VeChain (VET) Surges by 7% After Coinbase Listing

VET, the native crypto asset of the VeChain blockchain, saw a jump from a low of $0.0146 on Sept. 12 to a high of $0.0166. The rise was sustained until press time, with VET up 8.23% in the last 24 hours to $0.0164.

The bullish trigger came after top crypto exchange Coinbase stated it was listing the VET and VTHO tokens.

In a tweet, Coinbase stated it would add support for VeChain (VET) and VeThor (VTHO) on the VeChain network. The trading of both tokens is expected to begin today.

If liquidity conditions are met, Coinbase said trading of VET and VTHO tokens will begin on or after 9:30 a.m. PT on Sept. 13, 2023. Trading of the VET/USD and VTHO/USD trading pairs will begin in phases once sufficient supply is established.

Coinbase has said that support for VET and VTHO may be limited in some supported jurisdictions, and that no network payouts of VTHO to users holding VET on the platform will be supported. Users who want to receive these network dividends should keep their VET in a wallet that accepts VTHO payouts.

VeChain says more to come

The VeChain network reacted excitedly to the bullish news that VET and VTHO will soon be available on Coinbase, the world’s only publicly traded crypto exchange with 100 million users worldwide.

It expresses hopes that this listing will make accessing and creating infrastructure on VeChain much easier for professional partners, while also increasing its exposure to both institutions and individuals.

According to VeChain, there is more to come from this unfolding event, as it plans to kick off subsequent phases alongside the Coinbase team.