VeChain Price Spikes after Binance’s surprise announcement, here’s why!

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July 27, 2018 by
VeChain Price Spikes after Binance’s surprise announcement, here’s why!

VeChain saw an unexpected walk in the price within simply a few hrs after the shock news made by the one of the largest cryptocurrency exchange Binance. The exchange revealed on their main Twitter handle as well as airdrop of 100 million VTHO tokens to all its individuals.

The airdrop will happen for all individuals who hold VETERINARIAN on the exchange by August 1st, and the tokens will be distributed on August 5th. Currently, $3 million is the overall market price of 100 million VTHO symbols.

On 26th July, VeChain was trading at a price of $1.99. The market cap of Vechain was $1.11 billion during the first hours of the day, after which the rate jumped to $1.630 billion. In less than 4 hrs, there was a boost of $500 million, inning accordance with reports.

The VeChain completed its mainnet launch formally in June. VeChain majorly aims to develop a decentralized business community with items that are completely tracked making use of a mix of hardware tools and blockchain bookkeeping. The VeChain Thor major net launch was highly important for the network.

On July 19, cryptocurrency exchange Binance announced on their website about VEN/VET Mainnet Swap. Deposits as well as withdrawals of VEN were temporarily suspended from July 22. They informed, “Please make certain that you leave sufficient time for your VEN deposits to be totally processed prior to this moment.”

Binance also pointed out that the trading will be stopped momentarily in all VEN trading pairs on July 23. Trading was returned to once more for the brand-new VET/BTC, VET/ETH, VET/BNB and also VET/USDT trading sets on July 25.

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