Vechain (VET / VEN) rose more than 17 percent this morning, even as the broad money market was fluctuating in the context of declining trading volume.
VeChain is one of the best performers of the market in August, as reported by CCN.
Vechain continued to grow this morning, up about 9.5% during the day, even if no coin in the top 20 could find a profit against the US dollar. VET is growing at a staggering 107% this week, with a cap of $ 862 million and $ 0.015562 per token, ranking 18th in the market rankings.
Most of the token volume is traded on Binance, the world's largest electronic money exchange platform, with the platform's VET / BTC and VET / USDT pairs accounting for over 88% of the VeChain transaction.
There is no reason to explain VeChain's current growth. However, it is possible that investors are acting on the advice of the material, published by investment research firm Palm Beach Group and then leaked through VeChain social media channels, promotions VET subscriber for $ 0.01 in the short term with the long-term goal of VET will be as high as $ 0.27 (The company has bought ratings on most other major electronic money, so the beginning may not be so excited about the advice above).
Trading volume slows down as the market waits for the SEC's decision on another Bitcoin ETF
In the larger market, most electronic currencies have retreated one step as total trading volume in the spot market has fallen by about 25% since last week. The trend has also been seen on the futures market, where Bitcoin delivery fell for three straight days and dropped about 69 percent from the previous week.
It seems reasonable to say that the market is holding its breath while the SEC and the SEC make a ruling on the two Bitcoin ETF proposals, which are expected to be released this week.
While many analysts have said they do not expect the appearance of a Bitcoin ETF until at least 2019. However, the market remains 'bruised' when the SEC refuses the Bitcoin ETF of the Winklevoss twins. And delaying the decision on another Bitcoin ETF - suggested by VanEck-SolidX, many observers believe everything will be better - until September.
