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Vechain’s Mainnet launch gets support from Bithumb

Laira Rebecca



Vechain's Mainnet launch gets support from Bithumb - token drops by 19%
Source: Unsplash

As the Mainnet day is approaching, VeChain gets support from another exchange platform for its token migration. The famous Korean cryptocurrency exchange, Bithumb made the announcement a few hours ago on its official website.

The token swap on Bithumb will be executed automatically on the platform which would make it easy for all the users. According to the notice published by Bithumb, the token migration will be done by 16th July as the timeline is fixed by the VeChain Foundation.

During the migration, the existing ERC20 tokens will be swapped to VeChainThor [VET] tokens at 1:100 ratio. VeChain has got a lot of events lined up right after the Mainnet day such as VeChainThor mobile wallet, X-Node status monitoring, VeChain token integration with Ledger wallet and many more.

A blockchain developer on Twitter says:

“@vechainofficial Thanks for the update. Best project in crypto.”

A crypto investor named Lambert says:

“@vechainofficial Thanks for the update and I would like to say thanks to the team for all the hard work and dedication.”

VeChain, at press time, is trading at $2.52 with a market capitalization of $1.3 billion. There are about 547 million tokens in circulation at present. As the entire cryptocurrency market is showing high volatility, the token is also pulled towards the bearish trend.

7 days chart of VEN

7 days chart of VeChain | Source: CoinMarketCap

Bithumb made this announcement exactly after week since it was hacked for a loss of $30 million worth cryptocurrency. The theft had a created an outburst among the crypto investors over the past week. All the asset deposits and transactions were stopped for about two days before they took the relevant security measures to recover from the hack.

A Redditor commented on Bithumb’s decision on VeChain token migration:

“Do they have any tokens left to swap?”

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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.