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The much anticipated Mainnet migration of VeChain launched a few hours ago with its first block being mined at 08:00:09. The VeChainThor blockchain has been successfully commenced and the team announced the big news on various social media platforms.
Sunny Lu, the CEO, and Co-Founder of VeChain also tweeted about the migration and has mentioned his gratitude to the Ethereum community and its CEO Vitalik Buterin.
Tweet by Sunny Lu | Source: Twitter
A VeChain Maximalist commented on Twitter:
“thank you for the hard work and perseverance, I will do the best to support the Eco system… salute!!!”
A Twitterati named Boye says:
“Awesome! For the devs out there who want to fiddle around with the #VeChainThor API: https://api.vechain.tools/ is now hooked up to mainnet!”
A Redditor named Hipsterci says:
“As much as I feel like a VeChain shill here, Sunny is such a clever dude. He’s a hero we need but don’t deserve when it comes to crypto. This is also just amazing, no anti-ETH EOS tier disrespect, just plain and simple professionalism.”
Another Blockchain Enthusiast says:
“Loved the no hype approach. VeChain mean business now…”
As announced earlier by the firm, the following activities such as Authority Masternode deployment, VeChainThor forge, the snapshot on Ethereum and X-Node monitoring will be executed today.
VeChainThor [VET] token swap has received support from popular exchanges like Binance, Bithumb, KuCoin, etc. The ERC20 token migration will be completed by mid-July as scheduled by the VeChain team at a 1:100 ratio.
A Redditor says:
“Like I said in the other post in /r/vechain, this marks the 3rd most important event in blockchain history. The space is going to change dramatically due to VeChain. Soon EOS, ADA, XLM, and NEO’s market caps will slowly drain into VeChain’s as people realize those projects are NOT worth even close to a real project like this.”
A Redditor named shorth commented:
“Is this really that much of a big deal? I’m a bit skeptical since if this were so huge I would expect VEN to be a lot higher, efficient market etc.”
Another cryptocurrency investor says:
“Vechain may or may not succeed. But the market is not exactly rational lately. Other than a few projects falling extra hard, there has been very little movement as a result of big new. All the big projects are moving pretty much in sync with each other.”
VEN’s 1-day chart | Source: CoinMarketCap
The VeChain [VEN] market looks relatively bullish on the Mainnet day as the coin has gained its value by 8.34% in the past 24 hours. At 6:45 AM UTC, VEN is trading at $2.67 with a market capitalization of $1.4 billion.
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