Velo price prediction: How much can VELO grow in 2024?

With Velo’s price fluctuations this year, what does the latest Velo price prediction suggest about its future path?

Velo (VELO), often referred to as the ‘XRP of Southeast Asia,’ has garnered attention for its potential in the blockchain space, particularly in facilitating cross-border payments and financial solutions across the region. 

This year, Velo’s price action has been a roller coaster. At the start of the year, VELO was trading at a mere $0.003. However, by May 10, it had surged to a 52-week high of $0.02882. 

This impressive jump represents an increase of approximately 861%. Since that peak, the price has flattened out, but in August, it began to rise gradually, step by step. As of September 6, 2024, Velo is trading at around $0.0165, having increased by more than 21% over the past week.

Despite this, it’s important to note that VELO is still trading a staggering 99.19% below its all-time high of $2.07, achieved in March 2021.

To better understand the future of Velo’s price, let’s break down what Velo does and how it’s been evolving.

What is Velo?

Velo is a crypto project that aims to make cross-border payments easier, especially in Southeast Asia. It’s often compared to Ripple (XRP) because both focus on improving the way money moves across borders. 

However, there’s a key difference: Velo supports smart contracts, which means it can automate complex financial transactions, while XRP’s ledger system, XRPL, does not.

In April 2024, Velo made a big move by teaming up with the Solana (SOL) Foundation. Solana and Velo signed a Memorandum of Understanding (MOU) to create a clearing house for transactions related to Laos’ Digital Gold. 

Laos’ Digital Gold initiative aims to enhance interoperability across Solana’s blockchain, Nova, and EVM-compatible chains through bridging mechanisms.

Solana will handle the blockchain part, and Velo will ensure all transactions are validated and secure. The aim of this partnership is to make it easier for different blockchain networks to work together and improve how assets are managed on the Solana blockchain.

Velo Labs is also focusing on web3 financial solutions, providing a network for secure value transfers and backed by big names like Stellar Network and CP Group. They work worldwide to connect traditional banking with the new world of Web3. Their product range includes Orbit, which focuses on global financial connectivity.

In February 2024, Velo Labs announced a partnership between its Orbit crypto merchant network and point-of-sale (POS) systems, allowing people to use cryptocurrencies to pay in stores by scanning QR codes, similar to how you would use a Visa or Mastercard.

Moreover, in January 2023, Velo Labs collaborated with TrueUSD (TUSD), a stablecoin provider. This partnership aims to make Velo’s own stablecoin, USDV, more stable by using TUSD as collateral.

What lies ahead for VELO? Let’s look at the Velo price prediction for 2024 and beyond.

Velo crypto price prediction: What’s next for the coin?

Predicting the future price of Velo can be challenging, but by examining data, algorithmic prediction tools can provide a rough Velo crypto price prediction.

Velo coin price prediction: short-term outlook

What are the expectations for VELO  in the near term? 

According to CoinCodex’s Velo price prediction, VELO’s price is expected to increase by 228.4%, potentially $0.0551, by October 6, 2024. 

As of September 6, 2024, the overall sentiment for the Velo price forecast remains bullish, with 29 technical analysis indicators showing bullish signals and 4 indicating bearish trends.

Velo price prediction 2024

Based on CoinCodex’s projections for VELO, it is anticipated to trade between $0.01718 and

$0.08147 this year. If it hits the upper end of this range, VELO could experience a rise of 377.64%.

DigitalCoinPrice, drawing from insights from investors and market experts, forecasts that Velo might surpass its old high of $2.07 and settle between $0.0299 and $0.0375 by the year’s end.

Wallet Investor offers a less optimistic VELO price prediction for 2024. They expect a minimum price of $0.000588, an average price of $0.00118, and a maximum price of $0.00176.

Velo price prediction 2025

Looking further ahead, DigitalCoinPrice predicts that in 2025, Velo’s price could fluctuate between $0.0366 and $0.0439, with the most likely value stabilizing around $0.0408 by year’s end.

CoinCodex’s forecast for 2025 aligns with its predictions for 2024.

Wallet Investor forecasts a minimum price of $0.000428, an average price of $ 0.000857, and a maximum price of $0.00129 by the end of 2025.

Velo price prediction 2030

CoinCodex estimates that by 2030, VELO’s price could vary between $0.043626 and $0.070736.

DigitalCoinPrice suggests that VELO’s price could climb to $0.12 or $0.13 by the end of 2030. 

Should you invest in Velo crypto?

Investing in Velo crypto requires careful consideration of its recent performance and future predictions. While it has promising partnerships and technology, the market’s volatility demands caution. Whether you’re considering investing or holding back, take your time to weigh the risks involved.