VeChain tanks again - is market manipulation to blame?

06 Aug, 2018
by David Robb
News
VeChain tanks again - is market manipulation to blame?

The price of VeChain's VET token has fallen rapidly again recently. Observers are pointing out that many trades are being carried out by bots, and the suspicion is that there are efforts being made to manipulate the market.

VeChain has seen lots of volatile price action recently, in the wake of its new VeChain Thor mainnet launch. 

Read more: Binance announces VTHO airdrop, VeChain price rises over 30 percent in 6 hours

The last few hours have seen a serious plunge in the VET price again. Based on trading information from Binance and other exchanges, this looks to be a result of whales using bots to dump their tokens, in order to drive the price down.

This will then enable them to buy back the tokens at a much lower price later. VTHO tokens are also an important part of the equation, and will become significantly more valuable soon when they are available on more exchanges.

Despite the price volatility, the future still looks bright for VeChain. These pump-and-dump operations are likely due to expectations of the value of VeChain tokens in future, as the project has a lot of positive fundamentals on its side.

Read more: VeChain joins partnership program with Japan's largest telecommunications company

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Read more about: VeChain (VET)

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