VeChain Reaches Self Reported Market Capitalization of $1.84 Billion (VET)

VeChain (VET) traded up 3.5% against the U.S. dollar during the 1 day period ending at 19:00 PM E.T. on October 11th. One VeChain coin can now be bought for approximately $0.0227 or 0.00000036 BTC on popular exchanges. During the last week, VeChain has traded 0.3% lower against the U.S. dollar. VeChain has a total market capitalization of $1.84 billion and $20.76 million worth of VeChain was traded on exchanges in the last day.

VeChain Coin Profile

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

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 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, Gemini 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