An enterprise-focused blockchain known as VeChain has experienced a 15% increase in value over the past 24 hours following its addition to Coinbase’s listing roadmap. Coinbase announced that it would be adding VeChain (VET) and VeThor (VTHO) to its roadmap, causing a surge in the price of VET.
At the time of writing, VET is valued at $0.0188, representing a 15% increase in value over the past day. VeThor, on the other hand, is currently valued at $0.00122, experiencing a growth of over 18% within the same period.
VeChain is a platform that utilizes blockchain technology to offer solutions for managing supply chains, tracing products, and preventing counterfeits. It operates as a public blockchain using a Proof-of-Authority consensus mechanism and was established in 2015 by Sunny Lu, a previous Chief Information Officer of Louis Vuitton China. VeChain has numerous notable partnerships, including Walmart China and BMW, further solidifying its position as an enterprise solution provider.
Within the VeChainThor blockchain, there are two distinct tokens – VET and VTHO. VET serves as the primary token that stores value and facilitates transactions on the network, while VTHO acts as a gas token that powers smart contracts on the VeChainThor blockchain.
Holders of VET automatically generate VTHO, with the amount of VTHO generated being proportional to the amount of VET held. VTHO is used to pay for transactions conducted on the VeChainThor blockchain. However, it’s important to note that VTHO is a limited resource that gets consumed when powering smart contracts, resulting in a decreasing supply over time and potentially increasing its value.
Coinbase’s listing roadmap outlines the crypto assets that are being evaluated for potential inclusion on its platform. The roadmap is regularly updated to reflect the addition and review of assets. The inclusion of VeChain and VeThor to Coinbase’s roadmap indicates growing interest and recognition of their potential within the cryptocurrency ecosystem.
Investors and enthusiasts have reacted positively to the news, as reflected in the increase in the value of VET. The addition of VeChain to Coinbase’s listing roadmap also raises the visibility and accessibility of the project, potentially attracting more users and investment.
This development comes at a time when the blockchain industry is witnessing increased adoption and utilization of enterprise-focused solutions. The ability of VeChain to offer comprehensive supply chain management and anti-counterfeit measures makes it an attractive option for businesses across various industries.
It is worth noting that, while VeChain has experienced a significant surge in value following its inclusion on Coinbase’s roadmap, it is crucial for investors to conduct their due diligence and research before making any investment decisions. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly, making it essential for investors to assess the long-term potential and viability of any project they are considering.
In conclusion, the addition of VeChain and VeThor to Coinbase’s listing roadmap has resulted in a significant increase in the value of VET. VeChain’s platform provides solutions for supply chain management and anti-counterfeit measures, making it an attractive option for enterprises. This development reflects the growing interest and recognition of VeChain within the cryptocurrency ecosystem. However, investors should exercise caution and conduct thorough research before making any investment decisions.
