The S. Korean cryptocurrency exchange Bithumb has made it known that VeChain (VEN) will soon be listed on their exchange.
If you are familiar with Bithumb, you will know that they are a very selective exchange only which rarely brings on new coins. VEN will be the exchange’s 14th cryptocurrency to be listed and just the 2nd new currency to be listed on the exchange this year.
Bithumb is highly selective in their cryptocurrency offerings due to, among other things, security for the investor. Unlike their western counterparts, Asian exchanges are more far more cautious when selecting new cryptocurrencies. A new cryptocurrency will not be listed until detailed analysis has been done by looking at the nature of the cryptocurrency itself. By going this route it creates a good amount of demand but less supply. In turn, this causes investors to purchase available cryptocurrencies at much higher rates than other exchanges.
Whether this means VeChain is certain to be listed on other S. Korean exchanges is uncertain at this time. Nevertheless, historically other exchanges in the region tend to follow when a new cryptocurrency is added.
As of 1PM EST, VeChain (VEN) has jumped nearly 18.01% to $2.69 (US) according to Coinmarketcap.com.