VeChain (VET) Soars by 60% After Rough Week
VeChain (VET) soared 60% as the entire markets began its recovery after a tough week.
The rollercoaster ride continues for cryptocurrencies this week with some falling back and a couple of other making solid gains, with VeChain leading the pack.
After starting the week on a rough foot, VeChain began gaining grounds and is currently having a big pump, showing gains of up to 60% in the early hours of today.
Traders have capitalized on the volatility and the token is now trading nearly +30% in the last 24 hours.
Current price and market status of VeChain (VET)
VeChain opened today with gains of more than 60%, seeing the price of the token reach $0.0129 in the early hours of today.
The VET tokens continue the strong run at the time of this writing. VET tokens are trading at $0.014109, showing gains of 29.16% against the USD.
VET is also trading at a gain of 38.17% against Bitcoin, VeChain’s massive growth over the last 24 hours make VET the 10th biggest gainer.
VeChain is currently ranked as the 18th largest cryptocurrency after moving up two steps courtesy of the growth over the last two days, the token currently hosts an estimated market capitalization of $817.20 million.
The trade volume of VeChain has also grown alongside the value of the token, over the last 5 days. On August 11, VeChain saw a trading volume of $90,42 million over the last 24 hours.
VeChain, which is now experiencing increased liquidity, has also announced that the VET tokens is getting ready to be listed on another exchange platform.
KuCoin would be opening withdrawal services for VET tokens today, August 17 at 22:00 (UTC). Increased liquidity and exposure is always a positive sign for investors.
The Lisk MainNet launch
Many have speculated that the price pump of VeChain is connected to the ongoing MainNet launch of Lisk forked from the VeChain blockchain.
Lisk recently revealed that the project’s planned block height for the MainNet release of Lisk Core 1.0, and the migration will take place when Lisk reaches a block height 6,901,027 at the end of round 68327.
Lisk has predicted that the project will reach this block height on Wednesday, August 29, no sooner than 11:00 AM CEST.
Just like VeChain, Lisk is up 16% at the moment, and trading $3.43, which is still massively down over 75% from its May high of $14.
Along with the launch of the Lisk MainNet on the Lisk blockchain, this week, VeChain got another exchange listing. This time from Coinnest, a South Korea based cryptocurrency exchange platform.
VeChain Thor attracts BMW
After a successful MainNet launch, and its transition from VEN to VET, the project has announced a strategic partnership with one of the biggest and most respected brands in the automobile industry.
The partnership will see VeChain venture into a new niche, at the same time, expose the token to markets where BMW already exist.
While announcing the partnership, CEO and head of the project, Sunny Lu announced optimistically that the collaboration would see VeChain get many other partnerships.