VET Price Analysis October 2022

VET is a token of the platform VeChain. Its current price is around $0.02192 at the time of writing, with a low of $0.02012, and it has a market cap of 1.5 billion dollars.

What is VeChain?

VeChain aims to connect public and private blockchains to improve scalability. It has been operational since 2015 and is currently one of the first blockchains offering its service. VeChain offers a blockchain platform enterprises can use to build their decentralized applications. It also strongly focuses on IoT, providing the necessary infrastructure so that all the devices’ data is recorded and available for viewing without any constraints.

What is VET?

VET is the coin of the VeChain platform, which is around $0.02192 at the time of writing, with a low of $0.02012. It reached a high of $0.1875, and its current ranking is #33, according to CoinMarketCap, with a market cap of 1.5 billion dollars. The VeChain (VET) token is the native token of this blockchain. It fuels transactions on the network, and VeChain aims to build a distributed business ecosystem that is transparent & efficient.

VET Coin Market Analysis 

VET has a total supply of 85,985,041,177 coins worth around $0.02192 with a market volume of 50 million dollars, whereas the market capitalization is 1.5 billion dollars at writing. 

VET Price Prediction

VeChain (VET) provides a lot of value for its investors. Its blockchain is used by over five company partners and 40 companies that use VeChain daily. In the 4H timeframe, the price action of $VET/USDT rises from the horizontal support zone. If it breaks its mid-trendline, then further, it can go upwards. Currently, the price is trying to break its mid-trendline. So we have to wait for a successful breakout.

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Vet Price Chart October 2022
VET Price Chart October 2022

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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