VeChain (VET) and VeThor (VTHO) Offset Over-Selling with Strong Gains

VeChain (VET) is experiencing a swift recovery from its recent lows, currently sitting just 30% below its all-time high. The price of VET surged over 39% overnight, reaching $0.014, marking a net increase of 35% in the past week. Trading volumes for VeChain have also picked up significantly, rising from a low of $18 million in 24 hours to over $84 million as the atmosphere surrounding the token swap settles.

In addition, the VeThor (VTHO) token, which serves as a reward for staking VET, has rebounded from recent lows as well, increasing by 55% overnight to $0.003.

For VeChain, the influx of new VET tokens will soon begin to be locked in nodes for staking. This is a key attraction of the project, as the periods of node lockdown have previously coincided with notable gains.