Among the many existing blockchain projects, some use two or more native tokens in their work. One of these projects is VeChain. This article will tell you about one of the project's two cryptocurrencies, VeThor (VTHO). We'll explore this token's function, conduct a technical analysis, and learn VTHO future price predictions.

What is VeThor (VTHO)?

VeThor is one of two tokens used in the VeChainThor ecosystem. You can read more about the second token, VET, and the VeChain project in this article.

The origins of VeThor

The VeChain project was founded in 2015 by Chinese IT specialist Sunny Lu and financial expert Jay Zhang. Initially, the project aimed to create a blockchain platform that would allow users to manage supply chains and prevent counterfeit goods. At the time, VeChain was running on the Ethereum blockchain and only used one token, VEN. However, in 2018, when the platform's functionality was expanded, the project was transferred to its own blockchain and rebranded. As a result, VEN tokens were replaced by new ones, VET and VeThor (VTHO).

We aim to build a leading enterprise-focused dApp/blockchain application platform for products, services, and data. — Sunny Lu, VeChain Co-Founder and CEO.

VeThor's features

VeThor is a VIP-180 standard token based on Ethereum's ERC-20 token standard. Since transactions on the VeChain network require computational power, the VTHO token is used to pay for all transactions on the network. Moreover, the size of the transaction directly affects its cost.

VTHO is generated from any address containing VET at a predetermined generation rate. 70% of the VeThor tokens paid for each transaction are destroyed. The rest are assigned to the Masternode operator, who validates and processes the blocks.

VeThor (VTHO) price analysis

At the time of writing, the VTHO token ranked 308th among cryptocurrencies by market cap at $64,923,922.11.

VTHO price statistics (as of 06/07/22)

VTHO's price history

The token was listed on crypto exchanges to be traded shortly after the VeChain project was rebranded in July 2018 and transferred to its own blockchain.

VeThor price prediction 2018

The token was listed on crypto exchanges at the end of July 2018. Its price quickly climbed to an all-time high. But this trend was very short-lived as it turned bearish the next day and continued until October 2018. The token market price stabilised at around $0.0003 - $0.0005.

VeThor price prediction 2019

At the beginning of 2019, the price declined to a new minimum of $0.0002. But by mid-February, the trend had changed yet again to a bullish one that continued until 18 July 2019, when the price reached the local high of $0.016. After that, the trend reverted to bearish, which lasted until the end of October. Following this, the price rose and, after several wide fluctuations, started moving sideways in the range of $0.0005 - $0.0006.

VeThor price prediction 2020

In early 2020, the price continued moving sideways before it began to decline in mid-February. That decline turned into a sharp drop in March, along with the rest of the crypto market. Its price reached an all-time low in mid-March. After that, the crypto market began to recover, and VTHO followed suit. On 24 July 2020, the token's price spiked to the local maximum of $0.0035 before correcting and moving sideways in a wide range of $0.0005 - $0.001 through the end of the year.

VeThor price prediction 2021

Like a lot of other cryptocurrencies, VeThor started the year well. Before the end of February, it had grown more than 1200% before any price retracement. In March 2021, the price correction ended, and VTHO's price skyrocketed again by over 600%. After that, the market structure was consistently bearish. By the end of the year, VTHO had lost more than 80% of the growth it accumulated in 2021. 

VTHO technical analysis

VeThor is currently bearish and has been so since it failed to reclaim its all-time high back in late July 2021. The market structure on all major timeframes is overwhelmingly bearish, and the price keeps breaking through different support levels to form a descending wedge. As of 6 July 2022, the price is trading above the support level at $0.0011 and has consolidated for a while. The support at $0.0011 also coincides with the wedge support. A break below the wedge and consolidation may represent a potential impulse move lower. Right now, VTHO is more likely to trade lower than it is to trade higher.

VeThor (VTHO) token price prediction for 2022, 2023, 2025 and 2030

Now it's time to look at VeThor token price predictions made by popular forecasting services.

TradingBeasts' VTHO price prediction for 2022, 2023, 2025 and 2030

According to TradingBeasts' forecast, VeThor is a profitable investment. They predict a slight increase in the token's price to at least $0.0017 by the end of 2022. It is predicted to stabilise within the $0.0017 - $0.0030 price range and remain there until 2023. In 2024, the price is expected to reach trade higher and stabilise above $0.0014.

Wallet Investor's VTHO price prediction for 2022, 2023, 2025 and 2030

Wallet Investor is more pessimistic about the prospects of the VeThor token. According to their estimates, the token's price will fall by over 90% in the next year, reaching as low as $0.0001.

DigitalCoinPrice's VTHO price prediction for 2022, 2023, 2025 and 2030

DigitalCoinPrice concurs with Trading Beast's forecast, except they are somewhat more optimistic. According to their calculations, the token will be worth $0.0022 in a year, $0.0024 in two years and $0.0037 in five years.

alt10: DigitalCoinPrice's VTHO price prediction for 2022-2030

VeThor (VTHO) overall future value predictions

The token's future depends entirely on the future life of the VeChain project. It should be noted that despite high competition, this project is developing quite successfully and has a strong development team and partnerships. Most of the concerns are related to two points:

• A low degree of decentralisation, which potentially could lead to problems
• Too broad a niche

Will VeThor's price go up?

If the project continues to develop successfully and the crypto market maintains its overall growth, it's highly likely to go up.

How high can VTHO go?

It depends on many factors that can change the price behaviour. In the case of a new bull run on the crypto market, similar to the last one, the token price may reach $0.22.

VeThor price prediction today

At the moment, the token's price is moving in a bearish trend. At the same time, the global bullish trend that began in the spring of 2020 has seemingly come to an end and it doesn't look good, in the short term for VTHO.