VeChain and Binance Coin [BNB], double-digit gainers of the top 20 cryptocurrencies

The past week has been bullish for the crypto-world considering Bitcoin [BTC] breached the $8000 resistance. As the enthusiasm spread, Bitcoin on 26th July dropped back to the below-$8000 cage. Tokens such as Vechain and BNB, however, are surging in double-digits with a 41.56% and 11.08% jump respectively.

Top 20 currencies chart | Source: CoinMarketCap

VeChain was ranked #18 but due to an increase in its market cap, it jumped to #17 pushing BNB to its previous position. Both the tokens have a very close market cap.

Vechain’s 7-day chart | Source: CoinMarketcap

In the 7-day chart of VeChain, as noticed, the token pumped over the week. On 20th July the token started its week with the trading price of $1.64 and escalated to $2.62 on 26th July. The token in a week gained over $500 million as it entered the $1 billion club of market caps.

This week was crucial for VeChain as the coin resumed its trading for the migrated new VET-VTHO tokens on exchanges such as Binance and Huobi.

On 25th July, Binance and VeChain decided to support the distribution of VTHO to VET holders. Binance announced to distribute VTHO on a monthly basis, which will be calculated based on daily snapshots of each user’s VET balance. To commemorate and celebrate the launch of the VeChain Mainnet, VeChain provided 100 million VTHO tokens to be airdropped to all VET Binance users.

According to many in the community, the pumping of VeChain accelerated post these announcements, which led it to be this week’s top double-digit gainer.

Binance Coin’s 7-day chart | Source: CoinMarketCap

BNB started its week at $12.27 and as observed gained over $1, which surged its price to $13.80. The market cap of BNB gained the value of over $135 million in a week.

Recently the news of Binance entering the South Korean market was out. It was reported by a local news portal, ‘Korea Business’ but has not been confirmed by Binance as of yet.

The platform recently also included the Korean Language to their website. The CEO of Binance, Changpeng Zhao, spoke about the importance of the South Korean market during the Blockchain Partners Summit in Seoul. As speculated Binance’s potential will be seen in the Korean markets.

At press time, VeChain had a trading price of $2.32 with the market cap at $1.28 billion, the token had a pump of 8.74% in its daily cap while the weekly cap still runs green with a massive 40.20% jump. On the other hand, BNB is currently being traded at the price of $13.55. The token is pumping with a surge of 10.75% in its weekly cap.

UPDATE: VeChain is back to its position of #18 while BNB is at #17

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