VeChain Price Explosion: Coinbase Adds VET and VTHO, Prices Surge 11% – The Sky is the Limit

  • Coinbase announces support for VeChain (VET) and VeThor (VTHO) on the VeChain network.
  • Trading will begin on 13 Sept 2023, if liquidity requirements are met.

In a ripple of excitement across the cryptocurrency community, Collin Brown (@CollinBrownXRP) was among the first to highlight the news, tweeting:

Subsequently, Coinbase, one of the leading cryptocurrency exchange platforms, officially confirmed the buzz with their announcement. The tweet from Coinbase Assets, @CoinbaseAssets read:

This news led to a significant surge in VeChain’s price by 11%.

Trading Details and Restrictions

Coinbase disclosed that trading would commence on or after 9:30 AM PT on the 13th of September 2023, contingent on the liquidity conditions being met. Once a sufficient supply of these assets is confirmed, trading will be initiated in phases, with VET-USD and VTHO-USD trading pairs.

However, it’s crucial for users to be aware that support for VET and VTHO might be restricted in some supported regions, depending on jurisdictional regulations.

Network Payouts and VTHO Accumulation

While Coinbase is opening its doors for VET and VTHO trading, they made it clear they would not support any network payouts of VTHO to users holding VET on their platform. This means that users aiming to receive these network payouts should transfer their VET to a wallet that supports VTHO payouts.

The VeChain network’s two primary tokens are VET and VTHO. While VET is the main token, VTHO serves as the gassing token, which fuels both VET and VTHO transactions. Those interested in securing VTHO network payouts should move their VET into a compatible self-custodial wallet. Following this, VTHO will accumulate automatically, with no additional actions needed. Users should also recognize that any VTHO network payouts earned from VET held in a Coinbase account will be directed to Coinbase’s digital asset wallets and will not be credited to the user’s personal Coinbase account.

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About Author

Collin is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Collin endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Collin's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Collin's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Collin continues to be a driving force in the cryptocurrency community.

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