@Khant 19 July 2020 more from that month

Why We Should Stay Away From VeThor Token(VTHO) for now

So ***Binance*** has made official annoucement to list **VTHO**  36 hours ago.

We have seen this coming since long long ago ,No idea what took **Binance** so long .**Before you think I'm making fud just by reading the Title,I ask you to read till the end.It's just my opinion after all.** Overall Market is Bullish, **VET** made **4x** within **45** days which means **Whales** have collected millions/billions of **VET.**

That also has another meaning.**Whales** also have collected huge amount of **VTHO** as holding **1** **VET** can generate  **0.000432 VTHO** per day. So,they have **2** scenarios,pump **VTHO** price as so they can dump their holdings.Or Just dump directly to the fomoers. So,lets talk about first scenario,

Pumped **1200%** (Yes it is **12x,**if you bought **100$ VTHO** when it was listed and sold at top, your **100$** will become **1200$)** Now,take a look at first two **1H candles volumes**.So,I'll take that as ***PnD*** was already made to dump their **VTHO** holdings. Currently there is a **120%** range(marked by **2** green lines) with resistance being ***0.00217 USDT*** and support being ***0.000999 USDT*** which is too risky for trading. But if history for **secondary coins(TFUEL,ONG,GAS & now VTHO)** are to repeat, **2nd** scenario is more likely. Whenever the secondary coins get listed on binance,they dump like there is no tomorrow . Lets take a look at their charts. *****ONT/USDT*****

Reached **4$** on the listing day and current price is **0.1183$ (-95.29 % )** *****TFUEL/USDT*****

Reached **0.025209$** on the listing day and **All-Time-Low** is **0.001181$ (-95.32 %)** So,you can tell me that not all coins will perform the same just because they are similar in secondary structure. **But Take a Look at who holds** ***VTHO*** **most.**

It's just the first list of Top **VTHO** holders and I can already see **Binance 1,Binance 2 & Binance 3** are top holders of **VTHO.(Not surprised)** So,it is more likely that history will repeat for **VTHO** as **Binance** provides good liquidity to dumpers .

Currently **700 BTC** volume of **VTHO** is being traded in Binance last 24 hours which is about **20%** of total **VTHO** marketcap (**4063 BTC**).

Thanks for reading the article.Share me ur thought on **VTHO.** **If you want more of these setups,follow me on tradingview where I usually posts charts there** **https://www.tradingview.com/u/tikyikhant/**