On June 23, VeChain (VET) price surged to a high of $0.01899, a 16-day high.
coin base tweeted on June 22 that it had added VeChain and its gas token, VeThor, to its roadmap for a new asset list. However, the platform has yet to provide details on when it will be available for trading.
VeChain Price
VeChain hit a year-to-date high of $0.03257 on February 20, but fell 40% to $0.01962 about two weeks later when a series of U.S. bank failures roiled the cryptocurrency market.
The subsequent rally reached a peak around mid-April, with the $0.0265 zone providing strong resistance.
Entering June, VeChain fell further, forming a local bottom at $0.01419 as regulatory hostility at the hands of the Securities and Exchange Commission intensified. This equates to a 95% drawdown from the all-time high. $0.281achieved in April 2021.
By June 17, its price began a reversal trend, peaking above the downtrend line depicted below and then back below the line, but the bulls’ indecision at this point. suggests.
Coinbase Changes Listing Policy
Currently, VeChain and VeThor cannot be traded on Coinbase.
Coinbase said it has stopped its previous practice of publishing the list of assets under consideration as part of its efforts to increase the transparency of its token listing. Instead, under its roadmap model, the assets the company “explicitly decided to go public” were: Roadmap page of that website.
Importantly, however, no information was provided regarding a date or expected timeline, and investors are expected to wait until a formal listing announcement is made.
Coinbase settled with the Securities and Exchange Commission over insider trading allegations in May. The regulator said the company’s former product manager, Ishan Wahi, tipped his brother Niki and friend Sameer Rami about the token’s listing before the token’s listing became public. .
The two used this information to buy tokens and sell them for profit after going public. This is said to have happened in at least 25 separate token lists. Mr Wahhi was sentenced to 24 months in prison for his involvement in the crime and his brother was sentenced to 10 months in prison.
At that time, coinbase Said “We have zero tolerance for this type of misconduct and will not hesitate to take action against our employees if we discover misconduct,” the company said in a statement.
The story of VeChain rising 11% on Coinbase’s addition to its listing roadmap first appeared on CryptoSlate.
