VeChain Reaches Self Reported Market Capitalization of $1.64 Billion (VET)

VeChain (VET) traded up 4.9% against the dollar during the 1-day period ending at 12:00 PM ET on November 5th. One VeChain coin can now be purchased for approximately $0.0203 or 0.00000029 BTC on exchanges. VeChain has a total market capitalization of $1.64 billion and approximately $23.02 million worth of VeChain was traded on exchanges in the last 24 hours. During the last seven days, VeChain has traded 10.4% lower against the dollar.

VeChain Profile

VeChain (CRYPTO:VET) is a Proof of Authority coin that uses the VeChainThor Authority hashing algorithm. It was first traded 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 message board is vechainofficial.medium.com. The Reddit community for VeChain is https://reddit.com/r/vechain and the currency’s Github account can be viewed here. VeChain’s official website is www.vechain.org. VeChain’s official Twitter account is @vechainofficial and its Facebook page is accessible 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 possible to buy alternative cryptocurrencies such as VeChain directly using US dollars. Investors seeking to acquire VeChain should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. 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