VeChain (VET) Achieves Self Reported Market Capitalization of $1.85 Billion

VeChain (VET) traded up 1% against the U.S. dollar during the 24-hour period ending at 13:00 PM Eastern on October 12th. One VeChain coin can currently be purchased for about $0.0228 or 0.00000036 BTC on popular cryptocurrency exchanges. VeChain has a market capitalization of $1.85 billion and $20.31 million worth of VeChain was traded on exchanges in the last day. During the last seven days, VeChain has traded 1.6% higher against the U.S. dollar.

VeChain Coin Profile

VeChain (CRYPTO:VET) is a Proof of Authority coin that uses the VeChainThor Authority hashing algorithm. Its launch date was June 1st, 2016. VeChain’s total supply is 85,985,041,177 coins and its circulating supply is 80,985,041,177 coins. VeChain’s official message board is vechainofficial.medium.com. VeChain’s official Twitter account is @vechainofficial and its Facebook page is accessible here. The official website for VeChain is www.vechain.org. The Reddit community for VeChain is https://reddit.com/r/vechain and the currency’s Github account can be viewed here.

According to CryptoCompare, “VeChain (VET) is the native cryptocurrency of the VeChainThor blockchain. VET is used as a medium of exchange for activities and transactions on the VeChainThor blockchain and serves as a “fuel” to power the network. VET holders have the right to vote on governance decisions, participate in Proof of Authority (PoA) consensus, and receive rewards in the form of VTHO tokens. VET holders will also be able to benefit from other financial services such as staking, lending, and trading on third-party exchanges. With its innovative features, VeChainThor is positioned to be one of the most influential public blockchains, and VET is an integral part of this ecosystem.”

Buying and Selling VeChain

It is usually not currently possible to buy alternative cryptocurrencies such as VeChain directly using U.S. dollars. Investors seeking to trade VeChain should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy VeChain using one of the exchanges listed above.

VET/USD price chart by TradingView