The blockchain project Vechain has real-world connections and partnerships that few other cryptocurrencies can match. However, will it be able to reach $100?
Vechain’s price is not likely to break through $100, but it could potentially reach half this value. The market cap would skyrocket nearly 6.5 trillion USD if Vechain reached its 100 dollar target.
For Vechain’s price to reach $100, there is a need for government-level partnerships and large institutions on board with cryptocurrency in general.
Nevertheless, Vechain has many significant partnerships, and more are on the way. Yet, It’s nearly impossible to reach $100 for a cryptocurrency with such a high supply.
Let’s break it down:
To value any cryptocurrency project, look at the price per coin/share and multiply it by how many coins/shares there are.
Value = number of coins/shares * price per coin/share.
When comparing the value of different cryptocurrencies/companies, look at their market capitalization (Market Cap). To get this number, you take a cryptocurrency’s price and multiply it by its circulating supply.
This is why cryptocurrencies with an ample supply are priced lower, as the value of each coin gets divided by many coins.
Vechain’s supply is enormous. That is why it is a low-priced coin.
Here is the amount of Vechain in circulation, compared to other Cryptocurrencies
The left vertical axis increases exponentially. Every tick-up is a 10x increase in supply. So you can see that Vechain has a much higher supply than Ethereum and Bitcoin combined.
It also has more than the total supply of Algorand, which had an even more extensive initial offering compared to other coins on this chart!
Although it is a challenge for Vechain to reach 100 dollars due to its massive supply, it is possible.
Let’s indulge in deeper analysis:
What would be the scenario if Vechain reached 100 dollars?
Vechain’s market capitalization could increase significantly if the cryptocurrency reaches $100.
Recall: Market cap = number of coins * price per coin.
If Vechain were to reach 100 dollars, it would be a significant milestone for the cryptocurrency. To determine if this is possible, we must look at other coins and their market caps to see how they compare.
Market Cap = 64.5 Billion VET * $100/VET = $6.45 Trillion
In other words, if Vechain reaches a price of $100 per coin, the market capitalization would be about 6.45 trillion dollars.
Let’s compare this to Bitcoin and Ethereum expectations at the peak of the cycle.
Considering Bitcoin is likely to hit $100000 and ethereum $8000
Check out the comparison of market caps at these prices:
Vechain is likely to remain under $100 this cycle since it isn’t expected to surpass both Ethereum and Bitcoin, nor grow five times the size of Bitcoin even after Bitcoin reaches 100 000.
If Vechain keeps up the good work, it might reach $100. However, altcoins have very little room to grow because Bitcoin is already dominating the market share.
However, that may change in the future as more people begin using cryptocurrencies and not just holding them for investments like they do today.
How Can Vechain Reach 100 Dollars?
Although making it to $100 is a long road for Vechain, some things could send Vechain up this path and help contribute to its potential price explosion.
For example: In a hospital in Cyprus, test results for Corona are verified on an app developed on the Vechain blockchain. This is big for Vechain.
If the project becomes successful, there is a likelihood more companies will join Vechain for digitization purposes.
This example explains the potential of Vechain.
Have Other Coins Surged Like That In The Past?
Yes, severally! In 2019, AAVE, the early DeFi coin, did it. AAVE surged by over 200,000% in approximately two years
If you put $10 000 in AAVE at the absolute bottom of August 2019, your bank account would have turned into a black hole.
In fact, it could’ve been worth up to 20 million dollars! That’s an incredible return on investment (ROI) because you’d be making 20x every dollar invested.
Since March 2020, another altcoin, DOGE, surged up by 40,000%
Yes, Vechain Can Reach 100 Dollars
As proven by other altcoins like AAVE and DOGE in the past, Vechain can reach 100 dollars. However, it is unlikely to happen anytime soon as growth will slow down now that most of the market is under capture.
If Vechain were priced at $100, it would have a market cap of almost 6.5 Trillion USD. Twice as high as all cryptocurrencies combined! To reach that price, though, we need to see big-time use cases involving significant institutions and governments.