VeChain (VET) Shows Big Gains, Pushing NEM From 17th Place

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Tue, 08/28/2018 - 16:52
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Yuri Molchan
VET has grown over the last day, swapping positions with XEM
VeChain (VET) Shows Big Gains, Pushing NEM From 17th Place
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VeChain quotes have been going up the charts in a stable manner lately, making the coin’s cap get over the $1 bln mark. Over the last day, VET has surged by 12 percent and is trading now at $0.018 per token.

Bitcoin market on the rise

BTC rate is also spiking, during August it has increased by almost 270 Satoshi, and now VET is also is included in the top performers of the market. Starting on Aug. 14, the VET quotes have rising three times, thus bringing thoughts of the red market coming to an end. This took place after the token migration was completed on Bitfinex exchange.

VeThor project

Meanwhile, VeThor (VTHO), the reward coin of the VeChain platform, has dropped about 90 percent since the moment it began trading, now going for $0.003. A lot in the crypto community was certain that this asset would show big gains, due to being scarce and having a bigger value. However, low trading volumes and staking which is not complete, have resulted in the asset going down.

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Current VeChain position

At present, VeChain boasts a market cap of $1.03 bln. This makes VET number 17 on the CoinMarketCap scale, pushing NEM out. Now VET is part of the “billion club,” since NEM has dropped below this value.

VET is considered one of the most promising coins by many, despite the low price, and is winning the attention of new investors.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.