This week the VeChain team released their roadmap for 2023 which was not surprising to see the carbon footprint take center stage in sustainable infrastructure. This has to be where the blockchaisn future lies along with the other everyday use cases. This is all building towards 2026 when the EU Carbon regulation comes into effect. Companies cannot wait until then to be compliant and need to get their houses in order long before as the penalties will be financially severe for those that don't comply.
The biggest tell tale sign is not necessarily the amount of transactions happening daily but more so with the number of new wallets being created each week. This shows clear growth and this will explode in the near future due to the numbers involved. 15 598 new wallets this week alone shows the explosive rate that VeChain is now growing at.
The one difference is when the price starts to move this will not be due to a fake pump but more by the fact these enterprises/companies need VET to create their daily VTHO in order to pay for transactions on the blockchain.
If a company purchased 1 million VET ($21 170) this would create 432 vet per day allowing for a set number of transactions. The price of VTHO is kept stable for now which is to help speed up adoption by having cheap transactions. Last year the VTHO price was reduced 24 times in order to keep the fees the same price. At some point however this will not be possible as demand will increase the price as the 36 million daily VTHO that are created will be used up. Those that are investing by staking VET will be able to sell their VTHO earned on the exchanges to those that need them to transact on the chain.
This is along term hold compared to many other crypto projects as this is going to be a slow build up to the 36 million VTHO burned daily. The first signal will be the increase in the VET price which is still peanuts at $0.018c each. I can see this price surpassing $1 in the next few years which sounds kind of crazy, but this is genuinely realistic.
Again this is not financial advice and please always do your own research as it is not only fun but you may also learn something. Knowledge is power and the more you know the more you understand about your investment. This is the fun part about crypto which many fail to see as this is more than an investment as growing with a project is just as rewarding.