A note on the author: Tim is a Senior Online Marketing Manager with many years experience working in the field for an online agency. His professional focus has been on quantitative and qualitative market research. He has conducted and evaluated studies for clients in various fields (including digital media, social media, logistics, sports, and gambling). Tim is from Germany, with a Masters degree in Marketing & Sales, and a Bachelor in Media Management.

I always wanted to contribute something to the crypto world, so with this community survey I found a way to do so. VeChain was a perfect fit for this project because of its use cases and project structure, as well as their outstanding community.

From November 17th to the 23rd, the survey was shared via Twitter, in the official VeChain subreddit, and in various VeChain related Telegram groups. Altogether, 561 participants took part in the survey. With more than 37,000 VeChain accounts and more than 50,000 subscribers in the VeChain Subreddit, the survey would have needed at least 382 participants (95% confidence level, 5% margin of error).

First, the most important result: The VeChain community is characterized by great loyalty and confidence. These results are more meaningful because the survey was conducted during a very poor market phase. Here are some key findings from the Community Survey.

The average VeChain investor is about 34 years old. 76% of all participants had heard of VeChain before 2018, and 60% bought VEN tokens before 2018. For 30% of the people that took the survey, VeChain is the only crypto related investment. VeChain accounts for 74% of the portfolio among all participants who own other Crypto projects.

Almost 9 out of 10 people are looking to hold VeChain for a very long time. The participants rated the statement “I am confident that VeChain will achieve its goals and be successful” with a strong 7.8 out of 10 (10 = “I strongly agree”).

The same statement can be made about the X-nodes. 29% of the X-node holders won’t sell their X-node at all. 59% are considering a sale, but not before 2021.

Whoever is selling VET at the current prices is in the minority. 95% of the participants are not willing to sell in this price range. People have high expectations about the future price of the VeChain token. Same applies for the VTHO token – only 5% of the participants are selling at the moment. Other people are waiting for higher prices. Exactly one half of the participants are expecting a ROI higher than 5% by selling their VTHO in the future.

The other projects from the VeChain ecosystem were also put to the test. OceanEx was the frontrunner, followed by SafeHaven. Other projects were evaluated by the participants as follows:

A Look at the Mainnet

Finally, let’s shift our gaze to the mainnet. Since the number of transactions/clauses stands for adoption, it is currently the most important figure. This was also confirmed by the participants when asked about the most important price factor – adoption was still ahead of a bull market.

At the time of the survey, VeChain had less than 5,000 transactions/clauses per day. Only 9% of the participants would have been satisfied with this number by the end of the year.

Meanwhile, the VeChain network is experiencing strong growth. At the beginning of January (2019), there were about 31,000 clauses on a daily basis. If VeChain can maintain this daily average throughout the month, January’s total volume will come close to 1,000,000 clauses. This is not taking into account more potential growth, which is almost certain based on the past weeks.

https://twitter.com/hh_tim/status/1081885961502494721

In summary, VeChain can be very satisfied with these results. It should give both the community and the team a motivation boost, as everyone is very optimistic about the future – even though the current situation within the market is very difficult.

Depending on the development of the crypto market as a whole, as well as VeChain’s progress, the 2019 survey will be repeated in a similar form in order to analyze the results over time. The complete survey report can be downloaded here.

If you have any questions, please feel free to contact me on Twitter at @hh_tim. You can find more contact options on my website www.cryptolyze.online.