Tangem, the hardware wallet maker, is set to integrate the VeChain network into its platform, allowing users to store and transfer VET. The news has had a positive impact on both VeChain and VeChainThor, with their prices rising by 3.6% and 13% respectively in the last 24 hours.
The integration of VeChain into the Tangem wallet is expected to be completed by January 2024. This move will give millions of Tangem users access to VET and also allow Tangem to onboard more users. Currently, VET has over 900,000 holders, with an average of 200-250 new holders per hour. Just a few weeks ago, VET added 57,300 addresses, surpassing the previous record of 50,401 addresses in April 2021.
Users have been requesting support for the VeChain network on Tangem for some time now, and the company confirmed that VET integration was in development on July 1. However, it is still unclear if the Tangem wallet will support other VeChain-native assets or the VET network gas token VeThor (VTHO).
In other news, VeChain recently announced an update to its Node Rewards platform, introducing a marketplace for node transactions. This marketplace will be added as a tab to the VeWorld Android device, a self-custodian wallet for the VeChain ecosystem. Users will be able to view the value of their nodes on the marketplace, which features various auctions with prices ranging from $858 to $48,196.
The announcement of these initiatives has had a positive impact on VET’s price, which has seen a 3.6% increase in the last 24 hours and a 12% increase in the last seven days, trading at $0.031041. Over the past three months, VET has experienced a growth of 75.28%, adding $0.013332 to its previous price. This current price is a 10-month high, with a market cap of $2,253,265,790.
VTHO, the VET network gas token, has also seen a surge in price, rising by 13.20% in the last 24 hours to trade at $0.002447. Over the past three months, VTHO has experienced a growth of 110.35%, adding $0.001284 to its previous price. Its weekly surge stands at 35% with a bullish score of 80/100.
In conclusion, the integration of the VeChain network into the Tangem wallet and the new initiatives by the VeChain team have had a positive impact on the prices of VET and VTHO, with both assets experiencing significant growth in the past few months.