VeChainThor cryptocurrency has embarked on a host of initiatives in 2018. The platform recently launched its Mainnet after its successful rebranding from VeChain to VeChainThor. According to crypto writer John Isige, prices have been within a contracting triangle since the start of this year. The VEN/USD pair has been trading lower highs and lows since January’s 9.00 USD all-time high. VeChainThor (VEN) is trading at 2.09 USD now testing the lows traded back in April. This current selloff is shown in the decreasing trade volume which has reduced by 17.7 USD since July began hence the market cap has gone from 1.4 billion USD to 1.2 billion USD.
VeChain (VET) Price Today – VET / USD
VeChainThor Mainnet Launch Has So Far Been Overshadowed By Mainnet Releases for EOS And Tron (TRX)
Since it’s June 30 launch, VeChainThor’s Mainnet has been overshadowed by Mainnet launches by Tron and EOS in the same week. Token migration from the ERC-20 standard to the VET token standard is now in the works with various exchanges committing themselves to support the token migration. VeChainThor is designed to link up the Blockchain to the real world by offering a rigid governance structure and comprehensive economic format along with an advanced IoT integration program and real world applications pioneers.
The VeChainThor network has also launched a new mobile wallet for its Blockchain and continues to work on the idea of “going mobile.” The new mobile wallet will support all decentralized applications created on the protocol and is currently available on iOS and Android. Additionally, before its release, the mobile wallet went through thorough testing by third parties to get the highest levels of functionality and security. The network took to Twitter to announce that:
Our users have been advised to make use of our new VeChainThor mobile wallet for the latest VET tokens alone. These tokens are to be sent to various exchanges if they are to be moved to the new Blockchain.