What is VeThor (VTHO) Token Whose Price Has Increased by 300%?

Bittime - VeThor Token (VTHO) has attracted the attention of many investors after experiencing a price surge of almost 300%. This article will discuss what VeThor is, how it works, and what makes it unique in the cryptocurrency world.

What is VeThor?

VeThor is part of the dual token system used by VeChain, consisting of VeChain Token (VET) and VeThor Token (VTHO). VeChain network users will earn VeThor as rewards when they hold VeChain Tokens, similar to the mechanism used by NEO and GAS. 

VeChain Token is used to deploy applications on the platform, while VeThor is used to pay for applications and other transactions on the network.

Uniqueness of VeThor

VeChain's economic model is designed to be more suitable for enterprises compared to other blockchains such as Ethereum and Bitcoin. On these platforms, increased usage can lead to increased utility token costs, which in turn increases the costs of deploying and operating applications on those protocols. With VeThor, costs remain more affordable, making it more attractive to business users.

History of VeThor

VeChain was initially launched as an ERC-20 token on the Ethereum blockchain. As its ecosystem develops and grows, VeChain is turning to an independent blockchain to increase efficiency and functionality.

VeThor's Future Plans

In the future, the VeChain foundation plans to negotiate with exchanges to carry out token exchanges so that it can become an independent network. They also plan to launch a mobile wallet and integrate with Ledger. 

Their main focus is the financial services sector, which has been announced in their official blog, as well as detailing a roadmap for future development.

Use Case of VeThor

VeThor has established partnerships with various companies, including Fanghuwang.com, a property mortgage loan provider, as well as BMW, Groupe Renault and DNV GL. This partnership shows the potential use of VeThor in a variety of industries, especially in applications related to logistics and supply chain management.

How to Buy VeThor

VTHO tokens can be traded on various centralized cryptocurrency exchanges (CEX). One of the exchanges in Indonesia for buying and trading VeThor is Bittime Exchange, where trading pairs VTHO/IDR had an active trading volume of IDR 9,395,105.69 in the last 24 hours. 

VTHO/IDR via Market Bittime

VeThor Daily Trading Volume

VeThor (VTHO) trading volume globally reached $3,132,030,855 in the last 24 hours, reflecting a significant increase in market activity. This spike shows high interest from investors.

VeThor Highest and Lowest Prices

Currently, the price of VeThor (VTHO) is trading at around $0.008527, with an increase of 285.1% in the latest period. The lowest price in the last 24 hours was $0.002199, while the highest price was $0.01027.

VeThor Market Cap

VeThor (VTHO) market cap currently stands at $712,351,934, ranking it #150 on CoinGecko. Market capitalization is calculated by multiplying the token price by the circulating supply, where there are currently 85,354,015,359 tradable VTHO tokens on the market.

VeThor Fully Diluted Valuation

VeThor (VTHO)'s fully diluted valuation (FDV) is $712,388,551. This is a statistical representation of the maximum market capitalization, assuming a total of 85,358,402,829 VTHO tokens in circulation currently.

FAQ

1. What is VeThor (VTHO) and how does it work?

VeThor (VTHO) is a token used in the VeChain ecosystem, which functions to pay for applications and transactions on the network. Users earn VTHO in return when they hold VeChain Token (VET).

2. Why has the price of VeThor (VTHO) increased significantly?

VeThor (VTHO) price has increased by 285.1% in the latest period, indicating high interest from investors and increased market activity. It is also driven by strategic partnerships and future development plans.

3. What important partnerships does VeThor (VTHO) have?

VeThor (VTHO) has established partnerships with various large companies, including BMW, Groupe Renault, and DNV GL, which shows the potential use of this token in various industries, especially in logistics and supply chain management.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

Coingecko, Coingecko VeThor, Accessed January 22, 2025

Author: IN