- VeChain (VET) approaches $0.005 on Tuesday for the first time since Aug. 12.
- VeChain co-founder and CEO Sunny Lu will deliver a keynote address at The Capital, an upcoming industry conference hosted by CoinMarketCap.
- The broader cryptocurrency market consolidates slightly higher as the majors reported modest gains.
VeChain’s token value surged on Tuesday, reaching its highest level in almost three months after CoinMarketCap confirmed that the supply-chain management company will headline its upcoming industry conference in Singapore.
Although the news is two days old, market participants are finally catching wind of VeChain’s potential to gain more mainstream exposure at the inaugural conference. There’s no telling whether The Capital will be a hit or a failure, but the fact that it’s being hosted at one of Singapore’s oldest performing arts venues is a good indicator that people are interested.
VET Price Surges
The value of VET on Tuesday peaked at $0.004940, its highest in almost three months, according to CoinMarketCap. The coin has gained nearly 14% over the past 24 hours, far outpacing most other cryptocurrencies.
By comparison, the broader cryptocurrency market appreciated by just 1% on Tuesday.
VET also outperformed bitcoin (BTC), gaining 12.7% against the flagship cryptocurrency to trade at 0.00000053 BTC.
VeChain is outperforming the broader cryptocurrency market when measured against the U.S. dollar and bitcoin. | Chart: coinmarketcap.com
At current values, VeChain has a total market capitalization of $271.8 million, where it ranks 31st among active cryptocurrency projects. VET’s value has appreciated 22% this year. The token peaked north of 0.0075 in early April.
Sunny Lu to Deliver Keynote Address at CoinMarketCap Event
CoinMarketCap is hosting The Capital, its “inaugural global event,” in Singapore next week. » Read Full Article «