Veritaseum Up 124% Over Week: CEO Gets Guardian Coverage

Veritaseum (VERI) has recorded 29% net growth for Monday, Aug 20th as it goes on to compound weekly gains of 124% and threatens to secure a place in the market cap top one-hundred. The growth over the past week is perhaps what prompted the Nigerian arm of the Guardian news publication to interview Middleton, as he tours Nigeria set on implementing Veritaseum for the building of a ‘pan-African economic hub’.

VERI Token Up 122% Over Week

Veritaseum’s growth for the day sets it out as the market’s top performer over the last twenty-four hours, with a 41% spike peaking at a price of $39.23 at around midday. That’s up from a starting price of $27.74. Following the subsequent cool-down which occurred after the spike, the token now sits at the $36 range, although short, sharp spikes and dips have been occurring constantly since yesterday.

VERI tokens have been on the up since August 14th after reaching a low of $17.46 from which they rebounded. The rebound has lasted just over six days, with day-on-day growth occurring ever since. The climb from the weekly low to today’s peak amounts to 124% growth for Veritaseum, which has now muscled its way into the top ninety cryptocurrencies by market cap.

You’d be right to suspect that a coin ranked so far down in the rankings isn’t very well represented on the major exchanges. Over 78% of VERI daily trades have come from the Mercatox exchange, with VERI/ETH trades making up around $500,000, and VERI/BTC accounting for $200,000 of the daily total.

Trade volumes have actually been declining throughout the week as the token price has risen, with a monthly high of $2.2 million giving way to $800,000 today.

Veritaseum CEO Lays Out Nigerian Plans for Guardian

The CEO of Veritaseum spoke with the Nigerian wing of the Guardian recently, detailing his plans to create an economic hub within Nigeria which encompasses the entire continent of Africa.

Reggie Middleton’s plans for a pan-African economic hub include some ambitious ideas; including building a 4-lane superhighway with automated tolls – all paid for by cryptocurrency token sales by investors from around the world.

Middleton also floated the idea of building a high-speed monorail to connect disparate regions of the country, and is intent on setting up business infrastructure in Nigeria.

“Give us your business plan and we will review it thoroughly and if we think it is deeper, we will talk to the regulators, create a sound box- basically to allow the regulator see what we are doing, but allow us to do it. If we are sure of how determined and safe the business is, we will raise capital for you from Nigeria and the rest of the world, as part of efforts to increase foreign investments for the country and raise employment opportunities.”

Middleton was previously at the center of the purported Veritaseum hack where $8.7 million worth of VERI tokens were reportedly stolen from his personal account back in June 2017. The funds were subsequently sold off and Veritaseum’s value plummeted throughout 2017.

Featured image courtesy of Shutterstock. 

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.