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Ethereum-based crypto projects are quietly outperforming other digital assets as the market turns green in a bounce of relief.
Veritaseum (Berry) is a global blockchain-based software that aims to provide access to peer-to-peer financial markets.
Veritaseum offers a diverse suite of products, including forensic investigative tools, lending or “rental” platforms, and tokenization services.
VERI, an ERC-20 token that powers the ecosystem, currently has a market cap of $93 million and is trading at $42.62.
VERI has shown strength over the next few days lawsuit Filed by Veritaseum creator Reggie Middleton, Coinbase claims that the cryptocurrency exchange infringes his patent on value transfer technology.
according to filing In a Delaware court, Veritaseum Capital sued Coinbase for $350 million under allegations that the exchange used patents to facilitate several of its services, including Coinbase Cloud, Coinbase Pay and Coinbase Wallet. seeks damages.
The filing says Coinbase is using Middleton’s technology to generate “substantial” revenue.
It’s unclear what VERI’s price action has to do with the lawsuit, but the Ethereum token saw a price increase of over 75% in just over three days after news of the filing. VERI has sustained most of its gains at the time of writing, from a low of just over $27 on the 24th to a high of $47.80 on the 27th.
Coinbase has not commented on the lawsuit at the time of writing.
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Featured Image: Shutterstock/Garry Quinn
