Bullish News for VeChain: Binance Adds More Trading Pairs and Largest US Exchange to List VET

•  Coinbase adds two new digital assets, they are VeChain and VeThor. 
•  VET is currently trading at $0.02056 with a 24-hour increase of 0.29%.

Recently, Coinbase announced on its official Twitter account, revealing the addition of two new digital assets, specifically VeChain and VeThor. VeChain consists of two primary tokens: VET Coin, utilized for executing smart contract transactions, and VeThor, which serves as a gas token during VeChain settlements. The listing of VeChain on Coinbase is expected to provide significant momentum for the VET token.

Assets added to the roadmap today: VeChain (VET) and VeThor (VTHO)https://t.co/rRB9d3hSr2

— Coinbase Assets 🛡️ (@CoinbaseAssets) June 22, 2023

As of the present moment, the precise listing date remains unknown. However, considering Coinbase’s previous announcements, it is reasonable to anticipate that the listing of VET and VTHO on Coinbase will likely occur within weeks or months.

Binance.us Expands Trading Options With VET – USD pair

In a recent announcement, Binance.us made changes to its trading offerings by discontinuing USD trading pairs for many currencies. As of June 23rd, only 10 of the 150+ cryptocurrencies are directly tradable against USD on the platform.

This is good news to the Vechain community as the inclusion of VET in the list of 10 selected cryptocurrencies offering both USD and USDT trading is highly favorable. Additionally, this will enable investors to purchase VET directly using their USD, eliminating the need to convert their USD into another cryptocurrency beforehand.

As of the time of writing, VET is currently trading at $0.02056 with a 24-hour increase of 0.29%. Additionally, it has a market cap of $1.49 B and a volume of $37.88 M.

VeChain’s Role in Combating Counterfeits

According to VeChain’s official website, its mission is to redefine value, create interconnected ecosystems, promote collective action, foster trust, and transform businesses to achieve sustainability. VeChain’s blockchain network primarily focuses on catering to the enterprise sector.

VeChain delivers supply chain and logistics solutions by offering transparent and actionable information through its proof-of-authority framework. Its primary objective is to enhance product traceability and sustainability, eliminating counterfeit goods as a key priority. It is worth noting, VeChain played a crucial role in the confiscation of counterfeit products valued at €33 million (approximately $36.2 million) in Europe.

This accomplishment was achieved through a collaborative effort known as Operation Pirates 1, which involved the cooperation of the European Union Intellectual Property Office, fifteen European nations, and various agencies. VeChain took a prominent position in combating the illicit trade of counterfeit goods, particularly in electronic devices.

Additionally, VeChain has established strategic alliances with prominent companies like Renault and PricewaterhouseCoopers to enhance efficiency in the supply chain industry. By leveraging blockchain technology and QR code scanning, VeChain enables comprehensive traceability, displaying product information from the manufacturing stage to the final sale point.

Moreover, major corporations have been implementing VeChain for various purposes. BMW, for instance, leverages the platform to combat odometer fraud, while Walmart utilizes the blockchain for tracking food provenance.

Furthermore, VeChain continues to drive innovation on its network, forging collaborations with industry-leading dApp analytics firm DappRadar. This partnership aims to improve cross-chain visibility in decentralized applications, fostering greater transparency and efficiency. Additionally, VeChain has recently introduced VeWorld, a self-custody, and fully decentralized digital wallet, as highlighted in a report by Crypto News Flash. This new development aims to provide users with an enhanced and seamless experience.

Consequently, the decision made by Coinbase and Binance to include VeChain in their lists of supported crypto assets is rooted in VeChain’s core mission of establishing reliable and decentralized business ecosystems.

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