VeChain (VEN) close to $2 billion market cap after 8% hike
VeChain (VEN) gets a massive hike of 8% over the past 24 hours. This has propelled its market capitalisation to almost $2 billion, causing a massive buying frenzy over several crypto exchanges.
Cryptocurrency enthusiasts who have invested in VeChain (VEN) coin would be overjoyed with the way the coin is performing lately. On May 29th, VeChain (VEN) found itself in the middle of an unexpected downfall. Its coin value slipped down to $3.05 and the market capitalisation hit $1.6 billion.
However, it soon went up by about 12% over the next few hours. On June 2nd, the coin went a step ahead to surprise everyone by rising steadily and continuously. At the time of writing, VeChain (VEN) was priced at $3.72 and the market cap was $1.95 billion. If it continues for a few more hours, it is sure to cross the $2 billion mark very soon.
Partnership with Slowmist
For all those who are wondering what’s causing the sudden upsurge, it is due to VeChain (VEN) team collaborating with Slowmist in efforts to to secure the VeChain Thor blockchain. The project also released a new whitepaper. This caused more number of investors to invest in the coin, ultimately causing its value to rise.
The crypto community accepts the hike with open arms. A twitter user says,
“VeChain (VEN) is as always leading the pack and showing how it should be done. VeChainThor is bound for massive adoption and will, without doubt, become a top-tier blockchain! Viva VeChain ? $VET $VEN $BTC $ETH.”
Will VeChain maintain stability and continue to rise further? We’ll soon find out.
Image via Shutterstock
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