With the latest development in the world and the impending worldwide economic crash, bitcoin failed to decouple itself from traditional markets and lost 40% in one day. Read More: Voyager CEO Says Revenue Growth Accelerates 8-Fold as DeFi Trading Surges. What makes this deal unusual is that the two companies’ utility tokens, VGX and LGO, will be swapped into newly minted tokens featuring decentralized finance (DeFi) functions such as community governance and staking at an initial interest rate of 7%. In December 2019, the VeChain Foundation’s security was breached, and hackers siphoned $6.5 million in VET. Vechain was established by Sunny Lu (former CIO of Louis Vuitton China) in 2015. This gives it a Huge advantage over many other crypto projects. VeChain partnered with Oxford University. Source: https://www.coindesk.com/hex-trust-sia-crypto-custody-eu-banks, The venture builder is seeking to invest in early-stage startups with a focus on transparency, privacy and “fairness.”. Other long term VeChain price predictions are overly optimistic, putting the coin’s price at around $70 in five years while others project a rate of 0.1 USD in 2025. As indicated by VeChain’s highly diverse partnerships, the blockchain platform sets out to bring the advantages of decentralized applications and smart contracts to a large number of different industries. The security breach was most likely due to the misconduct of one of the team members within our finance team.”. Additionally, these partnerships involve international companies such as BMW, DNGV GL, Bayer, and PwC. Since the project is not complete, new changes can easily and quickly be implemented, helping it compete better with other similar platforms. Smartereum is a site that regularly publishes cryptocurrency predictions. The Foundation wrote that its mission in the New Year is to “grow the transactions with business value and build infrastructure services around the VeChainThor blockchain to facilitate mass adoption.”. Again, If VET maintains its relevance in the industry and manages to stay ahead of their competition, it will surely be 100x+ more worth than now. According to Ovadia, Collider forms partnerships with founders, invests in teams and works alongside them as what he calls “Investors in Residence.”, Source: https://www.coindesk.com/collider-labs-raises-1m-to-invest-in-blockchain-startups. Although Dedic did not give any timelines, he predicted that VET would reach $1, an increase of approximately 14,000 percent. Smarterum.com expects VeChain to provide “complete integration of the blockchain-based platform with the actual business world”. Renaudin told CoinDesk that the company’s other option would have been focusing on better serving its institutional clients, which means its spot exchange would have to provide new and exotic derivatives products. At its peak in April 2018, the LGO token’s market cap was nearly $40 million, according to data from CoinMarketCap. VeChain 2021 Price Prediction. VeChain is supported by the VeChain Foundation, which handles the research and development of the platform and fishing for partnerships. Gov.capital projects that this decline will continue for the rest of the year, forcing the coin to change hands at a best price of $0.00304 on December 31, 2020. Bayer chose the blockchain project to power CSecure, a blockchain-based platform to track drugs at various waypoints. This may be the time it reaches Dedic’s price of $1. Mega Crypto price predicts that VeChain might reach $0.258 by the end of 2021 and $0.612 by the end of 2023. The company is actively seeking to invest in early-stage blockchain and crypto startups globally, with a focus transparency, privacy and “fairness.”. VeChain Thor’s goal is to be an enterprise geared blockchain ecosystem focused on governance and ease of use. One such firm is Bayer China, a leading pharmaceutical company. To adequately power supply chains, VeChain Identity (VID) technology allows manufacturers to assign distinct identities through asset digitization. Therefore, when Bitcoin is stable, it forms as the ideal base currency for buying altcoins (which is why altcoins tend to do well when Bitcoin goes sideways). Since they increased the vet supply 100%, the price per coin is lower. Commenting on the hack, the foundation said: “We have narrowed down the possibilities enough to lead to a highly probable theory. — About Document Driven Trading, Open Finance: A Simple Guide to Using MakerDAO and Compound, Causing A Ripple … The Cryptocurrency Competing Against SWIFT, Token valuation: The misunderstood importance of token economics, Some Harsh Advice for the Blockchain Industry. Is there blood in the streets? In July, crypto investors will buy VET at an average price of $0.01550, with the price projected to increase to $0.02086 in December 2020. VeChain is Asia-based project that is expanding its IoT and supply chain focused platform through the creation of the VeChain Thor network. With some “key characteristics” that differentiate it from a typical accelerator. Collider “is a venture builder that somewhat resembles an accelerator” Ovadia said. The rest of the market slumped in an even harsher fashion, losing 50%+ in one day. The agreement, which clears 60% of voting power to committed VET holders will allow the community to take part in governance changing and developmental conversations.