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Cryptocurrencies:  7,531Markets:  31,807Market Cap:  $401,072,775,14524h Vol:  $102,172,285,716BTC Dominance:  61.9%
Market Cap:  $401,072,775,14524h Vol:  $102,172,285,716BTC Dominance:  61.9%Cryptocurrencies:  7,531Markets:  31,807
VeChain

VeChain (VET)

$0.011296 USD (-5.01%)
0.00000084 BTC (-6.61%)
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  • Market Cap
    $726,508,439 USD
    54,281 BTC
  • Volume (24h)
    $126,068,027 USD
    9,419 BTC
  • Circulating Supply
    64,315,576,989 VET
  • Total Supply
    86,712,634,466 VET
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About VeChain

VeChain price today is $0.011296 USD with a 24-hour trading volume of $126,068,027 USD. VeChain is down 5.01% in the last 24 hours. The current CoinMarketCap ranking is #29, with a market cap of $726,508,439 USD. It has a circulating supply of 64,315,576,989 VET coins and the max. supply is not available. You can find the top exchanges to trade VeChain 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.

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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.

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.

VeChain Price Today

VeChain Price$0.011296 USD
24 Hour High / Low
$0.011841 USD /
$0.011083 USD
24 Hour Volume$126,068,027 USD
Market Cap$726,508,439 USD
Market Rank#29

Yesterday's VeChain Price

Yesterday's High / Low
$0.011982 USD /
$0.011193 USD
Yesterday's Open / Close
$0.011785 USD /
$0.011407 USD
Yesterday's Change$-0.000379 USD (-3.21%)
Yesterday's Volume$128,834,450 USD

Historic VeChain Price

7 Day High / Low
$0.012571 USD /
$0.010745 USD
30 Day High / Low
$0.013660 USD /
$0.009764 USD
90 Day High / Low
$0.022917 USD /
$0.009744 USD
52 Week High / Low
$0.022917 USD /
$0.001678 USD
All Time High
$0.022917 USD
(Aug 09, 2020)
All Time Low
$0.001678 USD
(Mar 13, 2020)
VeChain ROI
-24.90%

VeChain Supply Details

Circulating Supply64,315,576,989 VET
Total Supply86,712,634,466 VET
Max SupplyNo Data
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