The Recent Mainnet Upgrade resulted in an insane price surge in VeChain

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Zaryab Afser
A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

As it is quite well known that the crypto market is one of the most unpredictable ones with its enormous ups and downs. It can be said so because while on one hand, the crypto market may seem to be flat after last week but on other, there are some firms that are getting all green.

VeChain (VET), the logistics as well as the supply-chain network, whose recent price surge has grabbed the attention of the masses. When observed carefully, it was noticed that the bulls in the price were, in fact, a result of a mainnet upgrade which lets the users delegate their transaction fees.

Where VET came across a major drop in VeChain’s Market Cap that fell to almost $270M last Wednesday, the losses seemed to have recovered now. This can be said because it pulled back over the $300M edge by Thursday evening and came to $336M by the beginning of the week.

THE LATEST UPGRADE

VIP 191, the present overhaul is intended to make the center blockchain somewhat more neighborly to outsider engineers just as end-clients. It enables clients to send tokens without bringing about VTHO exchange charges.

Rather, the sender can assign exchange charges to the applications they’re utilizing.

Totient, an activist crypto hedge fund who proposed the VIP 191, described it as an:

“innovative feature allows anyone to use a decentralized application regardless of their knowledge of blockchain technology by removing the toughest barriers for adoption.

 

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