- Binance has announced that they have listed the VeThor Token ($VTHO) and the users are open to trade it.
- Its new listing of VTHO has enabled the open trading of pairs like VTHO/BNB, VTHO/BUSD and VTHO/USDT.
- It has been reported that the recent listing may have affected the market value of VTHO.
— Binance (@binance) July 17, 2020
Binance announced the new listing on 2020/07/17 9:00 AM (UTC). Its new listing of VTHO has enabled the open trading of pairs like VTHO/BNB, VTHO/BUSD and VTHO/USDT. Starting from 17th, Binance traders are now fully able to trade VTHO in the platform. VeThor Token has a current market value of $0.00140413, which is down by 1.7% in the last 24 hours and a daily trading volume of $4,373,480. VTHO is ranked 156th in terms of market capitalisation with the market cap standing at $36,187,704.
VeThor Is The Secondary Token Of The VeChain Platform
VeChain is a Blockchain platform that aims at managing the supply chain and blockchain processes using the distributed ledger technology (DLT) to streamline the processes. The VeChain platform has two tokens. VeThor Token (VTHO) is the secondary Token or rather the gas token of the VeChain Blockchain platform, with the primary Token being VeChain Token (VET). VET is mainly used to transfer value across the VeChain platform while VTHO used as an energy token for the transactions that happen in the platform. The amount of VTHO required for a transaction depends on the quantity of the data that operated on VeChain platform.
Recent Listings May Have Affected The Market Value Of VOTH
The latest listing by Binance comes as great news for all the VeChain supporters because they now have the privilege to trade the Token on the world’s largest exchange. It has been reported that the recent listing may have affected the market value of VTHO.
VTHO, as mentioned earlier, has been a secondary token in the VeChain platform. Since it is a gas token, it generally has fewer transactions when compared to the primary Token. But the listing in one of the largest cryptocurrency exchanges can enhance the growth of the gas token.
Earlier this year, BitTrue had listed VTHO and allowed trading options with Ripple (XRP). VTHO listed on two big exchanges is a big achievement for the VeChain ecosystem.