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VeChain

VeChain VET

Coin
VeChain Price (VET)
$0.0231
2.31% Buy VET

0.00001742 ETH

0.000001186 BTC

Low: $0.0230
High: $0.0237
24h
Market Cap
$1,672,123,151
2.31%
Fully Diluted Market Cap
$2,004,171,148
2.31%
Volume
24h
$48,061,932
7.48%
Volume / Market Cap
0.0287
Circulating Supply
72,511,146,418 VET
99.16%
Max Supply
86,712,634,466
Total Supply
85,985,041,177
VeChain VET
Price: $0.0231
2.31% Buy VET
VeChain (VET) Social Signals & Traffic Tracker
VeChain twitter
Twitter Stats
@vechainofficial

Followers

589,512

0.10%

Following

288

1.05%

Tweet count

3,128

1.72%

Joined at Sep 15, 2017
VeChain reddit
Reddit Stats
r/vechain

Subscribers

221,360

0.05%

Subreddit type

public

Moderators

10

0.00%

Joined at Sep 27, 2017
VeChain telegram
Telegram Stats
@vechain_official_english

Title

VeChain Official - VET VTHO

Members

4,038

0.86%

VeChain traffic
Website Traffic
vechain.org

Website Rating (DR)

72 / 100

1.41%

Ahrefs Rank

76,175

2.51%

Organic Traffic (mo.)

112,723

20.55%

VeChain github
GitHub Organization
vechain

Public repos

55

Type

Organization

Created at Oct 31, 2017
VeChain github
GitHub Repository

Currently, official VeChain GitHub account doesn’t exist or wasn’t submitted. 🔆

VeChain Foundation

VeChain Foundation

VeChain Rules 1. No FUD/Toxicity/Profanity/Discrimination/NSFW 2. No Refs/Ads/Spam 3. English only 4. VeChain ecosystem only/no btc 5. No FUD/P&D 6. Mod-disputes in PM 7. No brigading/manipulation Announcements: @vechainannouncement https://vechain.org

VeChain Price statistics

VeChain Price
$0.0231
Price change 24h
-$0.00053
2.31%
24h Low / 24h High
$0.0230 /
$0.0237
All Time High
Apr 17, 2021 (1 year 5 months ago)
$0.2782
91.71%
All Time Low
Mar 13, 2020 (2 years 6 months ago)
$0.0017
1,274.55%
Trading Volume 24h
$48,061,932
7.48%
Volume / Market Cap
0.0287
Market Dominance
0.17%
Market Rank
#37
Market Cap
$1,672,123,151
2.31%
Fully Diluted Market Cap
$2,004,171,148
2.31%

Live VET Price Analysis

The current real time VeChain price is $0.0231, and its trading volume is $48,061,931.67 in the last 24 hours. VET price has plummeted by 2.31% in the last day, and decreased by 0.94% in the last 7 days. It’s important to note that current VeChain market capitalization is $1,672,123,150.93, and the maximum supply is 86,712,634,466 VET coins. Talking about circulating supply, VET has 72,511,146,418 coins. Currently, VeChain rank on the market is #37.

VeChain price today is 91.71% below all time high, and it is 1,274.55% above all time low.

All data and prices are updated in real-time. The most active and popular exchanges for buying or selling VET are Binance, Kucoin & Kraken. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.

What Is VeChain (VET)?

VET is the native token of VeChain, also known as VeChain Thor, which is a public blockchain. It draws its value from initiatives taken by members of the blockchain to address pressing economic issues. If you want to know the current VeChain price, look at the VET price chart featured above.

The VeChain crypto project seeks to support the fourth industrial revolution by building an ecosystem that addresses significant data challenges for a variety of international industries (medical, energetical, food, and others).

VeChain is trying to accomplish this by utilizing the potential of trustless data, distributed governance, and the Internet of Things technologies (RFID and NFC chips, QR codes, environmental data sensors, etc.).

VeChain network is known for its efficiency, strong security, and simple data tracking due to the transparent technology without a single point of control it employs. Besides, by using trustless automation through smart contracts, VeChain manages to reduce transaction costs.

The selling points of VeChain are its dual-token system, its use of innovative protocols, and its BaaS (Blockchain-as-a-Service) platform called ToolChain.

Considering the dual-token system, VeChain utilizes VET and VTHO tokens. The dual-token method is used to prevent fee changes and network overload. It’s discussed a bit more thoroughly below.

Moving on, one of the innovative protocols used by the VeChain crypto project is the TX fee delegation. It's a system that makes it possible for regular people to use decentralized applications (dApps) without having to buy crypto. They simply pay a direct transaction fee formed by their interactions with dApps.

Lastly, talking about ToolChain, it’s great for businesses without a blockchain background, because it makes the integration of IoT and blockchain frictionless. ToolChain manages to accomplish that by employing the data BaaS layer, which includes all necessary components.

The Story of VeChain

The VeChain network was developed by Sunny Lu and Jay Zhang. Before involvement in this project, Lu was the CIO and COO of Louis Vuitton China. Talking about Jay Zhang, prior to co-founding VeChain in 2015, he spent 15 years as a senior manager in finance and risk management for PwC China and Deloitte UK.

Overall, VeChain has more than 90 people working on the development of the network. Gu Jianliang, who has tremendous experience in the field of IoT, is the CTO of the company.

Besides, in 2017, the Vechain Foundation was developed. It’s a non-profit organization in charge of network construction, technology research, development, and governance. Additionally, it's crucial for business expansion because it fosters and supports partnerships with organizations that could be interested in offering blockchain technology as a service.

It’s important to note that VeChain was not always a public blockchain. In 2015, after it was launched, VeChain was a private consortium chain, which was a semi-decentralized network that was not accessible to everyone. Besides, its native token at that time was VEN (an ERC-20 token). However, in 2018, VeChain released a public blockchain called VeChain Thor. Along with it, the VET token was released. VEN token holders had to swap for VET tokens at a 1:100 rate. After they all did that, VEN tokens were deactivated.

The Consensus Mechanism of VeChain

VeChain employs a Proof-of-Authority (PoA) consensus mechanism mostly known for its low computing power usage. It uses reputable validators to create blocks, giving a network computing capability. Therefore, it’s especially appealing to businesses that demand assurances regarding the reliability and integrity of validators operating the network.

Besides, by using a Byzantine Fault Tolerance (BFT) algorithm with identity and reputation as forms of stake, PoA enables faster transactions.

Overall, 101 reputable validators (Authority Nodes) create new blocks on the blockchain using VeChain Thor's implementation of PoA. In order to become an Authority Node, a user has to:

  • Submit a formal application
  • Undergo full KYC
  • Have dedicated hardware
  • Hold at least 250 million VET
  • Be approved by the VeChain Foundation

VET VS VTHO

VET is the main token of the network and it serves as a value transfer medium when creating VTHO tokens. VTHO is used to cover gas fees, while VET is the token utilized for transactions and other operations. Adjusting certain factors, such as the quantity of VTHO needed to process a transaction or the pace at which VTHO is created, ensures that network usage fees are kept steady.

VET has a max supply of 86,712,634,466 tokens. VTHO, on the other hand, is created automatically, based on VET holdings.

To put it another way, anyone who possesses VET coins receives VTHO. Besides that, they are able to utilize the VeChainThor network for free, given that the transactions they make don't take up more VTHO than they produce.

However, note that VTHO can also be exchanged and traded. This enables users to obtain more VTHO for carrying out more complex tasks like running blockchain applications.

Besides, VET holders automatically generate a tiny amount of passive income in VTHO. However, the majority of the VTHO tokens utilized in a VET payment are burned.

Check out the VeChain price chart above if you intend to buy VET coins. This is crucial because the VET price is quite erratic. It’s an unavoidable characteristic of crypto assets due to the volatility of the entire crypto market. Thus, the same factors that affect market-wide prices also have an impact on the VET price.

What's VeChain trading volume in the last 24 hours?

VET has a trading volume of $48,061,931.67 in the last 24 hours.

What's VeChain highest price ever?

VET has a highest price of $0.2782, which was reached on Apr 17, 2021 (1 year 5 months ago).

What's VeChain lowest price ever?

VET has a lowest price of $0.0017, which was reached on Mar 13, 2020 (2 years 6 months ago).

What are the best exchanges for buying and selling VET?

Currently, the most active and dominating exchanges for buying and selling VeChain are Binance, Kraken & Kucoin. The most popular VeChain trading pairs are VET/USDT (on Binance ), VET/BUSD (on Binance ), VET/BTC (on Binance ). Head to the Crypto Deal Directory to access custom & exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.

What are the safest hardware wallets for keeping VET?

According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping VeChain. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.

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Current market Price of a specific cryptocurrency.

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The cryptocurrency's market Price changes in percent within the last 24 hours (1 day).

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The highest historical cryptocurrency value.

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The lowest historical cryptocurrency value.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

Learn this metric

FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market.

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The ratio of Volume and Market Capitalization values.

The ratio of Volume and Market Capitalization values.

Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly).

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Verified Data

VeChain project's Circulating Supply has been verified and is equal to:

Circulating Supply

72,511,146,418 VET

The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency's lifetime. Similar to stock market's Fully Diluted Shares.

Note: Max Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market's Outstanding Shares.

Total Supply = All Issued Coins - Burned Coins.

Note: Total Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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