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Au Revoir Vitalik Buterin and Ethereum community; Goodbye note by VeChain’s Sunny Lu!

Laira Rebecca



Au Revoir Vitalik Buterin and Ethereum community - Goodbye note by Vechain's Sunny Lu!
Source: Pixabay

The much anticipated Mainnet migration of VeChain launched a few hours ago with its first block being mined at 08:00:09. The VeChainThor blockchain has been successfully commenced and the team announced the big news on various social media platforms.

Sunny Lu, the CEO, and Co-Founder of VeChain also tweeted about the migration and has mentioned his gratitude to the Ethereum community and its CEO Vitalik Buterin.

Tweet by Sunny Lu

Tweet by Sunny Lu | Source: Twitter

A VeChain Maximalist commented on Twitter:

“thank you for the hard work and perseverance, I will do the best to support the Eco system… salute!!!”

A Twitterati named Boye says:

“Awesome! For the devs out there who want to fiddle around with the #VeChainThor API: is now hooked up to mainnet!”

A Redditor named Hipsterci says:

“As much as I feel like a VeChain shill here, Sunny is such a clever dude. He’s a hero we need but don’t deserve when it comes to crypto. This is also just amazing, no anti-ETH EOS tier disrespect, just plain and simple professionalism.”

Another Blockchain Enthusiast says:

“Loved the no hype approach. VeChain mean business now…”

As announced earlier by the firm, the following activities such as Authority Masternode deployment, VeChainThor forge, the snapshot on Ethereum and X-Node monitoring will be executed today.

VeChainThor [VET] token swap has received support from popular exchanges like Binance, Bithumb, KuCoin, etc. The ERC20 token migration will be completed by mid-July as scheduled by the VeChain team at a 1:100 ratio.

A Redditor says:

“Like I said in the other post in /r/vechain, this marks the 3rd most important event in blockchain history. The space is going to change dramatically due to VeChain. Soon EOS, ADA, XLM, and NEO’s market caps will slowly drain into VeChain’s as people realize those projects are NOT worth even close to a real project like this.”

A Redditor named shorth commented:

“Is this really that much of a big deal? I’m a bit skeptical since if this were so huge I would expect VEN to be a lot higher, efficient market etc.”

Another cryptocurrency investor says:

“Vechain may or may not succeed. But the market is not exactly rational lately. Other than a few projects falling extra hard, there has been very little movement as a result of big new. All the big projects are moving pretty much in sync with each other.”


VEN's 1 day chart

VEN’s 1-day chart | Source: CoinMarketCap

The VeChain [VEN] market looks relatively bullish on the Mainnet day as the coin has gained its value by 8.34% in the past 24 hours. At 6:45 AM UTC, VEN is trading at $2.67 with a market capitalization of $1.4 billion.

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Laira is a full-time writer at AMBCrypto. She is a Computer Science graduate and she has about 1-year experience in writing. Her enthusiasm and keen interest in developing her knowledge about blockchain and cryptocurrency led her to be a part of AMBCrypto. She currently does not hold any value in cryptocurrency or its projects.


Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%




Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.

Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”

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