VeChain News Today – Headlines for March 12

  • STEEM rises in price against all odds
  • Algorand and VeChain fall in value
  • The overall market cap dropped to $221 billion

VeChain News Today – it has been a terrible period for the digital asset market. From the recession fears to the corona virus outbreak and drop in oil prices, things haven’t been looking good for the global economy. In the crypto scene, even though Bitcoin sustained severe losses in recent days, its dominance in the digital currency market didn’t decline. Instead it still holds a 64.4% difference from the rest of the digital asset market.

After hinting at a bull revival, a bulk of altcoins dropped. They posted huge losses especially in the last 24-hours. However, one asset that impressed despite the controversy surrounding its platform is STEEM. Let’s see how STEEM, Algorand and VeChain Performed in the last 24-hours.

STEEM Posted 26.82% Gains Since Last Week

STEEM has recently been engulfed in controversy due to the actions of Justin Sun Tron Founder. Sun’s takeover of the content creation site has forced a centralization debate once more. Unfazed by the controversy the price of STEEM has continued to rally. It posted 26.82% gains in the last week. Despite intense market corrections, the crypto surged by 3.56% over the last 24-hours. Despite the recent correction, the coin is valued at $0.216, currently. STEEM held a total market capitalization of $78.46 million and a $4.007 million trading volume.

Algorand and VeChain Suffered Setbacks

The VeChain coin has reportedly suffered some major setbacks in price after it managed to register a year high during the second week of February, 2020. The coin was reportedly down by 30.98% in the last week. As of press time, the price of VET was changing hands at $0.0045 after it endured a drop of 5.91% in the last 24-hours. In addition to that incident, the VET token also held a total market capitalization of $249.6 million.

VET also has a 24-hour trade volume of $90.27 million. One of the biggest crypto exchanges, Bitrue recently announced that it will be offering its users 10.2% interest in the next 30 days. VeChain price dropped at a time when the collective market cap dropped to $221 billion.

Algorand was recently in the news after the Blockchain network was chosen to facilitate the Marshall Islands’ sovereign electronic currency initiative. The ALGO coin depreciated significantly despite this news after the market correction. The token has so far failed to recover. The price of ALGO sustained a 37.79% loss last week. The coin’s market capitalization stands at $174.5 million in the last 24-hours. The coin also registered a 24-hour trade volume of $77.93 million. ALGO was down by 7.03% in the last 24-hours as its value stood at $0.267 at press time.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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