VeChain (VET), VeThor (VTHO) Compensate Over-Selling with Robust Gains

VeChain (VET) is recovering fast after recent lows, and is just 30% below its all-time peak. VET added more than 39% overnight to $0.014, up a net 35% in the past seven days. VeChain trading is also picking up as the smoke clears around the token swap, and volumes have grown from recent lows of $18 million in 24 hours to above $84 million.

The special reward asset for staking VET, the VeThor (VTHO) token also started to recover from recent lows, jumping by 55% overnight, to $0.003.

For VeChain, the new numerous supply of VET tokens will start to be locked in nodes for staking. This is the project’s biggest appeal, as node lockdown periods have coincided with price spikes.

https://twitter.com/SinatraCrypto/status/1030137754871582725

However, VET remains risky for being concentrated on the Binance exchange, making it vulnerable to bot trades. With the price still around the one-cent level, VET allows for speculation, and is seen as one of the coins potentially growing even more strongly in case of a market recovery.

Until September 1, interest in acquiring VET may increase, as the date markets the beginning of another monitoring period for starter nodes and the X Nodes program.

Recently, the VeChain foundation announced a special period for paying out a bonus of VTHO for some of the nodes:

https://twitter.com/vechainofficial/status/1030099943313174528

The additional promises of the project include the potential for VET to be used as a token for the global logistics sector, and the Internet of Things. The migration to a new network with various levels of node verification could make VET faster, compared to using the Ethereum network.

Additionally, VET has shown to be one of the faster-recovering coins, growing within hours, while other assets keep near their new, lowered prices. VET is low-priced enough for speculative betting and has defied market crashes in the past.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.