VeChain/Tether (VEN/USDT) Listed on Binance
VeChain, which recently rebranded itself to VeChainThor (VET), has gained support from Binance. Binance has announced the listing of the pair VeChain/Tether (VEN/USDT) on its platform. Binance also added that it supports VEN Mainnet Swap and has added VEN/USDT trading pair.
The announcement also lead to the hike in the trading price of VeChain. Binance will handle all the technical requirements involved for all users holding VEN and will make further announcements about the details of the swap at a later date. It further confirmed that it will also open trading for the VEN/USDT trading pair today.
Binance, a platform for trading of digital currencies, is developing rapidly since its ICO. It has the ability to handle 20 million users, as of now. It obliges 1.4 million trade arranges in a second. It invites a multi-dialect and worldwide crowd.
VeChain has a trading price of $2.81 and trading volume of $58,619,600 USD, at the time of writing. It has a market capitalization of $1,539,879,797 USD and is ranked at 17th position.
VeChain, with its cryptocurrency VET, is a blockchain platform that focuses on financial services, supply chain management, and smart contracts. VeChain also tweeted a timeline of MainNet launch as follows:
The VeChainThor Blockchain is days away from being unleashed. Please review the following timeline and be prepared to witness Blockchain X! pic.twitter.com/kxlQkcc6PI
— VeChain Foundation (@vechainofficial) June 21, 2018
Once the MainNet is officially launched, most exchanges are expected to handle the token conversion by swapping the ERC20 VEN tokens to the new VET symbol. VeChain knows it well that the token swap will take some time to complete, so they will allow VEN and VET to coexist for some time so that all holders would have enough time to get through the process of the transition. After the launch of MainNet, any VEN tokens can be transferred to a new wallet to be released by VeChain. It will effectively make the swap from VEN to VET for the owner.
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