- Binance has listed Vechain’s VTHO token two years after listing its parent token
- VTHO is generated by holding VET tokens
- Many expected VTHO to be listed when VET listed in 2018
Binance has listed the VTHO token, two years after launching its parent token, VET. The surprise launch has been a long time coming for VTHO holders, who have spent the last two years generating VTHO tokens while holding VET in their wallets and waiting for the chance to sell the token at an exchange with high volume. The Binance listing resulted in a mega pump initially before settling down to a more reasonable price.
Binance Listing Sees 13,000% Spike
VTHO is the token that powers the VeChain blockchain, with VET holders rewarded with VTHO tokens which they can sell on exchanges. Holders hope that as demand for the VeChain blockchain increases, VTHO tokens will become more valuable and may provide a supplementary source of income in the future.
Binance listed VeChain’s VET token in July 2018 after it rebranded from VEN, and many assumed that a VTHO listing would be imminent soon after this listing. Other exchanges such as OceanEx and Gate.io did list it, but Binance held off for two years, before suddenly announcing a listing yesterday:
The resultant price action was incredibly volatile, especially for a token that already had a market price, with the value rocketing to $0.013 on listing, meaning that someone paid an incredible 13,000% over the pre-listing price, before the price settled back to a more reasonable price of $0.016, 64% up on its previous price.
VET Holders Hope For Future Payday
With what many VET holders will see as the holy grail of a Binance listing for VTHO now finally achieved, they will hope that this will present them with an opportunity to sell their VTHO tokens in greater volume after they have been earned. VeChain is famously one of the best connected projects in the crypto space, boasting deals with a range of household names including Adidas, Walmart, Deloitte, and even countries like Cyprus and San Marino, meaning that recipients of large amounts of VTHO on a regular basis could indeed have a handy income source in years to come.