VeChain Self Reported Market Capitalization Reaches $1.75 Billion (VET)

VeChain (VET) traded down 2.7% against the US dollar during the 24-hour period ending at 9:00 AM Eastern on October 31st. One VeChain coin can now be purchased for $0.0216 or 0.00000030 BTC on popular exchanges. In the last seven days, VeChain has traded down 4.3% against the US dollar. VeChain has a total market capitalization of $1.75 billion and $23.21 million worth of VeChain was traded on exchanges in the last 24 hours.

VeChain Profile

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. VeChain’s official website is www.vechain.org. VeChain’s official Twitter account is @vechainofficial and its Facebook page is accessible here. The Reddit community for VeChain is https://reddit.com/r/vechain and the currency’s Github account can be viewed here. The official message board for VeChain is vechainofficial.medium.com.

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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy VeChain using one of the aforementioned exchanges.

VET/USD price chart by TradingView