Gas tokens gain 300% as the quest for Ethereum network alternatives expands

CRYPTONAIRE LYWEEK

CRYPTO investment journal

Gas tokens gain 300% as the quest for Ethereum network alternatives expands

Gas tokens quietly move higher as the cost of transacting on the Ethereum network highlights the benefits of dual-token models with stable fees.

Network congestion and high transaction costs on the Ethereum (ETH) network have been a persistent issue for investors and developers for the past year and this has shone a spotlight on blockchain projects that offer a solution to these issues.

One class of tokens that has received a boost in both trading volume and price over the past two months are gas tokens that help power transactions on their respective blockchain networks.

Data from Cointelegraph Markets and TradingView shows that Gas (GAS), Ontology Gas (ONG) and VeThor Token (VTHO) have all seen their prices increase more than 300% since the beginning of February thanks to increased attention on dual-token models.

VTHO/USDT

VeThor Token is one of the two tokens that were launched on the VeChain Thor public blockchain following the project’s rebrand in 2018. VeChain (VET) is the native token of the platform and performs as the primary value-transfer token while VTHO is a VIP-180 standard token, meaning it represents the cost of transacting on the VeChain Thor blockchain.

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