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Vechain gained $1.89 Billion market cap with its 5% hike!

Ranjitha Shastry



Vechain [VEN] gained $1.89 Billion market cap with its 5% hike!
Source: Pixabay

On 2nd June 2018, Vechain saw a rise in market cap by $1.89 billion at 16:14:22 UTC+05:30, which is the highest since the downfall on May 29th, which was to $1.60 billion. Approximately $67.42 million worth of VeChain was traded on exchanges in the last day.

This upward trend comes after the strategic partnership announcement and collaboration with slowmist in an effort to secure the VeChainThor Blockchain.

Ryan bedwell, a Twitter user commented on this announcement:

“Can we get it 1 day early? Simply because VeChain always under promises and over delivers?”

Following this update, the crypto project has been rebranded to VeChain Thor and has also released its updated whitepaper. This project did attract a lot of investors, and on the flip side, it faced some criticism as well for its rigorous code testing.

In an interview uploaded by Boxmining, Sunny Lu, Vechain’s CEO commented over this criticism by saying:

“any kind of software project or system project, you should put at least fifty percent of [your] budget in testing”.

Derek Chow, a Twitter user commented:

Sunny is a busy busy man! Cant wait for vechain in a bull market

Anders, a crypto enthusiast and a Twitter user commented:

VeChain is as always leading the pack and showing how it should be done. VeChainThor is bound for massive adoption and will, without doubt, become a top-tier blockchain! Viva VeChain 😉 $VET $VEN $BTC $ETH

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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.

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