Bitcoin, Crypto currency, Blockchain

VeChain rises to 22% – What are the reasons?

VeChain for this week are the largest market driver and shot within 24 hours, of about 22% in the height.

Today, the company is friendly, Smart-Contract System to 1.31 billion US dollars, with each VET was this Morning at 6:00 PM to 2.58 US dollars value. For comparison: at the beginning of the week, each VET was only 1.81 to the Dollar value.

Although the price is dropped to $ 2,36, VeChain the 17. Place in terms of market capitalisation on coinlib.io taken about Binance Coin (1,32 $) and NEM (1,56 $).

But why VeChain experienced this comet price increase? In the last few years has changed the project fundamentally, The project started to be Mainnet, and replaced the old VEN-Token of the user to comply with the new VET (VeChainThor). The Conversion Rate of 1/100, with 100 VET Token for each VEN has been spent.

In markets for crypto currencies Mainnet launches are often an event in which the messages are to be sold – price reductions are often the result of extensive project updates. It is therefore not surprising that the Start of VeChain Mainnet was the only good news for the project.

The very popular Binance stock exchange announced yesterday that they will make a 100-million-VTHO-introduction. (VTHO is the Gas for the network, which works in a similar way as NEO).

The event is on 1. August take place, and the company is awarded VTHO with the 100 million division to all VET-Holder on the trading platform. That is, the more VET-users hold, the more you will get. It is likely that this is a Giveaway for the Boom of the VeChain price is responsible – the digital currency had suffered in the weeks prior to this announcement.

While Binance attracts a lot of Attention to themselves, some have very also been criticism.

The concern is that these Giveaways legitimize the many scams on Twitter, the fake Giveaways apply. New users can easily be used by swindlers fooled, pretending to be popular crypto-personalities and companies, and to Ether ask you to sign up for a fake Giveaway.

The scammers have seen how a lot of your hard earned Kryptos have lost, but the effects go beyond individual losses. These scams are blurring crypto-currencies and associating them with scammers.

If you found this article useful, then check out how to buy Bitcoins or what is a ICO/Security Token.

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