Popular Tangem Wallet to Integrate VeChain (VET)

VeChain users will soon be able to hold and transfer VET using Tangem Wallet.

Popular Swiss-based hardware wallet maker Tangem announced Wednesday plans to enable support for the VeChain network. The integration will become available in January 2024, increasing the number of crypto assets users can store on the card-shaped hardware wallet.

Vechain is coming 🔥

We are thrilled to announce that we have started integrating the Vechain network @vechainofficial. It will be available in early January 2024.

We’ll keep you in the loop! pic.twitter.com/lzez8kvfn3

— Tangem (@Tangem) December 14, 2023

The addition of VeChain to the list of supported chains on Tangem will expose the asset to over one million users of the popular hardware wallet. It also opens up the option for Tangem to onboard more users, with VeChain having over 900,000 holders.

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Before now, Tangem had received several petitions from users to enable support for VeChain. The team repeatedly disclosed that they would soon support the token. They noted in July that VET support was in development.

It is unclear at this time whether Tangem’s integration will allow for the storage of other VeChain-native assets. However, the move would likely support VeChain (VET). Support for the VeChain network gas token VeThor (VTHO) is expected, but no statement confirms this as of press time.

VeChain (VET) and VeThor (VTHO) Soar

Meanwhile, Tangem’s decision to enable support for the VeChain ecosystem comes at a time when project tokens VET and VTHO have increased significantly. In the past 24 hours, VET clinched a ten-month high of $0.031, with a market cap of $2.1 billion.

At the same time, VTHO rose as high as $0.003. While the token’s price has since retraced to around $0.002, VTHO is still up 26% in the past seven days, making it one of the best performers within the period under consideration.

The recent increase was largely buoyed by a broader crypto market recovery. At the same time, VeChain launched a new marketplace for investors to buy and sell nodes. The new offering is designed to enhance VET rewards on the network and allow for a robust economy.