Apart from the outstanding features of the VeChain network, the VTHO token popularity is expected to increase with the expansion of the use cases, which was happening during the last 3 months. Read our VTHO Price Prediction to see if you should consider this asset as a profitable investment.
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VeThor Token Fundamental Analysis
VeThor (VTHO) token is one of the two assets of the VeChain Thor public blockchain. The network was initially launched in 2015 and underwent a total rebranding in 2018. Unlike the VeChain token, which is a native asset of the network, VeThor is the token powering the network and the transactions on it.
VeChain Thor platform was originally created as a subsidiary for a Chinese blockchain industry — Bitse, but was later separated to develop as an independent project. It boasts increased processing speeds and an open-source design, so the developers can work on the projects together. The blockchain also offers users multi-party payments and multi-task transactions, so different types of enterprises can benefit from the network. The main goal of the network is to provide a secure and transparent supply chain for enterprises.
VTHO is a token of VIP-180 standard and its price represents the cost of using the VeChain Network. It enables processes and transactions on the blockchain and is directly related to the smart-contracts layer on the Network. To perform any transaction a Vethor token should be created for every VeChain coin introduced to the asset.
Being a VIP-180 token makes Vethor really unique. The bi-token design of VeChain allows users to participate with any of them and makes the users’ involvement more differentiated. The dual token design also makes the execution of smart contracts easier as it only depends on VTHO tokens and doesn’t affect the market value of VET.
VeChain Network was founded by Sunny Lu, prior IT Manager of Bacardi China.
VeThor Token Live Price Chart
From the beginning of the year, the token was following a positive uptrend even when the general crypto market was experiencing a pull-off. Just as most of the main assets on this market, VTHO was up during the spring, with its price reaching $0.024. on April 17. After that, as Bitcoin started to lose positions, VTHO also went down and was declining till the end of July.
The price stabilized in the first weeks of August and then skyrocketed from $0.007 to $0.15. That was the highest position of the token price at the period and the coin then went to a long period of a price correction that lasted till the end of September.
After the price dropped to $0.008, it grew again and stayed stable, bouncing between $0.009 and $0.01 till the end of November. The next crisis of the crypto market affected the token too, making its price go down again.
The last week for the VeThor token was not that successful and it lost 16% of its value. At the same time, the VTHO live price chart shows that the asset is trying to get out of the declining triangle. It is expected in the near future that the token will increase its value, so the analysts advise to hold or buy the asset.