VeChain has proven to be one of the more intriguing blockchain projects in existence today. As such, the VeChain price is appreciating as of late, which is pretty interesting to keep an eye on. As of right now, the VeChain price is almost above $7 again, which seems to indicate this altcoin is well underway to reach a new all-time high at some point.
VeChain Price Notes Strong Gains
It is always intriguing to see how well some altcoins perform even when top currencies are not showing any sign of momentum whatsoever. For now, it seems the top altcoins are stuck in sideways momentum because the price per BTC is going up as we speak. This is not entirely uncommon, though, as the Bitcoin price going up often results in lower altcoin/BTC ratios, and thus a stable USD value in most cases.
In the case of VeChain, however, things are certainly evolving in an interesting direction as we speak. More specifically, the currency has seen a nice value appreciation over the past few hours. Thanks to a solid 16.13% increase in USD value, the VeChain price is climbing quickly and is very close to surpassing $7 again. It’s still far away from an all-time high, but things are not looking all that bad as of right now either.
It is also worth noting the VeChain price isn’t suffering from Bitcoin or Ethereum price changes. In fact, the altcoin has gained 10.75% over Bitcoin and 16.17% over Ethereum. Many people are disappointed with the Ethereum price not moving up alongside Bitcoin right now, but that situation will turn around at some point, by the look of things. The VeChain price isn’t impeded by either currency right now, which is rather nice to see in the altcoin sector.
With just over $188.1m in 24-hour trading volume, the demand for VEN is certainly visible across the exchanges. Especially with most top 10 altcoins noting volumes which are a fair bit lower, VeChain is currently on the right track in this regard. Given the speculative nature of all cryptocurrencies, it remains to be seen how this will affect the VeChain price in the long term, though. If the volume keeps up, we may see some interesting developments in the future.
Binance is still the largest exchange when it comes to VeChain trading volume. Their lead over Lbank is quite substantial, and Binance also takes the third spot across the exchange listings as we speak. Their BTC, ETH, and BNB pairs are all in the top 7, which is pretty impressive. Huobi’s three trading markets – BTC, USDT, and ETH – rank fourth to sixth with somewhat similar volumes across all pairs right now.
For now, it is difficult to predict what will happen to the VeChain price. This current momentum seems to indicate we may see a value and potentially more later today, but nothing has been set in stone just yet. Volatility still reigns supreme in the cryptocurrency world, and VeChain will not elude its grasp whatsoever. Taking profits is always better than holding a bag in the end, especially in the world of altcoins.
You may be interested
Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?Brian Evans - Jun 23, 2018
At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after Japan’s Financial Services Agency (FSA) sent notifications…
Are Centralized Exchanges Breaking the Crypto Promise?Brian Evans - Jun 23, 2018
Exchange hacks are becoming the new normal. Just two weeks after Conrail’s $37.2 million hack, it was time for Bithumb’s $31 million hack, with the difference being…
Irish Crypto Exchanges On The Receiving End As Banks Close AccountsBrian Evans - Jun 23, 2018
A study conducted by Amarach Research and Red Flag recently revealed that the number of people in Ireland who currently own cryptocurrencies is around 120,000, or about…