Is Vechain a good investment in 2022.?

VeChain was founded in 2015 by Sunny Lu, the former chief information officer (CIO) of Louis Vuitton China.

VeChain is an enterprise blockchain platform that aims to provide a comprehensive view of an organization by removing information silos. VeChain also intends to establish itself as a leading platform for initial coin offerings (ICOs) and transactions between Internet of Things (IoT)-connected devices.

To “create a trust-free and distributed business ecosystem platform that enables transparent information flow, efficient collaboration, and high-speed value transfers.”

How Vechain works?

VeChain works by assigning a unique identity to physical products, typically via (radio frequency identification), QR Codes, or NFC (near-field communication). Sensors collect data at each stage of the supply chain, which is then recorded and linked to the product’s identity.

Is Vechain a good investment?

In 2021, VeChain followed the path of many other cryptocurrencies, starting the year at $0.02 before rapidly rising to and above $0.25 by April. It hit its all-time high of $0.2782 on 17 April 2021.

According to Coinmarketcap VeChain price in 24 January 2022 is $0.049911 USD with a 24-hour trading volume of $283,842,180 USD. VeChain is down 1.80% in the last 24 hours.

Vechain ranks 33rd in the list of cryptocurrencies by market capitalisation at $4.71bn. There are more than 64.32bn VET coins in circulation from a total supply of 86bn.

According to CoinCodex’s technical analysis, short-term sentiment on VET has shifted bearish, with two indicators displaying bullish signals compared to 24 bearish.