VeChain Cryptocurrency News

Vechain Updates Community On Various Nodes and Expected Rewards

The Vechain team has announced that with the mainnet up and running, it will be updating the community monthly on the distribution of the circulating supply of the coin. According to a release by the team, almost all VEN have been swapped to VET so the team can conveniently analyze how current circulation is distributed between wallets.



The release stated that if a holder places certain amount of Vechain inside a wallet for a certain period of time, it can become a node. The main benefit of becoming a node is additional VTHO reward unlike a wallet that doesn’t become a node.



The report said that over 60 percent of the total circulating supply of 56.6 billion has been soft locked. This is according to data provided by VeForge Explore.



The post stated that the data available from the Explore could be used to calculate the reward which it said will vary with the fluctuation in the number of nodes.



The release said nodes will do well to upgrade since VeThor reward is low compared to other X nodes.

Vechain Sees Modest Gain As Market Tries to Recover

Vechain is up 0.31 percent while trade goes on at $0.013 on exchanges such as Binance which controls the greater percentage of the volume traded. In the past 24 hours, the coin had $19 million trade volume with the VET/USDT pair dominating the Vechain trade with 51 percent.



VET/BTC pair traded 29.5 percent while VET/ETH had just 5.3 percent of the market.



The coin market has seen a mild pull back although there is little indication that the bears have weakened considerably. In the next few days we may notice a definite trend. Nevertheless, Vechain moving into the green zone is a short term indication that traders are taking more cautious position in anticipation of a swing.

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