The ancient city of Pherai, one of the most important cities of Thessaly, was occupied from the Final Neolithic (about 3000 B.C.) to the beginning of the Roman Imperial period (1st century A.D.), when it was probably abandoned. The modern settlement, named Velestino, was founded in the post-Byzantine period (13th century B.C.), and has played an important role in Greek history of the laste centuries (birth place of Regas Pheraios, pioneer of the Hellenic Revolution against Turks). Today Velestino is a very active town, part of which is built upon the ancient city, fortunately not on the most important part of it.