VeThor (VTHO) price surged a massive 108% claiming a daily high of $0.01071, levels not seen in over four years.
VTHO's trading volume skyrocketed by more than 7,700% while its market cap rose to $429 million.
VTHO was listed on leading crypto exchange in South Korea, Upbit, on Tuesday, attracting investors from the region.
VeThor VTHO$0.0039324h volatility:0.5%Market cap:$338.53 MVol. 24h:$28.05 M
has skyrocketed a massive 108% in the past 24 hours, outperforming its competitors, and is shining bright amid a stagnant crypto market. This unexpected surge in the price of the cryptocurrency resulted in VTHO claiming a substantial market capitalization of $429.55 million, and the digital asset now aims to enter the top 100.
Interestingly, VTHO is expected to skyrocket almost 350% from the current levels. Prominent analyst “Javon Marks” has predicted VTHO at $0.022693 later this year. In a post on social media platform X (formerly Twitter) in early January, Marks highlighted the possibility of VTHO skyrocketing 349.01% from current levels. It is possible that VeThor becomes the next multibagger during this cycle, following the footsteps of XRP$2.4524h volatility:1.6%Market cap:$141.64 BVol. 24h:$4.80 B
and SOL$194.324h volatility:1.1%Market cap:$94.81 BVol. 24h:$4.80 B
.
According to CoinMarketCap data, the trading volume of VTHO soared 7786.74% and stands at $333.3 million, and it is currently ranked 163rd. The sudden interest in the cryptocurrency came right after South Korean digital asset trading platform Upbit announced the listing of VTHO token on Tuesday.
Interestingly, the daily high for VTHO stands at $0.01071, a price level that hasn’t been witnessed by crypto investors in the past four years. The altcoin is now trading at a discount of 88.24% from its all-time high of $0.04201 witnessed around six years ago. Additionally, the altcoin has printed decent gains this cycle as well, surging 116.52% in the past year. In the last seven days, VTHO rose 95.93%.
It is important to note that the nearest resistance for VTHO stands between the $0.004 and $0.005 price levels. Investors can expect a retest of this region considering the surge in the digital asset’s popularity in the past day.
Photo: TradingView
The VTHO Relative Strength Index (RSI) reads a value of 74.73, which means that the altcoin is now overbought. A slight correction to the nearest support of $0.0022 could be possible if traders decide to take profit.
A Deeper Dive into VeThor Ecosystem
VTHO is a cryptocurrency that holds significant importance in the VeChain ecosystem. Following the rebranding of VeChain in 2018, the VeChainThor blockchain and VTHOR tokens were born. While VET remains the primary token of the blockchain, VTHO is specifically used to pay for transaction fees and smart contract execution on the network.
VTHO is generated by the amount of VET$0.034424h volatility:3.8%Market cap:$2.79 BVol. 24h:$61.44 M
tokens held by the users. The rate of generation is heavily dependent on this amount. This dual system approach was born to maintain the stability of transaction costs, keeping them away from the crypto market’s volatility.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.