|
Getting your Trinity Audio player ready...
|
Crypto exchange Bybit has officially listed VeThor Token (VTHO), sweetening the deal with a massive 110,000,000 VTHO prize pool. The listing, which was spotlighted by analyst CryptoBusy on X, comes with a structured launch timeline: deposits opened on April 16 at 10 AM UTC, trading began on April 17, and withdrawals are scheduled for April 18.
According to Bybit’s official announcement, VTHO will operate on the VeChain network and benefit from Grid Bot support, enhancing automated trading strategies. The campaign targets new users registering between April 17 and May 1. Eligible participants depositing at least 50,000 VTHO can earn a share of the prize pool, with the first 500 users receiving 20,000 VTHO each.
Despite the exchange’s promotional efforts, VTHO has struggled to maintain price momentum. At press time, the token is down 10% in the last 24 hours, trading at $0.002. Market data shows a stark 96% drop in ROI from its all-time high of $0.04.
In contrast, VeChain’s primary token, VET, posted modest gains following the Bybit announcement—up 2% daily and 5% over the week. Analysts suggest VET could reach $2.5 in the long term, up from its current price of $0.022.
Earlier, VTHO saw a brief rally after securing a listing on South Korea’s top exchange, Upbit. The token’s market cap soared from $191.7 million to $800 million—a 300% spike. However, the momentum has cooled, with the current market cap hovering just above $200 million.
VTHO plays a critical role in the VeChain ecosystem, acting as gas for transactions and smart contracts. The upcoming VeChain Renaissance upgrade is expected to cut VTHO inflation by 72.2%, potentially boosting long-term value. With generation tied to staked VET, the upgrade could position VTHO for a rebound as VeChainThor adoption rises.
As the market digests the Bybit listing, all eyes are on whether these strategic moves can reignite investor confidence in VTHO.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Bybit Shuts Down Key Web3 Services to Refocus on Core Crypto Offerings After $1.4B Hack
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
