Coinbase exchange intends to add VeChain’s native tokens, VET and VTHO, to its platform, despite the recent regulatory actions taken by the US Securities and Exchange Commission (SEC).
Coinbase, a major cryptocurrency exchange, has recently highlighted the notable progress made by VeChain. In a recent announcement, Coinbase revealed its plan to include VeChain’s native tokens on its platform.
VeChain is a specialized blockchain platform that focuses on managing supply chains and enterprise business processes. Within the network, there are two tokens: VET Coin (VET) and VeThor (VTHO). VET is used for settling transactions on smart contracts, while VTHO serves as the token for covering gas fees associated with network transactions.
Coinbase’s interest in VeChain showcases the increasing significance of supply chain management across industries. By leveraging blockchain technology, businesses can effectively trace the origins and journey of their products, fostering transparency and bolstering consumer confidence.
Assets added to the roadmap today: VeChain (VET) and VeThor (VTHO)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) June 22, 2023
While the newly added tokens are not yet available for trading on the platform, Coinbase has stated that they meet the exchange’s listing requirements in terms of legal compliance and technical security.
VET’s significance in the future of blockchain markets stems from its role in enabling transactions and supporting smart contracts. VET holders enjoy various services and features, including the opportunity to earn rewards through staking and running nodes on the VeChain network. This active involvement allows VET users to participate in the platform’s governance and decision-making processes.
Coinbase Revamps Listing Policy for New Assets:
Coinbase defies regulatory scrutiny, expands platform with new assets, and updates listing policy to prioritize transparency in the crypto community.
Coinbase has introduced an “experimental” label for newly listed assets and created a dedicated blog post to keep the community informed about such listings. However, the Securities and Exchange Commission (SEC) has requested more time to respond to Coinbase’s request for clarity on cryptocurrencies. Additionally, Coinbase is facing a lawsuit for allegedly operating as an unregistered broker.
VET and VTHO Tokens Experience Impact from Coinbase Listing:
Coinbase’s acknowledgment of VeChain’s potential is significant as it has the potential to draw in more investors to the platform, leading to increased adoption and growth. Following Coinbase’s announcement, both tokens within the VeChain ecosystem experienced notable gains.
At the time of writing, VET is trading at $0.0182, representing a 10% increase over the past 24 hours. Moreover, it has seen a 25% surge over the past week, maintaining a four-day winning streak that peaked at $0.0189 on June 20.
In response to the listing announcement, VTHO experienced a notable increase of over 15% and is currently trading at $0.00119 USD. The token’s 24-hour trading volume stands at $4,764,923.
As blockchain technology gains wider adoption across industries, VeChain’s value proposition becomes increasingly clear. With its secure and transparent supply chain management system and seamless transaction capabilities, VeChain has the potential to revolutionize operations for businesses in various sectors.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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