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 abrupt hike in the cost within simply a few hrs after the shock statement made by the among the biggest cryptocurrency exchange Binance. The exchange introduced on their main Twitter deal with and airdrop of 100 million VTHO symbols to all its individuals.

The airdrop will happen for all individuals who hold VET on the exchange by August 1st, and the symbols will certainly be dispersed on August 5th. Today, $3 million is the total market value of 100 million VTHO tokens.

On 26th July, VeChain was trading at a cost of $1.99. The market cap of Vechain was $1.11 billion during the preliminary hours of the day, after which the price leapt to $1.630 billion. In less than 4 hrs, there was a boost of $500 million, according to reports.

The VeChain finished its mainnet launch officially in June. VeChain majorly intends to build a decentralized organisation ecosystem with items that are fully tracked using a mix of equipment devices and blockchain accounting. The VeChain Thor major net launch was highly important for the network.

On July 19, cryptocurrency exchange Binance revealed on their internet site regarding VEN/VET Mainnet Swap. Deposits and also withdrawals of VEN were briefly put on hold from July 22. They notified, “Please ensure that you leave enough time for your VEN deposits to be completely refined prior to this time.”

Binance also discussed that the trading will be stopped briefly in all VEN trading sets on July 23. Trading was resumed once more for the brand-new VET/BTC, VET/ETH, VET/BNB as well as VET/USDT trading sets on July 25.

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