Vechain (VET) is one of the best crypto performers in the day. While the rest of the market is down, Vechain (VET) is up by more than 10%. This is mainly linked to the upcoming Binance airdrop of 100 million VTHO to all VET holders. Binance has also announced that it will be supporting the distribution of VTHO on a monthly basis for VET holders. Being one of the largest exchanges in the world, this news from Binance has excited the market, and driven investments into Vechain (VET), thereby pushing up the price. Besides, VTHO works in the same way as Ethereum gas, whereby holders of Ethereum (ETH) earn gas on a regular basis. Therefore, the fact that you can get it VTHO on Binance without having to transfer it to a wallet is a huge incentive for traders.
However, that’s not the only positive news coming Vechain’s way at the moment. Vechain (VET) has also won the public breakthrough race, on the Lbank decentralized exchange. Through this win, investors will trade in Vechain (VET) without any fees for the next few weeks. Feeless trading is guaranteed to draw in investors into Vechain (VET) for a number of reasons.
First, there is a strong demand for Vechain from investors looking to earn VTHO. These are investors looking for a passive income from Vechain (VET). These are the kind of investors that also look into cryptos like Ethereum (ETH) and NEO (NEO) for that same reason, to earn gas.
Feeless trading is also likely to attract long-term HODLERs looking to take advantage of the low cost entry presented by Lbank, to place long-term positions in Vechain (VET). Vechain has the right fundamentals to attract long-term investors, even when the fees are there, so this is a huge incentive. One of its key strengths to Vechain is its potential to improve the global supply chain for multiple industries. Vechain does this by this by allowing for the tracking of goods from the source to their destinations through the blockchain.
This is huge, in that it has the potential to end counterfeits in the market. That’s because most companies, especially those the fashion industry, lose billions of money through counterfeits. As Vechain slowly gets adopted in this industry, its future value will grow by a huge margin.
Vechain also has a massive use case in the healthcare industry, by providing real-time patient data in a manner that it can’t be tampered with. As such, a medical practitioner can gain access to patient data, and be sure that it is authentic and credible. Vechain offers similar services across almost every other industry, making it one of the highest potential blockchains in the market. These use-cases that give it a long-term potential to grow, will play a role in attracting investors to trade without fees on Lbank.
As such, for the next couple of weeks, Vechain (VEN) might continue to perform well, relative to the rest of the market. It has a host of positive factors supporting it.