The cryptocurrency market is rebounding following a month, and while many coins haven’t seen any significant gains this week, a select few have.
Below, CryptoSlate takes a closer look at why VeChain (VET) and Ontology (ONT) have both gained over 50 percent this week.
VeChain, the 19th largest cryptocurrency by total market cap, has had quite the week on the market. VET was listed on KuCoin, Aug. 17, and VET saw a 32 percent increase after the announcement was made via Twitter.
KuCoin opens withdrawal services of VET at 14:00 (UTC+8) on August 17, 2018. https://t.co/GSpM1ownDz
— VeChain Foundation (@vechainofficial) August 16, 2018
The same week, VET celebrated its one-year anniversary of its ICO, and on Aug. 20, the VeChain Foundation announced that its first ecosystem token, OCE, was minted on the VeChain Thor blockchain.
Another VeChainThor milestone has been reached! $OCE became the first ecosystem token minted on the VeChainThor Blockchain! You also can now view your OCE balance in the VeChainThor . The OCE whitelisting process ends on 8/25/2018 at 13:00 UTC+8.
— OceanEx Official (@OceanexOfficial) August 20, 2018
This documents a huge milestone for the newly launched VeChain Thor platform.
As of writing, VET is trading at $0.0137 a coin, down 5.54 percent, in 24 hours. For the week, VET is up 60.60 percent; however, for the month, the coin is down 8.6 percent.
Ontology, the Singapore-based public multi-chain blockchain project, has been holding multiple mainnet community events around the globe and will continue to have more in the coming months. Recently, the ONT team held an event in Seoul, South Korea, that drew a larger crowd than expected.
— Ontology News (@Ontology_news) August 18, 2018
The project launched its mainnet, June 30, and since launch, ONT has seen high volatility.
As of writing, ONT is trading at $2.12 a coin, down 3.32 percent, in 24 hours. It is, however, up 50.35 percent for the week. Its recent spike is most likely due to its main net launch party.
Cover Photo by Jeremy Bishop on Unsplash