How much will VLX (Velas) increase in 2024? Will VLX (Velas) soar in 2024?

Despite market fluctuations in 2022, Velas (VLX) has maintained an upward price trend, with analysts predicting continued growth in 2024, projecting potential gains up to 33%.

Oct 02, 2024 at 05:12 pm

VLX (Velas): Price Predictions and 2024 Outlook

1. Historical Performance and Market Position:

Since its inception in 2019, VLX (Velas) has generally shown an upward trend in price. In 2021, it experienced a significant surge, peaking at over $0.40 in May. However, the cryptocurrency market downturn in 2022 impacted VLX, leading to a decline in its price.

2. Velas Network Improvements and Partnerships:

Velas Network is constantly developing and upgrading its technology. In 2023, the launch of Velas 3.0 introduced several enhancements, including increased transaction speed, reduced fees, and enhanced security. Velas has also established partnerships with notable organizations such as Visa and VeriBlock.

3. Price Forecasts for 2024:

• Long Forecast: According to Gov Capital, VLX is expected to reach $0.30 by the end of 2024, representing a potential increase of approximately 33%.
• Moderate Forecast: Wallet Investor projects a more conservative growth, predicting that VLX could reach $0.10 by the end of 2024.
• Short Forecast: Digital Coin Price's short-term outlook estimates that VLX may fluctuate between $0.01 and $0.02 for most of 2024.

4. Factors Influencing VLX Price:

• Velas Network Development: Continued development and adoption of the Velas Network will positively impact VLX demand and price.
• Cryptocurrency Market Conditions: Overall market sentiment and trends will influence the price of VLX and other cryptocurrencies.
• Investor Sentiment: Positive investor outlook and increased interest in Velas could drive up VLX prices.
• Competitive Landscape: Competition from other blockchain platforms and alternative projects may affect VLX's growth potential.

5. Conclusion:

While price predictions can vary widely, the consensus among analysts suggests that VLX (Velas) has the potential for growth in 2024. The cryptocurrency market is known for its volatility, so it's important to invest cautiously and within your risk tolerance.