VET

VeChainVET

Rank #31
Coin
On 917,840 watchlists

VeChain Price (VET)

$0.09203
2.76%

0.00000182 BTC1.86%

0.00002113 ETH2.74%

Low:$0.09014
High:$0.09809
24h
VET  VeChain VET
Price:
$0.09203
 2.76%
Market Cap
$5,918,752,789
2.76%
Fully Diluted Market Cap
$7,979,880,942
2.76%
Volume
24h
$427,288,759
25.81%
Volume / Market Cap
0.07219
Circulating Supply
64.32B VET
74%
Max Supply
86,712,634,466
Total Supply
86,712,634,466
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VET to USD Converter

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VET

VeChain

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USD

United States Dollar

VET Price Statistics

VeChain Price Today
VeChain Price$0.09203
Price Change24h$-0.002615
2.76%
24h Low / 24h High
$0.09014 /
$0.09809
Trading Volume24h$427,288,758.93
25.81%
Volume / Market Cap0.07219
Market Dominance0.25%
Market Rank#31
VeChain Market Cap
Market Cap$5,918,752,789.30
2.76%
Fully Diluted Market Cap$7,979,880,942.39
2.76%
VeChain Price Yesterday
Yesterday's Low / High
$0.09013 /
$0.09809
Yesterday's Open / Close
$0.09371 /
$0.09188
Yesterday's Change

1.96%

Yesterday's Volume$433,638,361.07
VeChain Price History
7d Low / 7d High
$0.07955 /
$0.1256
30d Low / 30d High
$0.07955 /
$0.1875
90d Low / 90d High
$0.07955 /
$0.1875
52 Week Low / 52 Week High
$0.01204 /
$0.2782
All Time High
Apr 17, 2021 (8 months ago)
$0.2782
66.92%
All Time Low
Mar 13, 2020 (2 years ago)
$0.001678
5385.42%
VeChain ROI

511.86%

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

VeChain to USD Chart

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VET Price Live Data

The live VeChain price today is $0.092027 USD with a 24-hour trading volume of $427,288,759 USD. We update our VET to USD price in real-time. VeChain is down 2.76% in the last 24 hours. The current CoinMarketCap ranking is #31, with a live market cap of $5,918,752,789 USD. It has a circulating supply of 64,315,576,989 VET coins and a max. supply of 86,712,634,466 VET coins.

If you would like to know where to buy VeChain, the top cryptocurrency exchanges for trading in VeChain stock are currently Binance, Mandala Exchange, Huobi Global, FTX, and Upbit. You can find others listed on our crypto exchanges page.

To find out even more about this project, check out our deep dive of VeChain.

What Is VeChain (VET)?

VeChain (VET) is a versatile enterprise-grade L1 smart contract platform.

VeChain began in 2015 as a private consoritium chain, working with a host of enterprises to explore applications of blockchain. VeChain would begin their transition to public blockchain in 2017 with the ERC-20 token VEN, before launching a mainnet of their own in 2018 using the ticker VET.

VeChain aims to use distributed governance and Internet of Things (IoT) technologies to create an ecosystem which solves major data hurdles for multiple global industries from medical to energy, food & beverage to sustainability and SDG goals. By leveraging the power of trustless data, VeChain is building the digital backbone that will underpin the fourth industrial revolution, which demands real-time and trustless data sharing between many participants.

The platform uses two tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. VET generates VTHO and acts as the store of value and value transfer medium. VTHO is used to pay for GAS costs, separating the need to expend VET when writing data. This has the additional benefit of ensuring costs of using the network can be kept stable by tweaking certain variables such as the amount of VTHO required to service a transaction, or by increasing the VTHO geneation rate. Such actions first require all-stakeholder community votes.

VeChain has been able to demonstrate massively boosted efficiency, traceability and transparency across data trails, supply chains and within novel kinds of ecosystems, such as those in San Marino targeting UN SDGs, among others.

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” enterprise/business structures that do not suffer from information corruption thanks to close working collaborations with key auditing/certification consultants such as PriceWaterhouseCoopers and DNV who verify data quality and certify industrial processes.

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 originally begun life in 2015, VeChain is one of the oldest dedicated smart contract platforms on the market, with reflected prestige among enterprise clients.

What Makes VeChain (VET) Unique?

VeChain exists to disrupt traditional business models, and is best known for its work in supply chain, an industry that has changed little over the decades. Its work in providing a decentralised trust layer for multi-party ecosystems has already seen major sucesses with high profile clientele and government bodies.

Using transparent technology with no single point of weakness or control allows for greater security, efficiency and ease of tracking for all kinds of data, while reducing costs through trustless automation via smart contracts. Carbon, supply chain, international logistics, incentivised ecosystems, automobile passports and more all greatly benefit from the digitisation of trust and colaboration it enables.

VeChain’s platform accordingly has very wide appeal to many different clients of clients and industries.

VeChain’s official literature notes that its unique proposition lies in its dual-token setup alongside transformative protocols such as 'fee delegation' and it's one-stop 'ToolChain' platform that means crypto-wary companies can pay in fiat for VeChain's Blockchain-as-a-service, while smart contracts handle gas payment costs, ensuring frictionless use of the network, even in strict jurisdictions.

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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.

At the time of writing (07/12/2021) - there are 66,760,741,299 tokens in circulation according to VeChainStats

How Is the VeChain (VET) Network Secured?

VeChain (VET) is a Proof of Authority (PoA) token, requiring relatively low computing power to achieve network security versus a protocol such as Bitcoin. A recent CTI report showed that VeChain's annual carbon footprint is incredibly small at just 2.4% of the emissions of mining a single Bitcoin, thus making PoA an incredibly efficient consensus mechanism for securing the network.

Proof-of-authority, is a process wherein authority masternode operators are selected by an independent Steering Committee, thus giving them 'authority' to run a masternode. This model is particularly attractive for enterprises who want assurances about the integrity and quality of validators running the network, and assurances bad actors can be ejected if needed.

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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