When you are invested in a crypto protocol you have to be aware of the important numbers that will send you a signal showing growth. VeChain (VET) is something I have been monitoring for a solid 18 months and there are definitely signs of movement. The 384 K VTHO burned yesterday which paid for the 1.148 million transactions is above average and is on the right path.
The important number for VET is the number of transactions mainly due to the VTHO that is burned in the process. VTHO is the gas token which is used to pay for actions on the VeChain (blockchain). The daily supply of VTHO is 36 million so a burn of 384K is reflecting a 1.1% of daily supply, but it is a start heading in the right direction.
I don't believe we need to see 100 million transactions daily to burn the 36 million supply and do think it will be far less. I can see the transaction cost price increasing over the next few years as the numbers rise. The adoption has not happened yet, but the numbers tell us it is slowly happening and slowly still means it is increasing.
Another clear indicator is by following the number of new wallets that are being created. In August there were 14 709, September 20 447, October 43 949 and November already 8731 and we have only had 1 week thus far. This is the growth we don't see and it is not that small considering that is nearly 80K new wallets created just from the last 3 months.
The one question you have to ask is how many of these wallets are investors or businesses looking to get set up so they can use the blockchain. I would guess that the bulk of these are mainly businesses setting up so they have things in place due to the regulatory requirements of monitoring carbon emissions. This is a trend that is going to continue and increase as we move closer to the date in 2026 that it will be law and a regulatory requirement in the EU.
Considering that is still a few years off and testing how the system works will be on the go in full swing by 2025 that is less than 2 years and more like 12 - 18 months. The tend tells us these numbers are only going to slowly increase and the impact once they go live on the blockchain will be the wake up call letting everyone know VET is being adopted as a real use case.
The 100 x growth required to burn the daily VTHO will happen gradually over the next 18 months and will have a major impact on the VET price. I am that certain of this investment and only from understanding because of what is going on. The current price of VET is around $0.02 c each and will not be around these levels next year even if the market remained stagnant moving sideways. This is one investment that fortunately there is time to still accumulate slowly and one I am slowly adding to each month. I do expect big things from this, but like all investment do your own research and find out as much as you possibly can before you invest.
