What. A. Week. Instead of patiently waiting for an altseason, we are experiencing imo; an allseason! Insane gains for lots of cryptocurrencies, where today a couple of my favorites had great double-digit gains: VET & VTHO. Instead of posting another VeChain chart, I thought it was good to highlight VeThor Token for this time, as a lot of VET investors tend to overlook VTHO.
For the ones who don't know, VeThor Token (VTHO) is the secondary token of the VeChainThor ecosystem and functions as the gas for transactions (Binance Research, 2020). It means that VeChain Thor (VET) is the native token for the platform, while VeThor Token (VTHO) plays an essential role in the overall functionality of the blockchain (CoinMarketCap, n.d.). VTHO is needed for every transaction on the blockchain, to run & maintain dApps, and usage of VET smart contracts (Bitvavo, n.d.). So, think of this: if you invest in VET, why not in VTHO? If VeChain's price surges, VeThor Token will go along with VeChain's gains because of the transactions. In addition, VET generates VTHO, which means if you HODL VET you will earn VTHO by staking, which can be used to pay for your transactions (VeChainInsider, 2019). Sounds great to me ;). Good thing to know is that 70% of VTHO paid in each transaction will be destroyed, while the rest is awarded to the 'Authority Masternode Operator' (a server that is connected to the network operating the VeChainThor software), who validate and process blocks for the transactions (VeChain, n.d.).
As VET is showing lots of potential, I think this token is underrated as of this moment. According to CoinMarketCap, we saw 125%+ gains for VTHO in the past 7-days. At January 18th, VTHO had a high of $0.002 followed by a 'cooling period'. But in that particular period, we could see a bullish Gartley pattern while having higher-lows at all times. For now, it is totally understandable to have some bearish momentum, as investors are securing their profits. But for the longer-term, these two are looking very bullish to me.
and to think that it has already SKYROCKETED past this point - told people back when it was 0.0008 that it was gonna moon shot now look we're damn near at 0.0070 already
silverblade2487
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@silverblade2487, I STAND CORRECTED! we ALREADY HERE!! Vtho is going INSANE!
kevingulati09
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@silverblade2487,
Do you still think it will pump again?
If so to what levels?