- VeChain is going all-in on two sectors—real-world asset tokenization and sustainability—and with the two projected to be worth $26 trillion and up to $68 trillion by 2030, VET could soar to new heights.
- According to one analyst, VET is replicating its price pattern from 2018, just before it embarked on the rally that took the price to $0.268, its all-time high.
While Bitcoin pursues its digital gold market and Ethereum dominates DeFi and dApps, VeChain has established a significant lead in two major sectors—sustainability and the tokenization of real-world assets. In a bullish scenario, the two have been projected to be worth a combined $94 trillion by 2030, and according to one analyst, VeChain’s VET could benefit massively and hit new all-time highs.
VeChain founder Sunny Lu has championed sustainability for years, leading to initiatives such as the long-running partnership with the Boston Consulting Group. VeChain also launched VeBetterDAO, whose mainnet launch was last week, as Crypto Key News reported.
VeBetterDAO is an ecosystem that rewards users for engaging in actions that foster sustainability. It includes a raft of dApps, such as MugShot, GreenCart, Cleanify, and Vyvo, all catering to different areas and awarding users with tokens for documenting their sustainable actions.
VeBetterDAO is also home to EVearn, a platform that rewards drivers of electric cars with B3TR tokens to charge their cars. While the partnership initially began with Tesla, Lu and the teams are working towards expanding the scope.
According to a BCG study, crypto analyst AJ notes that sustainability and decarbonization will deliver up to $26 trillion by 2030. VeChain is well-positioned to be at the forefront of this revolution.
RWAs are projected to be worth $16 to 68 TRILLION by 2030…
Sustainability: $26 TRILLION by 2030@vechainofficial, aiming at both narratives, is primed to have one HELL of a bull run!
Big thank you to @sunshinelu24! #VET#VECHAIN PRICE PREDICTION ⬇️https://t.co/uGPmIglZ4X pic.twitter.com/2Nx2IPh6Ap
— Aj (@Ajwritescrypto) July 1, 2024
Beyond sustainability, VeChain has also championed the tokenization of real-world assets. For instance, it has partnered with the UFC to include its technology in the latest gloves to track for authenticity, with more applications of this partnership coming soon.
According to BCG’s conservative estimates, tokenization will be worth $16 trillion. The consultancy says that in the best-case scenario, tokenization could deliver $68 trillion by 2030.
AJ says:
If you could get 1% of the $26 trillion projection for sustainability, and 1% of the $16-$68 trillion projection for RWAs…what VeChain is doing here doesn’t get enough credit. The fact that they are going after both sectors makes VeChain a threat.
On the price side, the analyst noted that since it hit an all-time high in 2018, VeChain has added 16.6 billion VET tokens to the supply, or 25% of the then-circulating supply. This was bound to affect the price.
VET’s all-time high price is $0.268, and even if it surged and hit this price today, VeChain would still not recapture its all-time high market cap due to the influx of new tokens.
So we have to overperform in the market cap department by 25% more than we did in 2021 to make up for the fact that the supply has grown.
Still, the analyst believes that a bull rally is approaching. He pointed to similarities in the charts today and the pattern right before the 2018 bull rally. As shown below, VET rallied briefly, before dipping by over 50%, and then embarked on its all-time high rally. Similarly, the token recently rallied but has since dipped by 57%, indicating that a mega rally could be on the horizon.
