VET

VeChainVET

Rank #22
Coin
On 84,496 watchlists

VeChain Price (VET)

$0.02930
10.14%

0.0000009495 BTC

0.00002535 ETH

Low:$0.02921
High:$0.03505
24h
VET  VeChain VETPrice: $0.02930 10.14%
Market Cap
$1,884,246,008
10.14%
Fully Diluted Market Cap
$2,540,410,007
10.14%
Volume
24h
$738,093,981
2.25%
Circulating Supply
64,315,576,989 VET
74%
Max Supply
86,712,634,466

VeChain Chart

 

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About VeChain

VeChain price today is $0.029297 USD with a 24-hour trading volume of $738,093,981 USD. VeChain is down 10.14% in the last 24 hours. The current CoinMarketCap ranking is #22, with a market cap of $1,884,246,008 USD. It has a circulating supply of 64,315,576,989 VET coins and a max. supply of 86,712,634,466 VET coins.

The top exchanges for trading in VeChain are currently Binance, Huobi Global, BiONE, FTX, and VCC Exchange. You can find others listed on our crypto exchanges page.

What Is VeChain (VET)?

VeChain (VET) is a blockchain-powered supply chain platform. Begun in 2015 and launched in June 2016, VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem which solves some of the major problems with supply chain management.

The platform uses two in-house tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain.

The idea is to boost the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users.

Who Are the Founders of VeChain (VET)?

VeChain is the product of creator and co-founder Sunny Lu, an IT executive who was formerly CIO of Louis Vuitton China.

Lu has since become a well-known name within the cryptocurrency industry. He has drawn attention to the ability of blockchain technology to solve transparency in particular, arguing that it can create “trust-free” structures which do not suffer from corruption as part of the supply chain.

Fellow co-founder Jay Zhang, who directs VeChain's global corporate structure, governance, and financial management, previously worked for both Deloitte and PriceWaterhouseCoopers in the finance and risk management sphere.

Having launched in June 2016, VeChain is one of the oldest dedicated blockchain supply chain platforms on the market.

What Makes VeChain (VET) Unique?

VeChain exists to disrupt traditional supply chain models, an industry which before blockchain had remained little changed over the decades.

Using transparent technology with no single point of weakness or control allows for greater security, efficiency and ease of tracking products in a given supply chain, while reducing cost through trustless automation.

VeChain’s model thus appeals to businesses looking to reduce supply chain friction and give a more transparent impression to clients.

VeChain’s official literature notes that its unique proposition lies in its dual-token setup, among other features. In-house token fees combine with charges for various services to generate operating income for the company, while token holders can engage in activities such as staking, thus providing liquidity in return for rewards.

Read more about Orchid here.

Read more about PIVX here.

New to cryptocurrency? Check out Alexandria, CoinMarketCap’s dedicated education suite.

How Many VeChain (VET) Coins Are There In Circulation?

VeChain has two in-house tokens: VeChain (VET) and VeThor (VTHO). Described as a unique offering for such a platform, the dual-token system is designed to avoid fee fluctuations and network congestion.

VET is the token used for transactions and other activities, while VTHO provides fee payments and thus functions as a “gas token,” similar to how gas functions for Ethereum (ETH) transactions.

VET holders automatically generate a small amount of passive income in VTHO, while 70% of the VTHO used in a VET payment is destroyed.

VTHO is generated based on VET holdings, while VET itself has a maximum fixed supply of 86,712,634,466 tokens.

How Is the VeChain (VET) Network Secured?

VeChain (VET) is a proof-of-stake token, and VeChain itself explains that relatively low computing power is required to achieve network security and maintain user consensus.

A separate feature, proof-of-authority, involves authority masternode operators maintaining the protocol in their own interest according to rules laid down by parent organization, the VeChain Foundation.

Where Can You Buy VeChain (VET)?

VET is a freely-tradable token available on major exchanges, while markets also exist for VTHO.

VET had major markets on Binance and Huobi Global among other platforms, with pairs for cryptocurrencies, stablecoins and fiat currencies.

If you’re new to cryptocurrency and want to know how to buy Bitcoin (BTC) or any other token, you can read more here.

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VET

VeChain

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USD

United States Dollar

VET Price Statistics

VeChain Price Today
VeChain Price$0.02930
Price Change24h$-0.002971

10.14%

24h Low / 24h High
$0.02921 /
$0.03505
Trading Volume24h$738,093,980.86

2.25%

Market Dominance0.21%
Market Rank#22
VeChain Market Cap
Market Cap$1,884,246,008.41

10.14%

Fully Diluted Market Cap$2,540,410,006.73

10.14%

VeChain Price Yesterday
Yesterday's Low / High
$0.02868 /
$0.03487
Yesterday's Open / Close
$0.02916 /
$0.03468
Yesterday's Change

18.94%

Yesterday's Volume$848,049,807.97
VeChain Price History
7d Low / 7d High
$0.02298 /
$0.03505
30d Low / 30d High
$0.01204 /
$0.03505
90d Low / 90d High
$0.008917 /
$0.03505
52 Week Low / 52 Week High
$0.001678 /
$0.03505
All Time High
Jan 21, 2021 (14 hours ago)
$0.03505

16.4%

All Time Low
Mar 13, 2020 (10 months ago)
$0.001678

1646.29%

VeChain ROI

94.21%

VeChain Supply
Circulating Supply64,315,576,989 VET
Total Supply86,712,634,466 VET
Max Supply86,712,634,466 VET

VeChain Markets

No Data

VeChain News

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