Coinbase’s Surprise Listing Ignites Surge in These Two Altcoins
Two altcoins have seen a significant surge following an unexpected listing announcement by the prominent US cryptocurrency exchange Coinbase.
In their recent announcement, Coinbase disclosed their decision to list VeChain (VET), a blockchain-based supply chain management project, along with its associated token, VeThor (VTHO), for trading.
Following Coinbase’s announcement, VET experienced a notable boost, surging from its Monday low of $0.0146 to a peak of $0.0165 on Tuesday, marking a remarkable 13% increase. As of the latest update, the coin is trading at $0.0163.
Similarly, VeThor saw a substantial rally, rising from Monday’s low of $0.000857 to a high of $0.00115 on Wednesday, reflecting an impressive 34% increase. Currently, the token is trading at $0.00107.
Trading for these two altcoins officially commenced on Coinbase on Wednesday.
VeChain’s blockchain platform plays a pivotal role in supply chain management, enabling product tracing and counterfeit prevention. It operates on a “Proof-of-Authenticity” (PoA) consensus mechanism and boasts partnerships with major companies such as Walmart China, BMW, and Sam’s Club.
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The project utilizes two tokens: VET serves as the utility token, while VTHO is used for payments and incentives.
VeChain, with a strong social media presence and a following of 584,300 on the X platform, anticipates that the Coinbase listing will foster network development. The project aims to enhance accessibility and infrastructure development, particularly for its professional partners, by providing a secure and trusted custodian for both institutional and individual users.
As this development unfolds, VeChain expresses excitement about future phases and collaboration with the Coinbase team, with a steadfast commitment to advancing mass adoption.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
