VeChain and Ontology Have Surged More Than 50 Percent This Week

The cryptocurrency market is rebounding following a bearish month, and while many coins haven’t seen any significant gains this week, a select few have.

Below, CryptoSlate takes a closer look at why VeChain (VET) and Ontology (ONT) have both gained over 50 percent this week.

VeChain (VET)

VeChain, the 19th largest cryptocurrency by total market cap, has had quite the week on the market. VET was listed on KuCoin, Aug. 17, and VET saw a 32 percent increase after the announcement was made via Twitter.

The same week, VET celebrated its one-year anniversary of its ICO, and on Aug. 20, the VeChain Foundation announced that its first ecosystem token, OCE, was minted on the VeChain Thor blockchain.

This documents a huge milestone for the newly launched VeChain Thor platform.

As of writing, VET is trading at $0.0137 a coin, down 5.54 percent, in 24 hours. For the week, VET is up 60.60 percent; however, for the month, the coin is down 8.6 percent.

Ontology (ONT)

Ontology, the Singapore-based public multi-chain blockchain project, has been holding multiple mainnet community events around the globe and will continue to have more in the coming months. Recently, the ONT team held an event in Seoul, South Korea, that drew a larger crowd than expected.

The project launched its mainnet, June 30, and since launch, ONT has seen high volatility.

As of writing, ONT is trading at $2.12 a coin, down 3.32 percent, in 24 hours. It is, however, up  50.35 percent for the week. Its recent spike is most likely due to its main net launch party.

Cover Photo by Jeremy Bishop on Unsplash

Posted In: , Altcoins
Invest with AMFEIX

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Chelsea Roh

Chelsea Roh is a freelance writer. Her current focus is blockchain technology and cryptocurrency. Chelsea currently lives in Winnipeg, Manitoba with her husband. In addition to content writing, she is an experienced SEO and Social Media Strategist. Before moving to Canada, she spent 10+ years marketing and working hands-on in the medical practice industry in the US.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.