In a May 10th tweet, the official Bitfinex handle announced that VeChain (VEN) deposits have been enabled on the popular online and mobile trading platform. Checking the platform indicates that trading is now live on both Bitfinex and its sister exchange, Ethfinex. Not many crypto traders caught on but Global Coin Report was able to spot the development.
The listing adds to the much-needed liquidity by the VeChain (VEN) project and token. The current market analysis puts VEN at a value of $4.57 at the moment of writing this. The token is up less than a percent in the last 24 hours. The token’s market capitalization is pretty high at $2.404 Billion with a circulating supply of 526 Million VEN. The token is now available on 48 exchanges according to coinmarketcap.com.
With respect to Bitfinex and Ethfinex, the latter was only launched this year as an ERC20-token-specific trading platform unlike the parent exchange, Bitfinex, that caters for also the major coins. With Ethereum, Bitcoin and the USD as the major currencies that token pair with on the Ethfinex platform, it allows for fluid trading amongst the 3 base crypto and fiat options. The beauty of being on the Bitfinex platform is that you can log into Ethfinex using the same credentials and your balances will still be visible on both. This is some good integration by the Bitfinex and Ethfinex teams.
VeChain is a leading global enterprise level public blockchain platform. It aims to bridge blockchain technology and real-world applications. VeChain also plans on providing the necessary decentralized governance structure to build a robust economic model as well as the advanced Internet of Things integration.
The project recently rebranded to VeChain Thor (VET) and has a new blockchain with a similar name: VeChainThor Blockchain. It is currently undergoing rigorous tests to ensure that it works as it was designed to do when the Main Net is launched later this year.
The timetable towards final launch involves a Public Alpha test which will involve 100 vetted testers. In June this year, the VeChain foundation will open the code base to the public signifying the start of the Public Beta Test for further hands-on testing. The MainNet will be launched by the end of June; adding to a growing list of projects launching the MainNet versions of their projects in Q2 this year.
The Next few months will be an exciting time for the Crypto-verse.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels