Tangem, a popular hardware wallet maker, has announced that it will be integrating the VeChain network into its wallet platform. This integration will allow users to store and transfer VeChain tokens (VET) through the Tangem wallet. The integration is expected to be completed by January 2024.
The news of the integration has had a positive impact on the price of VeChain and its native token, VeChainThor (VTHO). In the past 24 hours, VeChain has seen a 3.6% increase in price, while VeChainThor has surged by 13%. This surge in price is likely a result of the anticipation and excitement surrounding the upcoming integration.
The integration of VeChain into the Tangem wallet will provide an opportunity for millions of Tangem users to access and use VET. Additionally, Tangem will benefit from this integration by attracting more users to its platform. Currently, VET has over 900,000 holders, with an average of 200-250 new holders per hour. Just a few weeks ago, VET added 57,300 new addresses, surpassing the previous record of 50,401 addresses in April 2021.
Users have been requesting support for the VeChain network on the Tangem wallet for some time now. In July, Tangem confirmed that they were working on integrating VET into their platform. However, it is still unclear whether the Tangem wallet will support other VeChain-native assets or the VET network gas token, VeThor (VTHO).
In other news, VeChain recently announced an update to its Node Rewards platform, introducing a marketplace for node transactions. This marketplace will be accessible through the VeWorld wallet, an Android device wallet for the VeChain ecosystem. Users will be able to view the value of their nodes and participate in auctions on the marketplace.
The announcement of these new initiatives by the VeChain team has had a positive impact on the price of VET, which has seen a 3.6% increase in the past 24 hours and a 12% increase in the past week. VET is currently trading at $0.031041, which is a 10-month high. Over the past three months, VET has experienced a growth of 75.28%. VeThor (VTHO) has also seen a surge in price, with a 13.20% increase in the past 24 hours. Its growth over the past three months stands at 110.35%.
Overall, the integration of VeChain into the Tangem wallet and the new initiatives by the VeChain team are expected to have a positive impact on the adoption and value of VET and VTHO tokens.