Could VeChain (VET) Crypto Be Low Risk & High Potential?

Since the start of 2023, the VeChain network is pushing all the right buttons, surpassing new milestones in two months. The network surpassed 2 million known addressees on Tuesday and facilitated more than 20,000 contracts. The daily transaction is also seeing a spike as the blockchain recorded a significant jump in in on-chain activity fueled by Fortune 500 blockchain adoption. VeChain is recording tremendous activities and VET’s price is a low-hanging fruit that’s up for grabs in the markets. Is VeChain a good investment for the long run? Let’s find out!

 

Is VeChain (VET) a Low Risk and High Potential Crypto?

Nothing comes without the risk factor in the stock and cryptocurrency markets, as the ‘tag’ risk is always associated with them. While VET is available for purchase at less than a Cent, it comes with a lot of baggage along with it. It’s price was unable to climb above the $0.50 threshold during the bull run in 2021 and is down 92% from its all time high of $0.28.

 

Reaching its ATH from here could be a herculean task considering that the global markets remain weak. There’s uncertainty of job cuts, rising inflation, and murmurs of an upcoming recession is growing louder.

 

Therefore, taking an entry position into VET might now might not be a good financial decision. The markets could take a u-turn this year shedding all gains that it generated since January.

 

However, taking an entry position during the dip and accumulating VET along the way could be a sound choice of investment. VeChain has potential and could rally hard when the bull markets make a comeback.

 

In conclusion, avoid short-term investments in VET and chose the long-term to get decent returns during the bull run.

 

At the time of writing, VET coin was trading at $0.023, down 4.3% in the last 24 hours. VeChain price is also down 91.56% from its all time high of $0.28 recorded in April 2021.

 

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