThor v1.6.0 will prepare the VeChain blockchain for the POA2.0 Phase 1 activation upgrade.

The VeChain network still has plenty of room to grow, especially if its supply chain, blockchain software gains popularity and is further utilized by corporations. By increasing its security and performance via the POA2.0 upgrade, VeChain could gain more adoption.

The POA2.0 network upgrade is being described as the first protocol of its kind in the world. POA2.0 combines Byzantine fault tolerance, and Nakamoto consensus mechanisms to eliminate their weaknesses, but benefit from their strengths.

POA2.0 will guarantee that data is ‘finalized’ immediately, and ensures that no accidental forks of the network can occur. In addition, POA2.0 will prevent ‘branching,’ which can temporarily disrupt a blockchain, leading to data loss.

The Testnet of POA2.0 will launch on November 5th, while the mainnet is scheduled to go live on November 16th on block #10653500. The successful launch of POA2.0 on the network could lead to more gains for VeChain (VET).

Most network upgrades have resulted in significant price rallies for their native tokens. Buying VeChain (VET) before the POA2.0 upgrade goes live could therefore be a good short-term investment.

The Best Price You Can Buy VeChain (VET) at

Unlike most leading cryptocurrencies, which are currently at their all-time highs, VeChain’s (VET) price is sitting at roughly half of its ATH. In April, VET hit its highest ever value of $0.2782.

VET is currently priced at $0.1369, at the time of writing, gaining 3.88% over the last 24 hours. This means that VET is presently undervalued. If VeChain were to rally to its all-time high, investors who purchased at this price would receive a return on investment of at least 100%.

The year-to-date price chart for VeChain (VET). Source: Tradingview

The performance of the project, more than anything, sets up a bright future for VET. Buying VET at half its ATH is about the best price you could buy VeChain for.

On The Flipside

  • Given the current price and momentum of VET, analysts have predicted that VET’s price might reach $0.25 to $0.30 by the end of 2021
  • The current price of VET puts its at a wide margin from its end-of-the-year prediction

VeChain Is Building Towards Attaining Sustainability

While cryptocurrencies have been criticized for using too much electricity and not being good for the environment, VeChain emphasizes Sustainable Development Goals. More than simply its current developments, the VeChain Foundation is working towards achieving carbon-neutrality.

The VeChain Foundation recently announced that it had joined San Marino’s National 2030 Agenda For SDGs. VeChain and DNV GL worked together to develop the Low Carbon Ecosystem strategic tool to help the Republic of San Marino become the first carbon-neutral state.

Being a pioneer in the integration of IoT and DLT technologies also strategically positions VeChain (VET) for success when these technologies receive mainstream adoption.

Between these significant recent developments, and its future plans of attaining carbon-neutrality, VeChain currently sits in the early stages of its development. Purchasing VET in 2021 could be seen as buying the crypto before it blossoms.

Why You Should Care?

More than most projects, VeChain demonstrates the growing maturity of the blockchain sector. The project exemplifies the statement that “blockchain is more than cryptocurrencies.” The value of VET is predicted to increase as more people become aware of, and leverage the potential of, the VeChain blockchain.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Is It Time to Buy VeChain (VET)? – Three Reasons Why We Think So

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email