In less than a day, the cutoff period ends for the chance to build a VeChain starter node with 6,000 coins. After the latest price drop across the markets the VEN (rebranded to VET) token fell to $3.11, later rising to $3.66. Still, even running the new, lighter X node would be a steep investment.
VEN starter nodes can be upgraded later, but this is one of the last chances to get on the ladder with less coins. Later, there will always be the opportunity to build a node starting at 10,000 VEN.
The attractiveness of nodes is that staking the coins would produce another type of digital asset, of a still unknown value, the VeThor token. The other advantage of owning an X node would be the maturity period, or the need to hold and stake the tokens for a pre-set period of time. Owners of the new lighter nodes would have enough time for their coins to mature.
Additionally, the VeChain project is planning to launch its main net soon, while keeping the rules for the staking system.
Will VeChain Survive a Bear Market?
VeChain was one of the assets exploding in December, peaking just below $10. Since then, the project has moved on with the rebranding and the node program, but the digital asset has slid in price. Volumes remain relatively robust.
Yet at this point, the fair price for VEN is unknown. The asset is still too young to predict, and other tokens have spend years with a relatively low price before moving to a much higher price range. At the moment, VeChain remains relatively unknown, and may see a long period of dormancy. Some investors compare it to NEO, which spent years in obscurity as AntShares.
Even Binance trading may not be enough to achieve a quick spike to higher prices, as the asset remains highly volatile.
In the past days, users have also reported problems with Binance withdrawals, at one point even possibly leading to a missed deadline on staking the coins in an X Node.
This article appeared first on Cryptovest