An enterprise-focused altcoin is surging after being listed by top US-based crypto exchange Coinbase.
The news sent VeChain flying as it soared from its seven-day low of $0.0146 on September 11th to a peak of $0.0172 just one day later, a 17.8% increase. The digital asset has since retraced and is trading for $0.0170 at time of writing, a 3% increase during the last 24 hours.
VET was founded in 2015 by Sunny Lu, a Chinese entrepreneur and former executive of Louis Vuitton China, for the purposes of managing supply chains and tracing products. It currently has partnerships with marquee businesses, such as Walmart and BMW.
VeThor (VTHO), the token associated with the protocol’s gas fees, is an automatically generated digital asset proportionally given to holders of VET that is used to power the network’s smart contracts.
VTHO is trading for 0.001287 at time of writing, a 1.62% increase during the last day. However, the virtual asset spiked after Coinbase’s announcement, going from a low of $0.000869 on September 12th to $0.001607, a staggering 85% increase.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/jamesteohart/Natalia Siiatovskaia