Key Points

• Upbit will launch VTHO/KRW and VTHO/USDT pairs later.
• VTHO’s price surged by over 300%, following the exchange’s announcement.

Upbit, the largest crypto exchange in South Korea, announced that it will list VeThor Token (VTHO) later today, supporting the USDT and KRW markets. The coin’s price surged significantly following the exchange’s announcement.

Upbit Listing Details for VTHO

In the official announcement, Upbit noted that it will list VTHO/USDT and VTHO/KRW trading pairs as follows:

• VTHO trading on the KRW market starts at 8 PM, South Korean time.
• VTHO trading on the USDT market starts at 9 PM, South Korean time.

VTHO’s price surged significantly following the listing announcement from the exchange.

VTHO Price Spiked

VTHO‘s price spiked following the Upbit listing announcement. VTHO’s market cap surged from $191.7 million to current levels of almost $800 million, a surge of over 300%.

During the past week, the coin’s market cap was between $2.8 million and above $6 million, having a mostly linear trajectory between these levels, followed by today’s significant price spike after Upbit announced its listing for later.

In the past week, VTHO is up by over 274%.

What is VeThor Token (VTHO)?

VeThor Token is one of the two tokens employed by the VeChainThor public blockchain. VeChain was launched back in 2015, but it reportedly went through a heavy rebranding process in 2018.

While VeChain (VET) is the platform’s native token, VeThor Token (VTHO) plays a crucial role in the overall functionality of the blockchain.

The VeThor Token is a VIP-180 Standard token, which represents the cost of using the VeChainThor blockchain.

This bi-token design of the blockchain allows traders to participate with both tokens in the project, diversifying their involvement.

The main purpose of the coin is to facilitate processes and transactions on the blockchain. It represents the smart contract layer of the network.