Blockchain networks are becoming complicated to enable optimized user interfaces and progressive use cases as cryptocurrencies and blockchain projects mature. As a component of a dual-token system that comprises VTHO and VET tokens to allow the VeChain Thor network, VeThor Token is one such project.
The VeThor Token (VTHO) is the main form of payment on the network and is crucial to the overall functionality of the VeChain Thor blockchain. VeThor Token and VET are interconnected and crucial components of the VeChain Thor blockchain. Following the project’s renaming in 2018, VTHO, which stands for a smart contract layer on the platform, joined the VeChain ecosystem.
You’re curious about VTHO but unsure what it is or where to start? This article aims to provide you with all the information you want on the project and prepare you for the most straightforward trading environment currently available.
What is The VeThor Token (VTHO)?
The VeChainThor blockchain’s dual-token structure includes the VeThor Token (VTHO), which is essential to the network’s operation. A Blockchain-as-a-Service platform called VeChain Thor offers services to companies that use smart chips. NFT chips, QR codes, and RFID trackers may be implemented on the blockchain with the VeChain Thor network for the corporate Internet of Things.
The main payment method in the VeChain ecosystem is the VeThor Token, which also serves as the network’s gas currency. Every transaction on the network must use VTHO, which is also used to send information to smart contracts. The VeThor Token is used to carry out all transactions and smart contract functions.
VeThor Token is essentially a VIP-180 standard token and a layer for smart contracts. The network gives users the ability to smart multi-party payments and manage multi-task transactions through the use of VTHO tokens.
What is VeChain?
VeChain is a platform for businesses that use blockchain technology to increase supply chain management efficiency and transparency. The project was launched in 2015 by Sunny Lu, the former COO of Louis Vuitton China. Then, in 2016, VeChain was introduced.
One of the first in the cryptocurrency sector to offer businesses blockchain supply chain services was the VeChain project. VeChain was initially developed on the Ethereum blockchain. The native VeChain token ticker at the time was VEN. On the VeChainThor network, the genesis block was generated in June 2018. The VeChain ecosystem changed and grew after this. The ratio of old ERC-20 VEN tokens to new VET tokens was 1:100. Furthermore, this led to the launch of the VeThor VTHO token.
How Does VeThor Token Work?
The dual-token infrastructure that enables customers to take advantage of quick transactions and operations for enterprise services on the BaaS platform includes VeThor Token (VTHO) and the native token VET. Without VTHO, no smart contract or transaction can be performed, whereas VTHO would not exist without VET.
The cost of using VeChain Thor is expressed by VTHO, which is produced using VET tokens. VET is traded on the open market. Keeping a VET balance entitles you to VTHO since holding a VET balance generates VTHO. Since the two tokens are interdependent, there wouldn’t be any VTHO without VET, and there wouldn’t be any way to pay for VET transactions without VTHO.
The number of VET tokens you own determines how many VTHO you receive. The system produces 0.00000005 VTHO for one VET owned by the users for each new block that is produced on the network. Per 10 seconds, a block is generated, allowing users with 1 VET in their account to earn 0.000432 VTHO daily.
The remaining 30% of the VeThor tokens are sent to the Authority Node once 70% of the tokens have been used to cover the transaction expenses for delivering data to smart contracts. The organization that verifies network transactions is known as the Authority Node.
VeThor Token Price Analysis
VeThor Token went live in 2018. According to CoinMarketCap, the coin was trading at $0.042, reaching its all-time high.
Immediately after, VTHO started to decline, resulting in significant losses for investors as it was trading at a maximum of $0.0004 in November 2018, $0.0007 in November 2019, and $0.0006 in November 2020. As of 2021, the year started on a good note for VeThor Token. Around that time, the coin was trading at $0.02 at its highest and $0.004 at its lowest.
This year started bearish for VTHO, and because of the market crash, the coin experienced declines only since February. Currently, VTHO is trading at $0.001, a 96.05% fall from its all-time high.
Rank: 256
Crypto Academy VeThor Token (VTHO) Price Prediction
After a deep market analysis and research on VTHO’s previous prices, we came up with our own price predictions for the coin.
Crypto Academy VeThor Token (VTHO) Price Prediction 2022
The first two quarters of 2022 were not as bullish as investors expected for VTHO. Because of the market crash, its price significantly declined, and the coin is currently trading at $0.001. Even though going through a crash, we at Crypto Academy predict that VTHO might increase in the remaining months, reaching a maximum of $0.012, and might end the year at an average of $0.009.
Crypto Academy VeThor Token (VTHO) Price Prediction 2023
2023 might start on a good note for VeThor Token. During the year’s first quarter, the coin can trade at $0.011 and slowly increase in the following months. We predict that VTHO might end the year at a maximum price of $0.036, a minimum of $0.009, and an average of $0.024.
Crypto Academy VeThor Token (VTHO) Price Prediction 2024
As of 2024, we can expect the VeThor Token to trade at a maximum price of around $0.043, as such reaching a new all-time high. By the end of the year, the coin might trade at a minimum of $0.029 and end 2024 at an average of $0.039.
Crypto Academy VeThor Token (VTHO) Price Prediction 2025
With the Bitcoin halving happening this year, we can expect VTHO to increase in 2025 significantly. Crypto Academy predicts that VTHO might reach a maximum of $0.13, an average of $0.058, or a minimum of $0.041.
Crypto Academy VeThor Token (VTHO) Price Prediction 2026
2026 is expected to be a bullish year for VeThor Token. During this time, we predict the price of VTHO might stay stable and reach a maximum of $0.146, a minimum of $0.11, and end the year at an average of $0.140.
VeThor Token (VTHO) Market Price Prediction
Many crypto experts believe that VTHO has potential and could burst in the future. Here’s what some of them have to say.
PricePrediction.net
Experts at PricePrediction.net predict a bright future for VTHO. However, a slow one. For this year, they expect the coin to end the year at a maximum price of $0.002. 2024 might see the coin trading at $0.005 at its highest and $0.004 at its lowest. According to them, 2028 could be a better year for VTHO, with a trading price at a maximum of $0.022 and an average of $0.019. VeThor Token can end this decade at a maximum price of $0.044 and a minimum of $0.038.
Trading Beasts
As of Trading Beasts, they expect the price of VTHO to end the year at around $0.0019. 2023 can see the coin trading at a similar minimum price as 2022 and a maximum of $0.0028. As of 2024, they expect VTHO to be around $0.0037 at its highest price and an average of $0.0029. In 2025, VeThor Token can end the year at a maximum of $0.0042 and a minimum of $0.0029.
TechNewsLeader
TechNewsLeader is another reliable source when it comes to crypto predictions. They suggest that VTHO might end this year at a price of $0.003. In 2026, they see the coin trading at a maximum of $0.012. At the end of the decade, in 2030, TechNewsLeader predicts that VeThor Token’s price might trade up to $0.055.
How To Buy VeThor Token (VTHO)?
We will show you how you can buy VTHO in Binance in three simple steps.
Step 1: Open A Binance Account
In order to purchase your VTHO tokens, first, you need to open an account. This first step is a simple process. You can open an account by providing a valid email address, username, and strong password.
After opening an account, you must verify your account by using a valid ID. The verification process can take up to 24 hours.
Step 2: Fund Your Account
The next step is to fund your account. You can verify your account by using one of the following methods that Binance offers its users:
- Credit/debit card
- Bank deposit
- P2P trading
- Third-party payment
Choose your preferred method and enter the amount you want to deposit.
Step 3: Buy VTHO
The last step is to purchase your VTHO tokens finally. Enter the amount of VeThor Tokens you wish to purchase and press BUY.
Frequently Asked Questions (FAQs)
What is VeThor used for?
The VTHO cryptocurrency sometimes referred to as VeThor Energy, is short for VeChainThor Energy. It is used to power VeChain transactions and has a cost equivalent to that of carrying out transactions on its blockchain.
Is VeThor Token a good investment?
A good long-term profit potential exists for the VeThor Token. By continuing to grow in price, market cap, and trading volume over the long run, VTHO is expected to be a profitable investment and produce excellent returns for investors.
How much will VTHO be worth in 2025?
By the end of 2025, VeThor Token is expected to trade at a maximum price of $0.13 and an average of $0.058.
Takeaways
- The VeThor Token (VTHO) is the main form of payment on the network and is crucial to the overall functionality of the VeChainThor blockchain.
- VeThor Token is essentially a VIP-180 standard token and a layer for smart contracts.
- Per 10 seconds, a block is generated, allowing users with 1 VET in their account to earn 0.000432 VTHO daily.
- VeThor is not expected to reach $1 in the near future. However, that is possible for the long term.