VeChain's VEN Sudden Plumment
VeChain's VEN token has seen a large decline in price, and is currently
seeing its lowest low in about seven months.
This sudden drop in value follows the release of its indepent blockchain,
Thor, Just over a week ago.
The entire market has seen declining prices, but VeChain in particular
saw an 11% loss in just 24 hours, and its ratio against ETH shows it is
experiencing a particularly hard hit.
Speculation points to LBank, the exchange which backs up the majority of
VeChain trades having gone down somewhat mysteriously as the origin of
the sudden and violent downtrend. LBank is apparently experiencing API
issues and is being excluded by CoinMarketCap, according to NullTX.
Any outages spook investors, and traders have been apparently rushing to
sell off the token.
It is not if there is any sing of a reversal but some speculate that
this is in fact a good time to buy, give VeChain's recent technological
improvements. Commentatore are excited about Thor's mainnet and the
VeChain platform, and if indeed the price plummet isn't for any
particular reason, VEN should bounce back in a large way.
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After such downward movement, there is always room for massive spike in price. Let's hope the same applies to VEN
I agree but nobody knows future.
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