There are dozens of new cryptocurrencies released every day on CoinMarketCap. Today, we take a look at a recently released cryptocurrency named Vangold (VGD), a blockchain-based freelancer token built on the BNB chain. Let’s look at the platform and its token VGD and see why the price is rising?
What Is Vangold Token (VGD)?
Launched on March 10th, 2022, Vangold Token is one of the world’s first blockchain-based freelancer tokens built on the BNB chain. It’s fully decentralized and features smart-contracts support.
You can think of Vangold as the blockchain-based Fiverr, enabling freelancers to create listings for their services. Customers can browse through the various listings on the platform and purchase services.
At the time of writing, there are several categories on Vangold: Blockchain development video & animation, NFTs, writing services, Sales, Finance, and Legal services.
The platform is still in its early stages, and there aren’t that many listings. However, anyone can sign up and create an listing.
Vangold enables freelancers to receive payment much faster compared to traditional platforms. In addition, the platform features lower fees compared to Fiverr and other freelancer platforms.
The native utility token on the platform is VGD, utilized for payments, transaction fees, and more. It’s a BEP-20 token living on the BNB chain.
Why Is VGD Price Rising?
The most likely reason for VGD’s recent price hike is the hype regarding a current listing on CoinMarketCap.
In addition, VGD’s current fully diluted valuation of $87k is highly undervalued, and the token could easily see significant price increases in the near term.
Looking at the holders’ distribution of VGD, the top address holding the most coins is PancakeSwap, followed by an address containing 6.7% of the token’s total supply.
The holders’ distribution is relatively healthy, which is a bullish sign.
Overall, VGD seems like a great idea. One downside is the current lack of listing on the platform, but that’s understandable as the project was only recently listed on CoinMarketCap yesterday.
Another great sign is the amount of trading volume for the token. Currently, VGD boasts a trading volume of over $700k, all of which is coming from a decentralized exchange, PancakeSwap.
VGD has good potential, and the current market cap of $85k is highly underrated. As always, it’s still a gamble when investing in new and recently released tokens, and traders are advised to exercise caution.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.
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