Even with the rebranding from VeChain to VeChain Thor (VET) and the release of the mainnet, VET didn’t make it back to 1$ or even gotten close to its all-time high of over 8$ per one unit.
It is more than obvious at this point, even outside November dips and despite the fact that VeChain is one of the most integrated blockchain-based projects, that VET is losing a lot of its value.
VeChain (VET) Price Today – VET / USD
Price 24H (%) 5.65%
Far from its all-time high and caught up with the latest dip that took over the month of November, VET is seen rising in the last hour at the time of this writing, but the rises that VeChain is able to acquire at this point are nothing more than a few drops in the ocean of frequent losses.
That is how VET is losing almost -100% of its value since making it to its record value, also losing on the YTD charts as the crypto is dropping by -98% against the fiat.
Will 2019 Bring Redemption for VeChain (VET) and Help it Bounce Back Up?
Driven by the frequent negative trends that took over November, VET is seen losing over -35% against the fiat in the course of the week.
Additionally, on November 23rd, the cryptocurrency is seen by over -10% down against the fiat, which indicates that the dip is far from over.
VeChain isn’t the only crypto dropping today as the market is once recording negative momentum for the cryptos, so almost the entire market is driven by the latest negative trend, dipping against the dollar.
It seems that there are no signs of recovery, at least not in the long-run since the only visible gains for VET by far are reflected in a lonesome set of 1% of rises in the last hour, while VET is dipping by over -10% in the last 24 hours.
Many are expecting to see VET rebounding with all major currencies at the end of December and the beginning of January 2019.
However, even if the cryptos take a rebound by the end of 2018 and the beginning of 2019, VET probably won’t be able to get further from the value of 0.011$ from its current value of 0.0051$.
At the same time, the current price of VET represents an all-time low for 2018.
Why Is VeChain (VET) Declining at an Accelerated Rate?
VeChain is probably one of the most integrated technologies in the blockchain space due to the fact that VET technology stands as highly applicable across numerous industries where blockchain can be used for improvement and advancement.
However, these integrations that VeChain Thor is scoring with numerous international companies do not include the strategy of pushing VET to adoption.
Since VET isn’t being brought to attention within these agreements and partnerships, rather having VeChain technology in focus without the need of the platform’s native currency, the demand is declining and with it the price of VET.
That is how any major gains that could bring VET at least to the value of 1$ appear somewhat unrealistic.