VTHO Worth Prediction for Jan 23: What’s Behind the 280% Surge?

• VTHO token shot up 199% on Monday and is up 280% prior to now 24 hours.
• The cryptocurrency reached a peak of $0.012, a price ticket not seen since 2021.
• South Korean change Upbit introduced the itemizing of VTHO on Monday, inflicting the worth surge.

VeThor (VTHO) has outperformed almost all cryptocurrencies available in the market, surging 199% on Tuesday and including one other 22.9% on Wednesday. In 24 hours, the token has jumped 287.81% in all, reaching its highest value in 4 years.

On the time of writing, VTHO is buying and selling at $0.00833, with a market capitalization of $711 million and a 24-hour buying and selling quantity of $2.91 billion. This represents a 78,121% enhance in buying and selling quantity, putting VTHO within the highlight because it goals for a prime 100 rank and a $1 billion market cap.

Upbit Itemizing Drives VTHO Momentum

A significant driver of VTHO’s value surge is its itemizing on Upbit, South Korea’s main crypto change. Upbit reported a 24-hour spot buying and selling quantity of $6.35 billion, rating fifth globally on CoinMarketCap. Notably, $1.9 billion of VTHO’s buying and selling quantity originated from Upbit, highlighting the change’s vital impression on the token’s progress.

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The VeThor (VTHO) token is part of VeChain’s twin token construction with the opposite cryptocurrency being VET. The transactions on the VeChainThor are settled utilizing the VTHO token whereas VET is the primary token of the VeChain ecosystem which has additionally shot up by greater than 15% prior to now day. 

VTHO Worth Evaluation

The day by day chart from TradingView reveals a bullish divergence for VTHO, supported by a robust MACD indicator. The MACD line (blue) continues to maneuver upward, diverging from the sign line (pink). Nevertheless, analysts warn of a possible correction after the token’s sharp rally.

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The Relative Energy Index (RSI) stands at 86.50, indicating that VTHO is at present overbought. A slight decline in shopping for strain suggests the potential for a cool-off interval within the close to time period.